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Entries tagged "food"VC orders up $1.5M in cupcakesAscent Equity Capital invests $1.5 million in Phoebe's Cupcakes to take its pastries nationwide. Mars chews up WrigleyMars Inc. will buy gum maker Wm. Wrigley Jr. Co. for nearly $23 billion. This price is 4.3 times Wrigley's 2007 net sales and more than 35 times its 2007 earnings per share, Wrigley said. The deal creates a company with more than $27 billion in sales and upwards of 64,000 associates globally, the target's chairman Bill Wrigley Jr. wrote in an e-mail to employees. ... Could Nestle's Alcon sale beget more deals?Nestle SA's sale of a 25% stake in eye-care company Alcon Inc. for $11 billion could give the acquisitive Swiss consumer products giant ammunition for more deals. With some notable consumer product businesses on the auction block, Nestle would have some high-profile brands to buy.... For Monsanto, cash is the currency for dealsThese days making a deal with cash in your pockets is so much easier than borrowing to finance. Case in point, agribusiness Monsanto Co. Only six days ago, Monsanto said that it would have to raise earnings expectations for the third time this year and had enough extra cash to pursue deals in the near future. The future is now for Monsanto as it acquired Netherlands' De Ruiter Seeds Group BV on Monday for $863 million in cash. ... Food deals highlight strong domestic midmarket dealmakingThe tide has certainly shifted for dealmaking. Billion-dollar deals have become less common, and even middle-market deals, which increased during the second half of 2007, have also declined compared to its breakneck pace last year. Nonetheless, last week, all of the top 10 domestic deals were in the midmarket range. Call it a coincidence. Call it the aftereffects of the tightening credit markets for buyout shops. Or possibly, maybe companies are just shrewdly cherry picking assets in a down market. Whatever the reason, for one week the middle market was bulging once again, carried along by food deals. ... Merrill may tap Temasek for $5BMerrill Lynch & Co. may be the latest U.S. bank slammed by mortgage-related write-downs to tap a foreign fund for a much-needed cash injection. ... PE wins one battle, but loses anonymity in the processWhile private equity has won a reprieve in its battle over the taxation of carried interest, that may be cold comfort for Henry Kravis, who's not only facing protests at his Upper East Side home, but is the feature of a new, short documentary called "The War on Greed," which is available on YouTube below.... Investors pressure Beazer to cut off headBeing a CEO these days is a tough proposition. Investors, especially the board of directors of many public companies, are demanding change at the top spot immediately if expectations aren't met and big surprises arise. The latest company whose investors are demanding change is Beazer Homes USA Inc. ... ISS OKs Sirius-XM dealThe influential proxy advisory firm Institutional Shareholder Services Inc. on Friday said it is recommending shareholders approve Sirius Satellite Radio Inc.’s $13 billion merger with XM Satellite Radio Holdings Inc. ... Sony may sell animation bizSony Pictures Entertainment has reportedly hired Houlihan Lokey Howard & Zukin to explore the possible sale of its animation studio and special effects unit, The New York Times reports. The Times story estimated that the two units are worth about $500 million combined, which would amount to a $100 million gain on Sony's $400 million, 15-year investment in starting the units. ... Mergers & Acquisitions Institute: The party isn't over for everyoneThere's been an elephant in the room at the Mergers & Acquisitions Institute in Dallas, and that, of course, is the fact that big private equity deals have virtually vanished after the credit crunch brought on by the subprime mortgage implosion. Panelists referred to it in their remarks on Thursday — the famed return of the corporate buyer now that private equity firms can't borrow cheaply, deal multiples coming down, the emergence of more stock deals — and there was a lot of chatter about it at the cocktail reception Thursday night. But the subject was hit rather soberingly at the Friday... Nasser to kick Jaguar's, Land Rover's tiresAmidst all the chatter of Chrysler Group's hiring of former Home Depot Inc. CEO Bob Nardelli, news about Jacques Nasser's pending trip to the U.K. to visit Jaguar and Land Rover factories went overlooked by much of the press. Interestingly, the former Ford CEO (pictured at left), who seven years earlier was responsible for the creation of Ford's Premier Auto Group, may help the Dearborn, Mich., company dismantle it. Nasser, now with J.P. Morgan Chase & Co. affiliated buyout firm One Equity Partners, is expected to place a bid for the two brands, according to The Times of London.... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "food." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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