Billionaire businessman Carlos Slim's private equity fund has sold its stake in Mexican pharmaceutical company Landsteiner Scientific to a fund related to that company.
Restaurant chain Cracker Barrel Old Country Store Inc has rejected activist investor and top shareholder Sardar Biglari's demand to sell itself, Reuters reported.
Insight Venture Partners has bought a "substantial" stake in Planview. No financial terms were disclosed. Lazard advised Planview on the transaction. In conjunction with the funding, Greg Gilmore has been named president and CEO of Planview. Also, Larry Handen, Peter Sobiloff and Hilary Gosher, managing directors at Insight Venture Partners, will join the firm's board of directors. Based in Austin, Texas, Planview is a provider of portfolio and resource management software.
Bain Capital has agreed to buy a majority stake in Bob’s Discount Furniture. No financial terms were disclosed for the transaction, which is expected to close in the first quarter of 2014. Headquartered in Manchester, Conn., Bob's Discount Furniture is a retailer of low-cost furnishings. BofA Merrill Lynch is advising Bob's Discount Furniture on the deal. RBC and UBS are providing financing for the transaction. Bob's Discount Furniture was owned by private equity firms KarpReilly and Apax.
Israeli fashion chain Fox-Weizel Ltd said on Monday it has been approached by private equity firm Apax Partners regarding an investment in the company.
Brynwood Partners has agreed to sell DeMet's Candy Company for $221 million to Yildiz Holdings, owner of Godiva chocolate brands. The deal is expected to close in 2014. Brynwood acquired the brands that eventually comprised DeMet's from Nestlé USA in separate transactions starting in 2007. After the deal closes, DeMet's chief executive officer Peter Wilson will join Brynwood.
The Blackstone Group agreed to acquire $200 million of newly issued Series A convertible preferred shares in Crocs. Crocs, in turn, plans to use the investment as part of a $350 million stock repurchase program that will reduce the company's publicly traded common stock float by about 30 percent. Also, Crocs chief executive John McCarvel announced his plans to retire in 2014.
Brookwood Financial Partners has acquired The Embassy, a 10-story, multi-tenant office property located in the Las Colinas master-planned development of Irving, Texas. Brookwood plans to make more than $2 million in capital improvements to the property, including renovating the lobby, common area hallways, elevator cab interiors, bathrooms, exterior entrances and upgrading landscaping and mechanical systems.
U.S. wireless communications company LightSquared proposed exiting bankruptcy with financing from $2.75 billion in fresh loans and an equity investment of at least $1.25 billion, according to court documents.
Atlanta-based private equity firm Roark Capital Group has bought a majority stake in CKE from Apollo Gold Management. No financial terms were disclosed. Goldman Sachs and Wells Fargo Securities advised CKE on the deal while Credit Suisse advised Roark. Headquartered in Carpinteria, Calif., CKE is the parent of the Hardees and Carl’s Jr fast food chains.