Olivia's Feed
Feb 10, 2015

Tea retailer David’s Tea prepares for IPO-sources

Feb 10 (Reuters) – Privately held Canadian specialty tea
retailer David’s Tea, whose investors include Lululemon
Athletica Inc founder Chip Wilson, has selected banks
for a potential initial public offering, according to two people
familiar with the matter.

Goldman Sachs Group Inc, JPMorgan Chase & Co
and Bank of America Corp have been assigned lead roles
in the IPO, which could come later this year, the people said.

Feb 9, 2015

Levy Acquisition Corp in the lead to acquire Del Taco: sources

By Olivia Oran

(Reuters) – Levy Acquisition Corp (LEVY.O: Quote, Profile, Research), the blank-check acquisition vehicle of Chicago restaurateur Larry Levy, is in advanced talks to acquire Del Taco Inc, a U.S. fast food chain specializing in Mexican cuisine, according to people familiar with the matter.

Levy is negotiating a deal that could value Del Taco at as much as $500 million, including debt, the people said this week. The acquisition vehicle needs to secure financing for the deal, and it is possible the talks could end without an agreement, the people added.

Feb 6, 2015

Budget fitness chain Planet Fitness plans IPO: sources

By Olivia Oran

(Reuters) – Fitness chain Planet Fitness Holdings LLC, known for its “judgment free zone” and low prices, is preparing for an initial public offering that could value it at more than $2 billion, including debt, according to people familiar with the matter.

Planet Fitness, which is majority owned by buyout firm TSG Consumer Partners, has interviewed investment banks to hire underwriters for an IPO that will likely come in the second half of 2015, the people said this week.

Feb 5, 2015

Exclusive: AdvancePierre Foods mulls sale for $2 billion or more – sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – AdvancePierre Foods is interviewing investment banks to prepare for a sale that could value the private equity-owned protein and sandwich supplier at more than $2 billion, including debt, according to people familiar with the matter.

AdvancePierre’s private equity owner, Oaktree Capital Group LLC (OAK.N: Quote, Profile, Research), is meeting with banks this week in order to appoint financial advisors that will help with the company’s sale process, the people said.

Feb 5, 2015

Exclusive: Mike’s Hard Lemonade up for sale – sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – Mike’s Hard Lemonade Co, owner of one of the best known malt beverage brands in the United States, is in the early stages of exploring a sale that could value it at more than $1 billion, according to two people familiar with the matter.

The Chicago-based company has initiated a sale process that is likely to attract the interest of large beverage companies, the people said this week.

Feb 4, 2015

Healthcare survey company Press Ganey picks banks for IPO: sources

By Greg Roumeliotis and Olivia Oran

(Reuters) – Private equity-owned healthcare research firm Press Ganey has hired underwriters for a potential initial public offering (IPO) that could value it at more than $1 billion, including debt, according to people familiar with the matter.

Buyout firm Vestar Capital Partners Inc, the owner of Press Ganey, has assigned lead roles to Barclays Plc (BARC.L: Quote, Profile, Research) and Goldman Sachs Group Inc (GS.N: Quote, Profile, Research) on the IPO, which is expected to come later this year, the people said on Wednesday.

Feb 4, 2015

Mike’s Hard Lemonade up for sale – sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – Mike’s Hard Lemonade Co, owner of one of the best known malt beverage brands in the United States, is in the early stages of exploring a sale that could value it at more than $1 billion, according to two people familiar with the matter.

The Chicago-based company has initiated a sale process that is likely to attract the interest of large beverage companies, the people said this week.

Feb 3, 2015

How the Actavis deal upended Allergan No. 2′s CEO ambitions

NEW YORK, Feb 3 (Reuters) – For two decades, Allergan Inc
president Doug Ingram labored to transform the
Botox-maker from a sleepy eye care upstart to a global
aesthetics giant. He was just a few months away from getting the
top job when a merger deal with Actavis Plc in November
thwarted his ambitions.

Ingram has now accepted an advisory role to facilitate the
merger and will soon be looking for a job outside the combined
company. Allergan’s derailed succession plans, disclosed by
Ingram and other top executives in interviews with Reuters,
underscore how corporate mergers can leave even some of the
industry’s top executives in the cold.

Jan 29, 2015

Hershey’s Krave buy reflects hunger for healthier snacks

NEW YORK (Reuters) – Hershey Co’s announcement on Thursday that it will buy jerky maker Krave Pure Foods Inc reflects a growing appetite for healthy snacks in the United States, even those that were once considered gas station staples. [ID:nL4N0V85VE]

Changes in Americans’ eating habits are fueling the trend. According to Nielsen data released earlier this month, 30 percent of U.S. consumers specifically look for food that is high in protein. That includes jerky: Sales of Slim Jim jerky were up 20 percent over the last 13 weeks, thanks to the success of bacon jerky products, according to ConAgra Foods Inc.

Jan 27, 2015

Hershey close to acquiring healthy snacks company Krave -sources

Jan 27 (Reuters) – Chocolate maker Hershey Co is in
late-stage talks to acquire Krave, a maker of healthy beef,
turkey and pork jerky snacks, according to people familiar with
the matter.

The deal is expected to value Sonoma, California-based Krave
at between $200 million and $300 million, the people said this
week. An announcement could come as soon as this week, they
added.