Valuations & Acquisitions: Know What to Ask

What to Focus On

In future columns, we’ll explore deals across product categories and within individual companies for multiples, trends, competitive changes and
operating performance you need be on top of, as you plan, grow and position the business you’re in.

Historically, most strong direct marketing businesses were largely built from one or more aspects of superior merchandising, and this continues today. For both small and large catalogers, this metric is of course what EBITDA is all about, and the basis for multiple valuation. Of all the variables to focus on, this is the most important.