Sysco Corp announced it will buy rival US Foods for USD3.5 billion in a merger deal that will create a food distribution giant with around USD65 billion in annual revenue.
Hospitality/Food
Hilton Worldwide raises over $2.3 bln in biggest-ever hotel IPO
Hilton Worldwide Inc, the world's largest hotel operator, raised roughly $2.34 billion in its IPO on Wednesday after pricing shares toward the high end of the range.
Discovery mulls over Scripps Networks Interactive takeover
Discovery Communications is looking to buy Food Network majority owner Scripps Networks Interactive. The possible deal could bring in a combined market capitalization of $43 billion.
Bega extends takeover offer for Australian dairy firm Warrnambool
Australia-based dairy firm Bega Cheese's offered to merge with Murray Goulburn to to preserve the Australian ownership of Warrnambool Cheese and Butter (WCB), amid a three-way bidding contest with Saputo for WCB.
BBX Capital acquires Florida's chocolate maker Hoffman's
BBX Capital Corporation announced its acquisition of Florida-based premier chocolate product provider Hoffman's Chocolates, including its subsidiaries Good Fortunes and Boca Bons, for an undisclosed sum.
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Food-related companies like Hampton Creek Foods are seeing a rise in financial support from private equity firms and angel investors in the past few months to develop plant-based alternatives to food like eggs.
Bloomberg said in its report that nutrition company Herbalife Ltd attempted to destroy activist investor Bill Ackman's credibility after the latter claimed that the former is running a pyramid scheme.
Dairy products company WhiteWave Foods is set to acquire organic food producer Earthbound Farm from its existing shareholders including founders Drew and Myra Goodman and Kainos Capital for USD600 million.
Formosa International Hotels chairman Steven Pan Si-liang is not daunted to the task of expanding the Regent Hotel brand to saturated Hong Kong and China markets, as evident in a recent interview by the South China Morning Post.
American private equity firm Jordan Company has put up for sale its chemical management business Haas Group International. Sources estimated that the deal could be valued in between USD500 million to USD700 million.
Philippine-based grocery chain Puregold Price Club Inc has purchased a 49.34% stake in supermarket chain San Roque Supermarket, with plans to increase Puregold's exposure in several Metro Manila areas.
Illinois-based sterilization services provider Sterigenics International LLC signed a definitive agreement to acquire Florida-based firm Food Technology Service Inc in a deal priced at USD7.23 per share.
President and Chief Executive Officer Nobuhiro Torii told Bloomberg in an interview in Tokyo yesterday that Suntory Beverage & Food will not be actively pursuing acquisitions in the next 12 months following its debut on the Tokyo Stock Exchange this year.
Domino's Pizza chief executive Lance Batchelor decided to quit from Britain's biggest pizza delivery company as its shares dive by 8.7% on Friday morning. Batchelor will be joining a private equity-backed company in a non-competing sector.
