| London - Mergermarket, a media company specialising in corporate financial news and analysis, has just disclosed the "June Mergermarket European Consumer deals round-up", a roundup of the largest pending deals in the European consumer and retail sectors over the last month of June 2014. The date shows the last update published by this news service. This list does not take into account deals that may have been completed but have not yet been made public. It was compiled by Virginia Garcia Martinez. Wild Flavors (30/06/2014) German flavours company Wild Flavors has attracted a JPY 300bn (USD 2.96bn) bid from Japanese seasonings maker Ajinomoto, according to Nihon Shimbun. If successful, this would be Ajinomoto’s largest deal to date. US-based Archer Daniels Midland is also bidding for Wild Flavors. A subsequent newswire report said the company has almost reached an agreement to acquire the business in a USD 3.4bn deal. Co-op Pharmacy (30/06/2014) The auction for the Co-Operative Pharmacy is believed to be down to two main contenders, UK-based Lloyds Pharmacy and private equity firm Carlyle, the Sunday Times reported. A previous report by Mergermarket said the only remaining bidders were Carlyle and Terra Firma, after Cinven and Charterhouse Capital Partners dropped out following second round bids. It is not known whether regulators could object to a competitor like Lloyds acquiring the assets. Unilever (29/06/2014) Anglo-Dutch listed consumer goods firm Unilever has mandated PwC to sell its hair products unit Brylcreem, theSunday Telegraph reported. A number of smaller personal care brands are also being considered for a sale. Strategic buyers from China and India are expected to show an interest in the asset. Unilever paid GBP 1bn (EUR 1.3bn) for Brylcreem and other brands previously owned by Sara Lee. Separately, Unilever has been rumoured as a takeover target from a private equity consortium looking to break it up to sell its 400 brands to rivals, includingProcter & Gamble and Nestle. Roberto Cavalli (27/06/2014) Italian fashion house Roberto Cavalli has terminated talks with suitor Investcorp, a newswire report said. The private equity house balked at an 18x EBITDA multiple valuation being sought by Cavalli for a 60% stake. Talks with Permira also broke down last May. Bonelli Erede Pappalardo is providing Cavalli legal advice. Qatar Holding has also been reported as a potential bidder. Danone (27/06/2014) Listed French food company Danone saw its share gain on takeover talks, according to a newswire report. It cited analysts at Natixis who believe there is a growing chance of a bid for the company if it does not sustainably improve its financial ratios. Listed Swiss peer Nestle and US-based PepsiCo are considered the most likely bidders. Danone has a market cap of EUR 35.7bn. Giochi Preziosi (25/06/2014) Italian toy maker Giochi Preziosi has been targeted by Chinese investors, Milano Finanza reported. Owner Enrico Preziosi, with a 42% stake, has sounded out around four potential investors from Shanghai and Shenzen regarding Clessidra’s 38.8% stake. Other shareholders, Intesa Sanpaolo, with a 14.2% stake, and Idea Capital Fund, with a 5%, will have to agree to the sale. The company had turnover of EUR 900.6m for the FY 2012-2013, with negative EBITDA of EUR 28.8m. It owes banks EUR 260m. Refresco Gerber (24/06/2014) Dutch bottler and soft beverages manufacturer Refresco Gerber has hired JPMorgan to pursue a dual-track, Sky News said. A sale is more likely than a flotation, it added. KKR and Blackstone could be likely bidders. Current investors include 3i, with a 20% stake, an Iceland-based consortium, and Hanover Acceptances. A sale could value the company at more than GBP 1bn. C&C Group (13/06/2014) Shares of Irish drinks company C&C Group gained on talk of takeover interest, the Irish Times reported. The group could be a target for global peers such as SABMiller and Anheuser-Busch Inbev. A UK listing could also be pursued by the company, it added. It has a market cap of EUR 1.68bn. WM Morrison (10/06/2014) Interest from private equity firms and activist shareholders appears muted as turmoil at the troubled UK grocerMorrison intensifies, Mergermarket reported. CVC and Carlyle were approached last February by a member of the Morrison family and held discussions regarding a move to take it private, but Carlyle showed no interest while CVC is watching the situation from afar, it added. The main problem is the lack of a clear exit strategy three to five years down the line. SIG Combibloc (10/06/2014) Swiss drink cartons maker SIG Combibloc Group could be sold for around USD 5bn, according to a newswire report. Graeme Hart, the New Zealand financial tycoon, is the owner. Goldman Sachs has been appointed to assess options. It could fetch a 10x EBITDA valuation. The company’s EBITDA is thought to be around USD 500m. Hart bought the business in 2007 for USD 2.3bn. More on: mergermarketgroup.com (Omniapress International 15.07.2014) |