M and A Navigator: Deal pipeline -16 March.
MANews-(C)2009-2018
The following is a list of deals covered in detail by M and A Navigator this week:
-VF CORP TO ACQUIRE FOOTWEAR BRAND ALTRA FROM ICON HEALTH/FITNESS
North Carolina, US-based lifestyle apparel company VF Corp. (NYSE: VFC) has agreed to acquire the Altra footwear brand from home, commercial and connected fitness company Icon Health and Fitness, Inc., the company said.
Terms of the agreement were not disclosed. The transaction is expected to be completed in April 2018 and the addition of the Altra brand to VF's portfolio is expected to be immediately accretive to earnings per share. VF Corp. said the acquisition of the Altra brand brings to VF a differentiated technical footwear brand and a capability that when applied across VF's outdoor footwear, direct-to-consumer and international platforms will serve as a catalyst for growth.
Status: Agreed
-CENTRAL GARDEN/PET ACQUIRES COMMERCIAL FLOWER GROWER BELL NURSERY
California, US-based lawn and garden and pet supplies provider Central Garden and Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) has purchased Maryland, US-based commercial flower and plant grower Bell Nursery Holdings, LLC, the company said.
Central Garden and Pet said the live plant area is an attractive growth opportunity that is growing faster than the overall garden industry and is synergistic with its existing garden portfolio.
Status: Closed
-JAM CITY ACQUIRES COLOMBIA-BASED MOBILE GAME DEVELOPER BRAINZ
California, US-based mobile entertainment company Jam City has acquired the assets of Colombia-based mobile game developer Brainz, including the upcoming action strategy game World War Doh, to expand social gaming portfolio, the company said.
The acquisition marks Jam City's continued expansion into real-time strategy game development and provides a platform for continued innovation in mobile entertainment.
Status: Closed
-CAMPING WORLD EXPANDS IN ARKANSAS MARKET WITH ACQUISITION OF RIVER CITY RECREATION WORLD
Illinois, US-based RV-centric retail network Camping World Holdings, Inc. (NYSE: CWH) has agreed to acquire Arkansas, US-based River City Recreation World to expand its presence in Arkansas, the company said.
Camping World Holdings CEO Marcus Lemonis said the goal with this acquisition is to add more quality manufacturers and brands, increase presence in the market and grow the workforce. The acquisition of River City Recreation World is in line with Camping World's future growth plans and the company expects to soon announce several additional markets of expansion throughout the country in 2018.
Status: Agreed
-WAYPOINT ACQUIRES MISSISSIPPI, KANSAS STUDENT HOUSING PROPERTIES
Florida, US-based REIT Waypoint Residential has acquired two student housing properties, including Alabama, US-based The Social at Auburn and Kansas, US-based Rockland West, the company said.
The Social at Auburn is an 844-bed, purpose-built student housing property serving Auburn University. Rockland West is a purpose-built student housing property with 500 beds that serves the University of Kansas. These transactions cap an active year in the sector in which the company added nine properties and 4,788 beds to its portfolio in four separate transactions.
Status: Closed
-DELOS CAPITAL ACQUIRES INDIA-BASED SAGE METALS TO STRENGTHEN PRESENCE IN NORTH AMERICA
New York, US-based private equity firm Delos Capital has acquired India-based specialty metal products manufacturer Sage Metals Ltd. to strengthen presence in North America, the company said.
Delos acquired Sage from its founders, Vinod K. Agarwal and S.P. Agarwal, and partnered with one of the owners, R. Krishnan, and a new US-based management team in the transaction. Delos raised acquisition financing from Olympus Capital Asia Credit and SSG Capital Management. Additional terms of the transaction were not disclosed.
Status: Closed
-HUNTSMAN ACQUIRES SPRAY FOAM INSULATIONS SYSTEMS MANUFACTURER DEMILEC FOR USD 350M
Texas, US-based specialty chemical manufacturer Huntsman Corp. (NYSE: HUN) has acquired spray polyurethane foam insulations systems manufacturer Demilec from an affiliate of Sun Capital Partners, Inc. for USD 350m, the company said.
Under terms of the agreement, Huntsman will pay the USD 350m in an all-cash transaction, funded from available liquidity. Based upon full year 2018 EBITDA estimates, this represents a purchase price multiple of approximately 11.5x or 7.5x, pro forma for synergies.
Status: Closed
-SEASPAN ACQUIRES GREATER CHINA INTERMODAL IN A DEAL VALUED AT USD 1.6BN
Hong Kong-based containership management and ownership company Seaspan Corp. (NYSE: SSW) has become 100% owner of Greater China Intermodal Investments LLC (GCI) through the acquisition of the remaining 89% stake it did not own from...
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