Olivia's Feed
Aug 26, 2014

Exclusive: OtterBox maker explores $2.5 billion-plus sale: sources

By Greg Roumeliotis and Olivia Oran

(Reuters) – Otter Products LLC, the privately held company that makes the OtterBox protective cases for mobile phones, is exploring a sale that could value the company at more than $2.5 billion, including debt, according to people familiar with the matter.

Otter Products, founded in 1998 by entrepreneur Curt Richardson and owned by him and his family, has hired investment bank Goldman Sachs Group Inc to manage the sale process, the people said this week.

Aug 26, 2014

Ann Taylor parent taps JPMorgan to weigh potential sale: sources

NEW YORK (Reuters) – Ann Inc (ANN.N: Quote, Profile, Research, Stock Buzz) has hired JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) to explore strategic alternatives, including a potential sale of the women’s retailer, according to people familiar with the matter.

The hiring of an investment bank comes as the Ann Taylor owner, best known for its women’s suits and office wear, faces pressure from hedge funds Engine Capital LP and Red Alder LLC to consider selling itself to a private equity firm or a large international retailer.

Aug 21, 2014

Exclusive: Shake Shack picks JPMorgan, Morgan Stanley to lead IPO – sources

NEW YORK (Reuters) – Shake Shack, the fast-food restaurant chain that has developed a cult following for its ‘Shackburgers’, ‘flat-top’ hot dogs and eponymous shakes, has selected JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) and Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) to lead a proposed initial public offering, according to people familiar with the matter.

The potential offering, which could come as soon as this year according to the people, would be the biggest public event for a company that started out of a hot dog kiosk in New York’s Madison Square Park in 2004.

Aug 20, 2014

Exclusive: Bain Capital to invest in shoemaker TOMS- sources

NEW YORK (Reuters) – Private equity firm Bain Capital LLC has agreed to acquire a 50 percent stake in TOMS Shoes Inc in a deal that values the company, which makes casual footwear known as alpargatas, at about $625 million including debt, according to people familiar with the matter.

Bain prevailed over other private equity firms in an auction for TOMS and a deal announcement could come as early as Wednesday, the people said. TOMS founder Blake Mycoskie, who has been sole owner, will retain half of the company and stay at the helm.

Aug 19, 2014

Bumble Bee attracts takeover interest from Thai Union, Post: sources

NEW YORK (Reuters) – Bumble Bee Foods has received takeover overtures from canned tuna giant Thai Union Frozen Products PCL and U.S. packaged foods company Post Holdings Inc in recent months, according to people familiar with the matter.

The largest canned tuna and sardines producer in North America, Bumble Bee Foods is set to launch a sale process in the fall amid strong interest from industry players and has appointed an adviser to assist with that effort, the people said.

Aug 18, 2014

ConvaTec owners eye 2015 sale as buyout interest builds-sources

NEW YORK, Aug 18 (Reuters) – ConvaTec’s private equity
owners plan to explore a sale of the medical device maker next
year, even as interest from several healthcare companies in a
potential $10 billion acquisition intensifies, according to
people familiar with the matter.

Amid a wave of mergers in the healthcare sector aimed at
reducing corporate tax rates, Luxembourg-based ConvaTec has
emerged as a target for U.S. companies looking to move their tax
domiciles abroad in a practice known as inversion.

Aug 18, 2014

P&G eyes Duracell, Braun in sweeping brand culling: sources

NEW YORK (Reuters) – Procter & Gamble Co (PG.N: Quote, Profile, Research, Stock Buzz) is working with advisors including Goldman Sachs Group (GS.N: Quote, Profile, Research, Stock Buzz) as the world’s largest household products maker reviews up to 100 underperforming brands for potential divestiture, people familiar with the matter said.

While P&G has yet to determine which brands it will seek to shed, Duracell batteries and Braun shavers are the two largest assets likely to be divested, the people said, asking not to be named because the matter is not public.

Aug 15, 2014

Exclusive: Shoe retailer Stuart Weitzman to go on auction block – sources

NEW YORK (Reuters) – Women’s shoe retailer Stuart Weitzman is preparing to launch a sale process and has tapped investment banks Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) and Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) to assist with the effort, people familiar with the matter said.

The New York-based retailer could fetch a price well below $1 billion, two of the people said this week. Others said the ultimate sale price could be around $800 million.

Aug 15, 2014

Exclusive: Shake Shack fast-food chain preparing for an IPO – sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – Shake Shack, the fast-food restaurant chain famous for its hamburgers and milkshakes, is preparing to go public, seeking to tap stock market demand for popular casual dining companies, according to people familiar with the matter.

Shake Shack’s majority owner, Union Square Hospitality Group LLC, has interviewed investment banks in recent weeks to appoint underwriters for an initial public offering, the people said on Friday.

Aug 15, 2014

Shake Shack fast-food chain preparing for an IPO -sources

Aug 15 (Reuters) – Shake Shack, the fast-food restaurant
chain famous for its hamburgers and milkshakes, is preparing to
go public, seeking to tap stock market demand for popular casual
dining companies, according to people familiar with the matter.

Shake Shack’s majority owner, Union Square Hospitality Group
LLC, has interviewed investment banks in recent weeks to appoint
underwriters for an initial public offering, the people said on
Friday.