Consumer
PEP hires banks to advise on Griffin's Foods sale – report
Pacific Equity Partners (PEP) has appointed investment banks to advise on the potential sale of Griffin’s Foods, a New Zealand-based snack food business. It is thought the company could be sold for up to $750 million, including debt, Reuters reported,...
Japanese outbound M&A: Strategic imperative
Indonesian snacks and beverages producer GarudaFood appeared to be heading The Carlyle Group’s way in mid-June. The PE firm was said to have outbid Japanese beverage firm Suntory by agreeing to pay $200 million for a 25% stake in the company. Then silence....
Permira hits jackpot with Galaxy
Permira's casino gamble seems to have paid off in Macau. The UK-based private equity firm divested approximately 6.5% of its stake in Macau casino and entertainment operator Galaxy Entertainment Group for HK$4.8 billion ($614 million), selling 270 million...
PAG commits $250m to NASDAQ-listed Funtalk China
PAG Asia Capital has agreed to invest $250 million in Funtalk China Holdings, a NASDAQ-listed company that controls Chinese subsidiaries involved in the distribution and retail of mobile phone handsets, accessories and content.
PE-backed spices firm VKL in talks with Olam
Indian spices processor Vallabhadas Kanji (VKL), of which Argonaut Private Equity and Ascent Capital are minority backers, is close to securing a strategic investment agreement with agricultural commodities giant Olam.
NEA considering Flipkart investment - report
NEA, the US venture capital firm is considering an investment in Bangalore-based Flipkart, an online retailer of books, mobile phones and other consumer goods. Investment bankers familiar with the situation told The Business Standard that the company...
Bain denies talk of potential Gome exit
Bain Capital has said it plans to remain a long-term investor in Gome Electrical Appliances Holding, scotching reports in August that it had appointed a bank to arrange the sale of its shares. Bain owns 10% of the company, having invested $420 million...
Affinity in negotiations over Primo Smallgoods
Affinity Equity Partners is reportedly in exclusive negotiations for a controlling stake in Australian meat producer Primo Smallgoods in a deal that could value the company at up to $1 billion.
Private equity's fashion fix
Fashionable women the world over aspire to own something – a handbag, a coat, a pair of leather pumps – by a designer of such legacy and prestige as Valentino. But in May 2007, global private equity investor Permira pulled the ultimate one-upmanship:...
Bright Foods anticipates more acquisitions in Australia
China’s Bright Foods is looking to continue its buying spree in Australia following the completion of its acquisition of a 75% stake Manassen Foods. It hopes to use the market as springboard to becoming an international food producer of scale.
Gome reports 30% rise in net profit, targets growth in lower-tier cities
Bain-backed Gome Electrical Appliances has reported a more than 30% rise in net profit for the first half of 2011, attributed to the launch of 131 new outlets in second-tier cities. The company wants to add 260 stores by the end of the year.
Beacon, Mirah Hospitality back Indian fine dining chain
Beacon India Private Equity has invested INR80 million ($1.7 million) in Impresario Entertainment and Hospitality, which operates fine dining restaurants Mocha and Smoke House Deli. The firm’s contribution comes alongside a INR400 million commitment from...
VC-backed Chinese children's clothing retailer signs Disney deal
Greenbox, a venture capital-backed Chinese online retailer specializing in children’s clothes, has agreed to integrate Disney brands into its product lines. The Chinese company will design clothing lines inspired by Disney franchises including Mickey...
China's Zhongpin seen as potential PE target
Chinese pork processor Zhongpin has been tipped as a potential target for private equity investors. Tim Tiberio, an analyst at Chardan Capital Markets, said that the long-term opportunity for consolidation in China’s food processing industry “is too attractive...
Bright Food finally seals overseas acquisition
China's Bright Food Group is set to acquire a 75% stake in CHAMP Private Equity-controlled Manassen Foods, finally making a breakthrough in its long-held but often thwarted ambitions to take a significant step into overseas markets. The parties did not...
PEP, Unitas exit Independent Liquor to Asahi
Pacific Equity Partners (PEP) and Unitas Capital last week agreed to sell New Zealand beverage firm Independent Liquor to Japan’s Asahi Group for NZ$1.525 billion ($1.27 billion). The private equity firms secured a 1.5x return on their original NZ$1.2...
SABMiller launches hostile takeover bid for Foster's
SABMiller has launched a hostile takeover bid for Foster’s, worth A$9.5 billion ($10 billion), after the Australian brewer refused to negotiate on its initial proposal two months ago. SABMiller said Wednesday that it would put its A$4.90 per share cash...
Bright Food reaches agreement on Manassen purchase
China’s Bright Food Group has agreed to buy a 75% stake in Manassen Foods, which is majority-owned by CHAMP Private Equity. The size of the deal was not specified, but sources told Reuters that it values the Australian company at more than A$500 million...
Asahi to buy Independent Liquor from PEP, Unitas for $1.25b
Asahi Group will buy New Zealand beverage group Independent Liquor from Pacific Equity Partners (PEP) and Unitas for NZ$1.5 billion ($1.25 billion). The Japanese firm’s Australian subsidiary plans to buy all outstanding shares in Flavoured Beverages Group,...
Turnarounds in Thailand
Any discussion of private equity opportunities in Southeast Asia seems to hone in on Indonesia. Rich in commodities and with high household consumption levels, the country is perceived as large and lucrative enough for big ticket transactions. Thailand...
Italian motorcycle maker Ducati considers Hong Kong listing
Italy-headquartered private equity firm Investindustrial is considering listing its portfolio motorcycle company Ducati in Hong Kong in 2012.
Bright Food nears Manassen Foods purchase
China’s Bright Food Group is set to acquire Australian food producer Manassen Foods from CHAMP Private Equity for a price that gives the company an enterprise value, including debt, of more than A$500 million ($516 million).
L Capital takes stake in Ming Fung Jewellery
LVMH group’s private equity investment arm L Capital has expanded its Asia portfolio to include jeweler Ming Fung Jewellery Group, purchasing an 8.61% stake in the company for an undisclosed sum.
India Equity Partners buys restaurant chain Sagar Ratna Hotels
India Equity Partners, a New York-based private equity fund, has purchased a majority stake in specialty restaurant chain Sagar Ratna Hotels for INR1.8 billion ($40.2 million). The capital will be used to refurbish its existing branches and aggressively...