LVMH buys Tiffany’s

Reuters reports, LVMH has reached a definitive agreement to buy US jewellery company Tiffany & Co.
LVMH offered $135 per share all-cash, bringing the purchase price to $16.2 billion.

The transaction will close in the middle of 2020.

In 1997 LVMH bought DFS Group (Duty Free Shops) and Sephora (fragrances and beauty).

In diamonds LVMH also cooperates with De Beers.

BlackRock buys into ABG

According to Reuters, BlackRock bought shares worth US$ 875 Millions of Authentic Brands Group (ABG), making it its biggest shareholder.

The purchase values ABG above US$ 4 Billion.

ABG was funded primarily through Leonard Green & Partners.

ABG buys and licenses famous brands like Judith Leiber, Hickey-Freeman, Jones NY, Juicy Couture, Frye, and Nautica.

It also manages celebrities, f. e. Marilyn Monroe, Elvis Presley, Muhammad Ali, Shaquille O’Neal, Greg Norman, and Michael Jackson.

Callaway buys Jack Wolfskin

According to wuv, Callaway Golf Company will buy the outdoor company Jack Wolfskin for Euro 418 million.

For a while Jack Wolfskin was owned by Barclays Private Equity and Quadriga Capital. Then Blackstone bought the company in 2010, supposedly paying Euro 700 million at the time.

And in 2017 a couple of investors got involved, including Bain Capital, H.I.G. Bayside Capital, CQS, Avenue Capital and Blue Mountain Capital Management.

Bacardi acquires Patron Spirits International AG

Bacardi Ltd., owner of famous brands like Barcadi, Dewars, Martini, Bombay Sapphire, Grey Goose, and Molinari, acquires the owner of Patron Tequila.

The deal is valuing the company at US$5.1 billion.

Diageo Plc paid $1 billion to acquire George Clooney’s startup Casamigos in 2017. And Pernod Ricard SA acquired the Del Maguey brand in June.

While Becle SAB, producer of Jose Cuervo tequila, raised US$790 million in an initial public offering a year ago.

EQT sells CBR with Street One, Cecil

According to LTO, EQT is selling the CBR Fashion Group. CBR is the parent company of the brands Street One and Cecil.

Alteri Investors is the buyer together with Joint-Venture-Partner Apollo Global Management.

In November 2017 CBR Fashion Group issued bonds of €450 millions. EQT bought CBR in 2007 from Cinven and Apax, which acquired it 2004 from the founders.

Borsalino insolvent

According to various news reports, Borsalino Giuseppe & Fratello insolvent and will be liquidated after a court decision on Monday. Supposedly the brand is not affected.

A few years ago Hereas Equity acquired the now 160 years old company The purchase price was given at €20 Mill., and Hereas Equity claims to have invested €10 Mill. in sales and marketing.

The brand is famous worldwide, partially due to the classic movie with the same title. In Spring 2017 the Italian government issued a Borsalino postal stamp.

In May 2017, Heras Equity claims, to have bought back the Borsalino trademarks from a bank for €18 Mill. Prior those trademarks had been sold in a sale-leaseback transaction.

The total investment would have been €48 Mil., with annual revenues of ~€17 Mill.

According to Hereas Equity the production is in liquidation. The trademarks, sales and shipments are supposed to continue.

Hisense buys Toshiba TV business

After it acquired the German Loewe TV brand a while ago, Hisense will purchase the Toshiba TV production, R&D and operation service.

Hisense will purchase 95% of Toshiba Visual Solutions Corporation, a wholly owned subsidiary of Toshiba Corporation, with Toshiba retaining 5%.

The purchase price is 12.9 billion Japanese Yen.

Along with the businesses Hisense will obtain a license to the Toshiba brand for a period of 40 years.