LONDON, Dec 31 (Reuters Breakingviews) - 3G Capital, best known for mega-deals like Kraft Heinz (KHC.O) and Anheuser-Busch InBev (ABI.BR), is tiptoeing away from its food-and-drink focus. The Brazilian-American fund on Friday said it was buying a controlling stake in Hunter Douglas (HUDN.AS), a Dutch company best known for its window shades. The 73% premium to the family-controlled company’s share price on Thursday looks toppy, but the implied $7.1 billion enterprise value is only 8 times next year’s EBITDA, using Hunter Douglas’s own forecasts. Taiwan’s Nien Made Enterprise (8464.TW) trades at 12 times, using the median Refinitiv estimate. The deal appears to fit 3G’s cost-cutting wheelhouse. The company run by Executive Chairman Ralph Sonnenberg is next year forecast to earn an EBITDA margin barely half of its Taiwanese rival. 3G Co-Managing Partners Daniel Schwartz and Alex Behring also appear to be keeping some capital back for future bolt-on deals. Assuming they fund the acquisition with debt equivalent to 6 times 2021 EBITDA, the equity check will be just $2 billion. The fund has $10 billion of dry powder, according to the Financial Times. The deal is smaller and involves a less splashy brand, but other than that it’s classic 3G. (By Liam Proud) Follow @Breakingviews on Twitter Capital Calls - More concise insights on global finance: Enel’s fintech pivot comes at generous price read more Ares gifts AMP’s new CEO a consolation prize read more Intel’s apology underlines China dilemma read more Test maker deal preps for life after Covid-19 read more Renault sends mixed Chinese messages read more