NEWS WE’VE FOLLOWED THIS WEEK:
The International Longshoremen’s Association, employees for East Coast and Gulf Coast ports, suspended their strike after they went on strike on Tuesday, potentially affecting over half of American import and export activities.
U.S. added 254k jobs last month, with the pace of hiring up strongly and unemployment rate down to 4.1%.
Consumer sentiment rose 3.2% in Sept’24, the highest level in five months and 13% above YTD’23, per the University of Michigan’s Consumer Sentiment Index.
Amazon Prime Big Deal Days are Oct 8 & 9; will be current sign of consumer strength.
M&A AND FINANCING NEWS
Authentic Brands Group completed its acquisition of Champion from Hanesbrands Inc. and partners with Ames Watson (GearCO), AMG Companies, BBC and Gildan.
Off-White (lifestyle brand) was sold by LVMH to Blue Star Alliance.
HRB (former High Ridge Brands) sold to Sodalis Group by Tengram Capital Partners.
True Beauty Ventures invested in Sofia Pavitt Face.
K & E Tackle (fishing brand house) was acquired by GSM Outdoors.
Peak Achievement Athletics (athletic brand owner and Bauer Hockey parent) was acquired by Fairfax Financial Holdings Limited.
Accord Equipment Finance assets were acquired by Rosenthal & Rosenthal, Inc..
A majority stake in Dunlop Protective Footwear (protective Wellington boots) was sold by EQT Mid-Market Europe fund to Glide Equity Management (GEM).
Killington/Pico Ski Resort Partners, LLC (ski resorts) sold a minority stake to Great Gulf.
GHP Group, Inc. (consumer outdoor living & indoor heating products) was acquired by Turnspire Capital Partners.
MOSCHINO (fashion brand backed by Aeffe) sold its beauty rights to EuroItalia.
Filippo De Laurentiis (Italian knitwear) sold a majority stake to Made in Italy Fund - Quadrivio & Pambianco.
Lucky Energy (energy drink) raised a $11.8M Series A from Brand Foundry Ventures, among others.
Marlo (women's health) raised an investment from Love x Money Ventures.
PUBLIC COMPANY NEWS
Mulberry rejected Frasers Group offer and announced it would independently raise capital instead.
The following public companies announced earnings this week: Costco, Nike, & Levi Strauss
EVENTS
We’re excited to announce that Delivering Good, Inc. will be hosting their annual gala on October 29th at Gotham Hall in NYC! Join us for an unforgettable evening dedicated to making a positive impact.
BEFORE YOU GO
Thinking of those impacted by Hurricane Helene; please support those in need. MMG Advisors, Inc. supports Delivering Good, Inc. Good and appreciates support to those who give to any charity.
In Baseball, the Mets stun Brewers and advance for more games.
October is Breast Cancer Awareness Month.
