NEWS WE’VE FOLLOWED THIS WEEK:
The US M&A landscape will strengthen over the next 12 months, says 20% of respondents to a new Dykema survey, driven by stronger financial markets, increased capital availability, and stabilizing economic conditions.
M&A AND FINANCING NEWS
Small Girls PR (media agency) was acquired by Orchestra.
Esprit (retailer) sold its U.S. and European shoe trademark rights to Deichmann (German shoe retailer).
Voortman Cookies (J.M. Smucker’s cookie business) was sold to Second Nature Brands (backed by CapVest Partners).
Nugget Wraps (military pilot helmet custom wraps) was acquired by a Private Investor.
Allivet (online pet pharmacy) was acquired by Tractor Supply.
Cohn & Gregory Supply (industrial supplier) was acquired by Venturi Supply ( distributor backed by Trive Capital).
Quantum Design International (scientific instrument manufacturer) was acquired by Carlson Private Capital Partners.
Astier de Villate (French lifestyle brand) sold a majority stake to Vesper (investment fund).
The Only Agency (celebrity styling firm) sold a majority stake to Presidio Investors.
Mo' Bettahs ’s (Hawaiian restaurant) sold a majority stake to Trive Capital and Blue Marlin Partners, LLC from Savory Fund.
Brassica (fast-casual restaurants) sold a minority stake to Chipotle Mexican Grill.
Life Time Holdings (gym franchises) raised $500M in Senior Secured Notes.
Pure Fishing (fishing brands) entered into a five-year, $750M first lien credit facility from Monarch Alternative Capital LP and Silver Point Finance.
Vinted (thrifting marketplace) sold €340M in secondary shares to TPG and others at a €5B valuation.
belliwelli (wellness brand) raised a $10M Series B from Invus
Kirkland’s (home décor retailer) raised $25M from Beyond Inc., and gained the exclusive licensing rights to open and operate smaller-format Bed Bath & Beyond stores nationwide.
Tupperware Brands Corp. canceled its planned auction and agreed to sell to lenders for $23.5M in cash and $63M+ in debt relief.
Wendel Group made a control investment in Monroe Capital.
PUBLIC COMPANY NEWS
The FTC blocked Tapestry’s planned $8.5B acquisitions of Capri Holdings, citing competitive concerns.
The following public companies announced earnings this week: Beyond, Inc, Deckers Brands, Ermenegildo Zegna Group, EssilorLuxottica, Hermes, Kering, L’Oréal, Thule Group, Tractor Supply, and Zenga.
EVENTS
We’re thrilled to share that Delivering Good, Inc. will be hosting their gala next Tuesday at Gotham Hall! Join us in New York City for an unforgettable evening focused on making a positive difference. If your are unable to attend feel free to make a donation to Delivering Good: https://lnkd.in/eim_ytVU
BEFORE YOU GO
The New York Yankees will face off against the LA Dodgers in the first game of the world series, starting Saturday October 26th.
