Private Equity
Kroger Co said March 19 that it agreed to sell its Turkey Hill business to Peak Rock Capital. Financial terms weren’t announced. Peak Rock has agreed to continue operating the Turkey Hill business out of its Conestoga, Pennsylvania facility with its nearly 800 associates and under the same Turkey Hill brand.
2 min read · 20 March 2019
Ares Management and Crescent Capital Corp are taking control of Savers LLC, a for-profit thrift-store chain, from Leonard Green & Partners and TPG, Bloomberg is reporting. Ares and KKR are backing about $590 million of funded debt, according to a restructuring agreement cited by the story. Ares and Crescent are injecting $165 million in cash and would collectively hold a controlling stake in the company, Bloomberg said. Savers plans to complete the deal out of court within the next two weeks but is prepared to file for bankruptcy protection, the story said.
1 min read · 19 March 2019
Black Dog Venture Partners said March 18 that it acquired a 10 percent stake in Chronic Internet. Financial terms weren’t announced. Chronic Internet, a holding company, owns a portfolio websites focused on the cannabis industry without the direct sale of any cannabis products.v
2 min read · 18 March 2019
TorQuest Partners has acquired Delta, British Columbia-based Prepac Manufacturing Ltd, a maker of ready-to-assemble home furniture sold through online retailers. No financial terms were disclosed. Steve Simpson, founder of Prepac, will also retain a significant investment in the business and sit on the board of directors. Prepac President Jim Mathison and the senior management team, will continue to run the company.
3 min read · 14 March 2019
Kalisher, a portfolio company of LongWater Opportunities, has acquired Soho Myriad, a provider of custom art packages for the hospitality, luxury, cruise line and high-end commercial industries. No financial terms were disclosed.
3 min read · 13 March 2019
Strand Equity has invested in The Real Good Food Co LLC and has a minority stake. Financial terms weren’t announced. Real Good, of Glendale, California, provides high protein, low-carb comfort food made that it says are made simple, real Ingredients. BofA Merrill Lynch provided financial advice to Real Good.
3 min read · 13 March 2019
The sale of Nestle SA’s skin-health business, which could fetch $8 billion to $10 billion, has hit the second round, Bloomberg reported. A consortium that includes Advent International, Cinven and GIC Pte, as well as KKR & Co and EQT Partners are among the firms brought through to the second round, the story said. L’Oreal SA, Unilever NV and Carlyle Group LP were also invited, Bloomberg said.
1 min read · 13 March 2019
L Catterton has agreed to sell CorePower Yoga, a yoga fitness studio operator, to TSG Consumer Partners. No financial terms were disclosed. BofA Merrill Lynch served as financial adviser to CorePower Yoga while Kirkland & Ellis providing legal counsel.
4 min read · 12 March 2019
Tecum Capital Partners has made an investment in Gilman, Wisconsin-based Gilman Cheese Corporation, a maker of processed cheese. Tecum backed Borgman Capital's majority recapitalization of Gilman.
2 min read · 12 March 2019
Ardenton Capital has made an investment in UK and Ireland-based based Budget Greeting Cards, a designer and seller of greetings cards and gift wrap. No financial terms were disclosed.
3 min read · 11 March 2019
