Private Equity
Frostkrone, a portfolio company of EMERAM Capital Partners, has acquired Rite Stuff Foods Inc, a specialty potato product maker. No financial terms were disclosed. Frostkrone is a European manufacturer of frozen convenience food and snacks.
2 min read · 28 February 2019
ORIX Mezzanine & Private Equity has exited its stake in Perennials and Sutherland LLC. No financial terms were disclosed. OMPE teamed up with Acacia Partners to invest in Perennials and Sutherland in December 2015. Acadia has also exited its stake in the company as a result of Bertram Capital investing in Perennials. Dallas-based Perennials is a designer of acrylic performance fabric and rugs for indoor and outdoor use and luxury outdoor furniture.
3 min read · 27 February 2019
Five Crowns Capital has sold Cosmetic Design Group to World Wide Packaging, which is backed by Bain Capital. No financial terms were disclosed. Based in Culver City, California, Cosmetic Design Group is a designer and formulator of nail and cosmetic products.
1 min read · 26 February 2019
Newell Brands has agreed to sell its Rexair business to Rhône Capital. No financial terms were disclosed. The deal is expected to close by the end of the second quarter of this year.
2 min read · 26 February 2019
Warren Buffett said Berkshire Hathaway overpaid for Kraft’s merger with Heinz, the Financial Times reported. “We overpaid for Kraft,” the story quoted Buffett saying on CNBC. The so-called Oracle of Omaha added that he was “wrong in a couple of ways on Kraft Heinz.” Buffett and 3G Capital acquired Kraft in 2015 to merge with Heinz. The deal valued Kraft at $62.6 billion. “Anything, almost anything at a price can be good, not everything,” Buffett said on CNBC. “But everything at a certain price can be bad. If you pay too much, you pay too much and that doesn’t change.”
1 min read · 26 February 2019
Yildiz Holding AS is selling its Jacob's cracker unit and production facilities in the U.K., Bloomberg reported. Yildiz, which owns McVitie’s digestives and Godiva chocolates, may sell the entire business or just a stake, the story said. Yildiz has hired Oppenheimer Holdings Inc to run the process, Bloomberg said.
1 min read · 26 February 2019
First Reserve has agreed to acquire South Carolina-based Refuel Inc, a retail fuel distribution and convenience store chain. Also, the private equity firm has agreed to acquire another South Carolina-based gas station and convenience store chain West Oil. No financial terms were disclosed.
3 min read · 22 February 2019
Red Collar Pet Foods, which is backed by Arbor Investments, has acquired Joplin, Missouri-based Hampshire Pet Products LLC, a provider of baked and cold formed pet products. No financial terms were disclosed. Duff & Phelps Securities was sell-side financial adviser to Hampshire Pet on the transaction.
4 min read · 21 February 2019
Strategic Value Partners has agreed to buy food ingredient and ethanol businesses from White Energy. No financial terms were disclosed. The deal is expected to close within 45 days.
3 min read · 20 February 2019
Butterfly portfolio companies Lemonade Restaurant Group and Modern Market Eatery have agreed to merge and form Modern Restaurant Concepts, a restaurant platform. As part of the deal, KKR will invest in Modern Restaurant Concepts. No financial terms were disclosed. Kirkland & Ellis acted as legal adviser to Butterfly and Lemonade on the transaction while Davis Wright Tremaine did likewise for Modern Market Eatery.
5 min read · 20 February 2019
