AMSTERDAM (Reuters) – German investor Joh A Benckiser (JAB) is to buy the owner of Douwe Egberts coffee in a 7.5-billion-euro ($9.8 billion) deal to create a global hot drinks empire aimed at taking on market leaders Nestle and Mondelez International.
D.E Master Blenders 1753, the Dutch owner of Douwe Egberts coffee and Pickwick tea, said on Friday it had reached conditional agreement on a 12.50 euros per share cash takeover offer from a group of investors led by JAB.
NEW YORK, April 11 (Reuters) – Troubled J.C. Penney Co Inc
has hired Blackstone Group LP’s financial
advisory arm to explore how best to position the firm
financially, three sources said on Thursday, while key investor
William Ackman said shareholders were willing to put up more
The prospect of financial backing is likely to help soothe
investors rattled by the department store chain’s controversial
decision this week to let go Apple alum Ron Johnson as
CEO after a failed turnaround and bring back his predecessor –
whose leadership was also much criticized.
NEW YORK (Reuters) – J.C. Penney Co Inc board member William Ackman on Thursday acknowledged the shortcomings of the CEO he handpicked to turn around the retailer and said he was optimistic about the company and its future.
Speaking at a luncheon in New York, Ackman said Penney’s former chief executive Ron Johnson was not at the company’s Texas headquarters enough, since his family lives in California. Even though Johnson worked hard, Ackman said the lack of his physical presence “affected the morale of the home team.”
(Reuters) – Burger King Worldwide Inc (BKW.N: Quote, Profile, Research, Stock Buzz) forecast a slightly higher quarterly profit on Thursday than Wall Street expected, even though spending among fast-food diners remains weak.
The hamburger chain, which has a long history of ownership and management changes, also said Chief Executive Bernardo Hees will leave to take over at H.J. Heinz Co (HNZ.N: Quote, Profile, Research, Stock Buzz).
April 10 (Reuters) – Constellation Brands Inc
reported a higher-than-expected fourth-quarter profit on
Wednesday, as the company benefited from an acquisition and
selling a greater number of more expensive products.
Constellation, the world’s largest branded wine company, is
poised to become the nation’s No. 3 beer maker behind
Anheuser-Busch InBev and Miller Coors ,
once it takes over Grupo Modelo’s U.S. business.
April 9 (Reuters) – In a case that could shake one of the
world’s largest accounting firms, KPMG said it
resigned as auditor of two U.S. companies as the FBI on Tuesday
began investigating insider trading allegations involving a
former KPMG senior partner.
The companies – nutritional products group Herbalife Ltd
and footwear maker Skechers USA Inc – said
separately that KPMG had quit as their auditor in connection
with alleged leaks of nonpublic information.
April 9 (Reuters) – KPMG resigned as the auditor of
Herbalife Ltd after one of its senior partners engaged
in insider trading in Herbalife stock, the nutritional products
company said on Tuesday.
Herbalife said in a statement that KPMG’s
resignation had nothing to do with its accounting practices or
the integrity of its management – issues called into question by
the high-stakes drama between hedge fund titans Bill Ackman and
Carl Icahn over the company.
NEW YORK, April 5 (Reuters) – Santa Cruz Nutritionals and
Nellson Nutraceutical LLC are looking for buyers as the latest
firms in the nutrition sector hoping to cash in on large
companies’ hunger for healthy products, three sources familiar
with the situation said.
Santa Cruz, a California-based maker of calcium gummies and
vitamin jelly beans, and Nellson, which makes nutrition bars and
powders, are both being advised by investment bank Houlihan
Lokey, said one of the sources. The sources, who spoke to
Reuters this week, declined to be identified as both processes
NEW YORK, March 27 (Reuters) – Carol’s Daughter, known for
its products for naturally curly hair, is exploring a sale of
the company, according to two sources familiar with the matter.
The tiny company, with big backers including Jay-Z and Will
Smith, is owned by private equity firm Pegasus Capital Advisors.
It is being advised by Moelis & Co, said the sources, who
declined to be identified as the process is private.
March 25 (Reuters) – The decline in U.S. sales of carbonated
soft drinks accelerated last year as more consumers reached for
alternatives, according to a leading beverage industry
Total sales volume fell 1.2 percent in 2012 to 9.17 billion
cases, according to Beverage Digest. That compares with declines
of 1 percent in 2011 and 0.5 percent in 2010.