NEWS WE’VE FOLLOWED THIS WEEK:
Gift cards, apparel, accessories, and jewelry will be the most popular gift categories in 2024, predicts the ICSC Holiday Intentions Survey.
Consumers are expected to spend over $125B during Thanksgiving Weekend 2024, also predicted by the ICSC.
The global social commerce market is expected to gross $688B in 2024 (up 20% from 2023’s $571B), forecasts Statista.
Outdoor recreation contributed $1.2T to the U.S. Economy and supports over 5 million jobs, reports the Bureau of Economic Analysis.
M&A activity is expected to increase in 2025, with Citigroup’s Jane Fraser saying it’s “game on” for clients pursuing new deals and J.P. Morgan’s Jamie Dimon remarking that “animal spirits will be unleashed.”
M&A AND FINANCING NEWS
Helen of Troy acquired Olie & June (nail care) for $240 M.
Jersey Mike's Subs’s (sandwich chain) was acquired by Blackstone.
The North American cat food and pet treat businesses of Whitebridge Pet Brands was acquired by General Mills from Belgian PE Firm NXMH.
A-COLD-WALL*-Wall (streetwear brand) was acquired by Four Marketing from Tomorrow Ltd (fashion accelerator).
Crown Affair (haircare)raised $9 million led by True Beauty Ventures.
Panini Kabob Grill (PKG) Grill (fast casual Mediterranean food chain) was acquired by Corbel Capital Partners.
Ned (supplement brand) was acquired by Foria.
IRIS Ventures invested in Superlativa (supplements).
Faircraft (lab crown leather start up) raised capital led by Kindred Ventures.
Hammond's Candies (candymaker) was acquired by Lolli & Pops (backed by TerraMar Capital LLC).
Grant Thornton (US) UK (accountancy) sold a majority stake to Cinven.
Max Matthiessen (financial advisor) sold a majority stake to the Ontario Teachers' Pension Plan’ and Nordic Capital.
Tru Zip (zippers) was spun off by owner Nite Ize, Inc. into an independent brand.
Jessica McCormack (diamond jeweler) sold a substantial minority stake to Lingotto Horizon.
ŌURA (health tracking ring) raised $75m from Dexcom.
Ladder (strength training app) raised $15M from Point72 Ventures and ADVantage, and also secured a $90M growth investment from General Catalyst’s Customer Value strategy.
Fear of God (lifestyle brand) signed a multiyear partnership agreement with the National Basketball Association (NBA) and WNBA (Women's National Basketball Association).
Basic Fun! (branded toys) raised $50M in exit financing from Great Rock Capital Partners, LLC.
New Guards Group (FARFETCH-owned brand house) filed for bankruptcy protection in Italian court.
PUBLIC COMPANY NEWS
The following public companies announced earnings this week: Amer Sports, Citi Trends, La-Z-Boy, Lowe’s, Mytheresa, Target, TJX Companies, Walmart, Wilson, and Williams-Sonoma.
BEFORE YOU GO
Geno Auriemma (UConn Women’s basketball coach) became the all-time most winning coach in NCAA basketball history, winning his 1,217th game last week against Fairleigh Dickinson.
Wishing everyone celebrating a Happy Thanksgiving!
