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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (2751)	7/23/2012 12:03:08 PM
From: richardred	Respond to of 7259

Joh. A. Benckiser to Buy Peet's Coffee for About $1 Billion By Celeste Perri and Leslie Patton \| Bloomberg – 1 hour 8 minutes ago Joh. A. Benckiser agreed to buy Peet's Coffee & Tea Inc. (PEET), giving the closely held German holding company about 190 specialty cafes in the U.S. and access to an expanding grocery business. The offer of $73.50 per share is 29 percent more than Peet's closing price of $57.16 on July 20. The transaction is expected to be completed in about three months, Ludwigshafen- based Joh. A. Benckiser and Peet's said today in a statement. Peet's rose to $73.65 in U.S. trading. While profit at Emeryville, California-based Peet's has been hurt recently by surging coffee prices and increased competition, sales in its grocery business have risen. The company began selling Godiva brand coffees in grocery and drug stores in 2009 to establish a bigger retail presence, especially in flavored coffees. The purchase is the second coffee-related acquisition by Joh. A. Benckiser in less than a month. The group disclosed a 12.2 percent stake in D.E Master Blenders 1753 NV (DE) on July 3 and has said it might increase its stake in the Dutch maker of Pickwick tea and Senseo single-serve coffee pads, though it planned to remain a minority investor. "At JAB, we are committed to owning and investing in companies with strong, premier-quality brands and great people whose values we share," Bart Becht, chairman of JAB, said in today's statement. Coty Chairman Becht became chairman of Coty Inc. (COTY) last year after stepping down as chief executive officer of Reckitt Benckiser Group Plc. Coty, in which JAB also has a majority stake, withdrew its offer for Avon Products Inc. after the world's largest door-to-door cosmetics seller refused to negotiate and now plans to sell shares to the public in an initial public offering. JAB is paying about 21 times earnings before interest, taxes, depreciation and amortization for Peet's, according to data compiled by Bloomberg. That compares with the median of about 13 times Ebitda in a survey of five similar deals during the past decade. The largest takeover in the coffee industry in that period was JM Smucker Co.'s purchase of the Folgers coffee brand from Procter & Gamble Co. Peet's traded as high as $76.82 as recently as April 30. Peet's was founded by Alfred Peet in Berkeley, California in 1966, five years before Starbucks was started in Seattle. Peet mentored Starbucks' co-founder Gerald Baldwin, who later bought Peet's and sold the Starbucks chain. Baldwin was Peet's chief executive officer for about 23 years and serves as a board member. Single-Serve Coffee Peet's revenue increased 11 percent to $371.9 million last year, while profit rose about 1.6 percent to $17.8 million, according to a company filing. Peet's has said it may enter the market for brew-your-own single-serve coffee. Dunkin' Brands Group Inc. and Starbucks Corp. (SBUX) have deals with Green Mountain Coffee Roasters Inc. to sell K-Cups for Green Mountain's Keurig brewer. Citigroup Inc. acted as the exclusive financial adviser to Peet's and provided a fairness opinion to the board, while Cooley LLP served as legal adviser. Skadden Arps Slate Meagher & Flom LLP provided legal counsel to JAB on the transaction, while Morgan Stanley and BDT & Company served as financial advisers. finance.yahoo.com

To: richardred who wrote (2751)	9/20/2014 8:33:52 AM
From: richardred	Read Replies (1) \| Respond to of 7259

My daughters favorite beer PBR, and around here a favorite among new legal age drinkers. I don't see how this deal can go through the FTC successfully. This with the Obama's administration ban on Russian trade. Pabst Brewing to be sold to Russian company Bruce Horovitz, USA TODAY 5:50 p.m. EDT September 19, 2014 (Photo: Rene Alston, USA TODAY) 12317 CONNECT 410 TWEET 8 LINKEDIN 38 COMMENTEMAILMORE Pabst Blue Ribbon — a sub-premium beer brand that embraced savvy marketing to stay relevant in a craft beer age — has been sold, along with its parent, Pabst Brewing Co., to Russian company Oasis Beverages. The companies declined to disclose the sale price, but beverage industry analysts estimate the sale at nearly $750 million — a figure nearly three times the estimated $250 million that C. Dean Metropoulos & Co. paid for it in 2010. Oasis Beverages' partner in the purchase is TSC Consumer Partners, a consumer products company that will take a minority stake Pabst. Besides the familiar Pabst Blue Ribbon label, Pabst Brewing Co. makes Colt 45, Old Milwaukee and Schlitz. It also makes regional brews such as Lone Star, Rainier and Old Style. The sales comes at a time the U.S. and the global beer industries both are dynamically evolving. In recent years, foreign beer makers have been gobbling up the big U.S. beer brands. At the same time, craft beers have become the industry's fastest-growing sector. Craft beer in the U.S. has 7.8% market share, up from about 4.9% in 2010, reports All About Beer Magazine, the nation's oldest beer consumer magazine. Even in that environment, Pabst — a lower-priced brand that is anything but craft — has still managed to ratchet-up its popularity with the trend-setting, Millennial beer drinker. "Pabst very successfully targeted hipsters looking for alternative brand choices," says Chris Rice, president and publisher of All About Beer Magazine. "There's a lot of crossover between the Pabst brand and craft beer drinkers." Never mind that few other sub-premium brands have had much luck with Millennials. Pabst Brewing has an iconic past and many baby boomers still recall the familiar, shouted slogan from its 1950s-era commercials: "What'll You Have? Pabst Blue Ribbon." More recently, Pabst Brewing has embraced pop culture. In 2011, comedian Will Ferrell showed up in its Old Milwaukee beer ads, and in 2010, hip-hop icon Snoop Dogg starred in a Blast by Colt 45 commercial. Pabst was acquired in 2010 by C. Dean Metropoulos & Co., which is known for investing in food brands, including Twinkie maker Hostess. Pabst Brewing traces its roots back to 1844 in Milwaukee. Pabst Blue Ribbon in particular has also grown in popularity among people in their 20s and 30s in part for its blue-collar and retro appeal, as well as for its cheap price. Still, Pabst accounts for less than 3% of the U.S. beer market, said Eric Shepard, executive editor of Beer Marketer's Insights, an industry tracker. He also noted that many of the most popular beers in the U.S. are already owned by foreign companies. Anheuser-Busch InBev, which makes Budweiser and Bud Light, is based in Belgium. In a statement, Oasis Chairman Eugene Kashper called Pabst Blue Ribbon the "quintessential American brand — it represents individualism, egalitarianism and freedom of expression — all the things that make this country great." Kashper will serve as CEO of Pabst Brewing, which will keep its headquarters in Los Angeles. Contributing: Associated Press usatoday.com