Roundup of US private equity-related deals in the consumer sector
In 3Q14 there were 37 consumer sector deals in the US involving private equity firms, valued at a total of USD 4.7bn, according to Mergermarket data. Those figures represent a decline from 47 deals with an aggregate value of USD 10.1bn in 3Q13.
Below is a roundup of consumer-sector situations in the US involving private equity investors that are ongoing as of the end of 3Q14. The date shows the last update published by this news service. The list does not take into account deals that may have been completed but have not yet been made public.
It’s a good time to head for the exit…
Jimmy John’s (25/09/2014)
The sale process of sandwich chain Jimmy John’s, in which Weston Presidio holds a 33% stake, has stalled after founder and majority owner John Liautaud decided not to go through with the sale, this news service reported. Reuters reported early in the month that the company was in the early stage of a sale process with North Point Advisors.
Performance Health and Wellness (23/09/2014)
Private equity sponsor Gridiron Capital mandated Credit Suisse to explore strategic alternatives for Performance Health and Wellness, a maker of products used for physical therapy and athletic training, this newswire reported.
The Habit (22/09/2014)
The Habit, a hamburger chain backed by KarpReilly, confidentially filed for an initial public offering on 22 September. It plans to raise between USD 75m and USD 100m. This news service reported in July that The Habit was receiving pitches from underwriters about a potential public listing.
Bumble Bee Foods (10/09/2014)
Bumble Bee Foods, the San Diego, California-based canned fish company, is likely to appoint Morgan Stanley and Rothschild for its sale process, Mergermarket reported. Reuters previously reported that private equity sponsor Lion Capital was looking to sell the company for around USD 1.5bn. It also reported that Thai Union Frozen Products and Post Holdings (NYSE:POST) had shown early interest in Bumble Bee.
Performance Food Group (09/09/2014)
Performance Food Group, a foodservice distributor counting Blackstone and Wellspring as backers, filed an S-1 for an initial public offering in which it could raise USD 100m. The company generated USD 13.7bn in net sales for the fiscal year ending 28 June 2014. Credit Suisse Securities and Barclays Capital are acting as book-runners for the offering. Simpson Thacher & Bartlett LLP is providing legal counsel in connection with the offering.
Still time to join the party…
Fogo de Chão (19/09/2014)
Fogo de Chão, the Dallas-based Brazilian steakhouse chain, is expected to invite investment banks to a bake off to be underwriters for an IPO, Mergermarket reported. Financial backer Thomas H. Lee Partners acquired the company in 2012 for USD 400m.
Atkins Nutraceuticals (17/09/2014)
Roark Group-backed Atkins Nutraceuticals has not yet mandated a bank to handle a sale, but bankers told this newswire that a sale could happen in 1Q15. A source familiar with the company told Mergermarket that the company’s EBITDA is materially higher than USD 70m. Roark acquired Atkins in December 2010 for an undisclosed amount.
We haven’t heard of these in a while, have you?
Stuart Weitzman (15/08/2014)
Stuart Weitzman, the women’s shoe retailer whose parent Jones Group is backed by Sycamore Partners, hired Goldman Sachs and Citi to advise on a sale, Reuters reported. The news service also reported the retailer could sell for around USD 800m to USD 1bn.
Rue La La (28/07/2014)
Online flash sale site Rue La La hired J.P. Morgan to explore a potential sale, according to Reuters. The newswire also cited sources who said Gilt Group was weighing a potential bid for Rue La La that would value the company at around USD 400m.
J. Jill (22/7/2014)
Women’s apparel retailer J. Jill, backed by Golden Gate Capital and Arcapita, was expecting first round bids in July, this newswire reported, adding that Bain Capital and Onex Partners were among the private equity firms vying for the company. The company appointed Morgan Stanley and Houlihan Lokey in April to run the sale process.