LONDON (Reuters) – Private equity group BC Partners has acquired a 65.6 percent stake in French domestic cleaning products manufacturer Spotless Group from AXA Private Equity, AXA PE said in a statement on Wednesday. The deal could be worth around 600 million euros ($819 million), a source close to the deal told Thomson Reuters LPC. […]
NEW YORK (Reuters) – Walgreen Co (WAG.N) will buy Duane Reade for $618 million in cash, catapulting the largest U.S. drugstore operator into the top spot in the New York City area. Duane Reade is owned by private equity firm Oak Hill Capital Partners LP and operates 257 drugstores in the New York metropolitan area. […]
Castle Harlan has completed its acquisition of a majority stake Pretium Packaging LLC, a Chesterfield, Mo.-based maker of specialty plastic containers for the food, pharma, personal-care and household markets. Company founder Keith Harbison retained a minority position. As part of the deal, Pretium Packaging acquired the parent of Novapak Corp. from Kirtland Capital Partners. The total transaction was valued at $200 million.
Update: This story has been updated to correct the size of Monomoy's latest fund. Today Monomoy Capital Partners announced it acquired Casual Living USA, a Tampa, Fla.-based women's apparel retailer, from its family owners. I spoke with Daniel Collin, Partner with Monomoy, about the deal, which is the first add-on to the firm's catalog apparel platform, Boston Apparel Group. peHUB: You started the platform in July 2008, when you acquired Chadwicks and metrostyle from Redcats Group to form Boston Apparel Group for $25 million. Is this your first add-on to the platform? Daniel Collin: Yes. How many more acquisitions would you like to do on the platform? We're opportunistic. The initial investment has been very successful for us. We took it from a money-losing company to being profitable in 2009. We have capacity to be three times the size of our current business with our distribution, so we're actively looking for add-on acquisitions of direct retailers to plug into our cost structure.
Bruckmann, Rosser, Sherrill & Co. has completed its purchase of $25 million of convertible preferred stock in Ruth’s Hospitality Group Inc. (Nasdaq: RUTH), owner of several restaurant concepts including Ruth’s Chris Steak House. Proceeds will be used to pay down an existing credit facility.
LONDON (Reuters) – Advent International, Permira and Cinven are in the second round of an auction of British sofa retailer DFS, which could fetch up to 500 million pounds ($784.3 million), people familiar with the process said. A fourth private equity firm could also remain in the running for the sofa chain, some of the […]
Here are some potential M&A ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. For prior lists, see below. First Uranium, a publicly listed South African mining company, has formed a special committee to review strategic alternatives. L-1 Identity Solutions, Inc., a supplier of identity solutions and services, continues to explore strategic alternatives. MGM Mirage Inc. was rumored to be seeking a buyer for its 50 percent interest in Borgata Hotel Casino & Spa, which is a venture with Boyd Gaming Corp. Citi Property Investors is seeking a buyer.
LONDON (Reuters) – The London recording studio immortalised by the multi-million-selling Beatles album of the same name has been put up for sale by its owners. Debt-laden music company EMI is seeking buyers for Abbey Road Studios, a mecca for Beatles fans around the world who pose for photographs imitating the picture on the 1969 […]
Monomoy Capital Partners has acquired Casual Living USA Inc., a Tampa, Fla.-based women's apparel retailer. No financial terms were disclosed. Casual Living will become part of Boston Apparel Group, a Monomoy-sponsored platform that already includes the Chadwicks and metrostyle brands.
Chesapeake Midstream Partners has filed for a $345 million IPO. It plans to trade on the NYSE under ticker symbol CHM, with Citi and Morgan Stanley serving as co-lead underwriters. The Oklahoma City-based company was formed in 2008 as a 50/50 joint venture between Chesapeake Energy Corp. (NYSE: CHK) and Global Infrastructure Partners. As part […]