U.S. buyout firm Cerberus Capital Management LP is working with a group of real estate firms on a possible bid for supermarket chain Supervalu Inc., the Wall Street Journal reported on Monday, citing people familiar with the matter. Supervalu is considering a sale after losing customers to competitors like Wal-Mart Stores Inc. and Kroger Co., which has caused the company to close stores and cut costs. The chain is struggling with $6 billion in long term debt and pension liabilities.
Carlyle Group LP said it will buy a Japanese unit of U.S. food packaging company Sealed Air Corp. at an undisclosed price, in the private equity firm's second Japanese acquisition in a month. Carlyle has agreed to acquire Diversey Japan, a major provider of cleaning, sanitation and hygiene products and services, from Sealed Air, the company said in a statement on Tuesday.
Private equity firm Sun Capital Partners won EU regulatory approval on Tuesday to acquire British drinks maker Rexam's cosmetics, toiletries and household care business for $459 million. Rexam, which makes Red Bull and Pepsico cans as well as packaging for food, healthcare and cosmetic products, is selling the unit, because of rising costs and lower volumes at the underperforming business.
ARAMARK said Monday that it will spin-off its interest in Seamless to ARAMARK shareholders. In 2011, ARAMARK sold a minority stake in Seamless, an online and mobile food ordering service, to Spectrum Equity.
Cerveceria Costa Rica struck a deal to buy privately held North American Breweries, which sells Genesee and Labatt beer in the United States, for $388 million in cash. KPS Capital Partners, the private equity firm that owns North American Breweries, said in a statement on Friday that it expected the deal to close in the fourth quarter. KPS earned a return of more than 9 times invested capital on the sale, according to a source familiar with the matter. Cerveceria Costa Rica is a unit of Florida Ice and Farm Co S.A.
Canada Pension Plan Investment Board, one of the country's top pension fund managers, on Friday outlined two major investments in the world of professional motor racing. CPPIB, known for staid investments in infrastructure projects, shopping centres, private equity firms and the like, said it had stuck a deal to buy a big stake in motorcycle grand prix organiser Dorna and was also financing a large chunk of a loan to Formula One Group, Reuters wrote. The pension fund manager said it had signed an agreement to acquire a 39 percent stake in Dorna - organiser of MotoGP events and the FIM World Superbikes Championship - from private equity firm Bridgepoint.
ABB Concise Optical Group has been recapitalized by Los Angeles-based private equity firm Riordan Lewis & Haden. Specifics of the deal were not publicized. ABB is a Coral Springs, Florida-based distributor of soft contact lenses.
New York private equity firm KPS Capital Partners has reached a deal to sell its North American Breweries Holdings LLC to Cerveceria Costa Rica in a deal worth $388 million. After forming the company in 2009, KPS would roll Labatt USA, Magic Hat, and Dundee, along with other brands, into the company’s platform.
Prospect Global Resources, the Colorado based potash exploration and extraction firm, has entered into an agreement with New York-based, listed private equity firm Apollo Global Management in which Apollo will lend the company $100 million in the form of 10% convertible second lien notes with an option to purchase stock.
Once a private equity firm passes into zombieland, can it ever come back? J.W. Childs Associates may have something to say about that.