Core Viewpoint - BrewDog has initiated a sale process by appointing AlixPartners to explore interest from potential buyers, with a short deadline for indicative offers set [1] Group 1: Company Background - BrewDog was founded in 2007 by James Watt and Martin Dickie, who are still shareholders despite stepping down from their executive roles [2] - TSG Consumer Partners, a US private-equity firm, owns 21% of BrewDog after investing in 2017 [2] Group 2: Recent Developments - BrewDog announced the closure of its spirits unit, BrewDog Distilling Co., which was established in 2016, ending production of several brands while continuing with its RTD brand [5] - The company has also made job cuts, citing a challenging market environment [5] Group 3: Financial Performance - In 2024, BrewDog reported a loss of £34.1 million ($46.6 million), a decrease from a loss of £62.7 million the previous year [6] - The operating loss for the group was £19.6 million, compared to £45.6 million in 2023 [6] - Net revenue for BrewDog was £280.2 million, slightly down from £280.9 million the year before, with nearly £254 million generated from the UK market [6] Group 4: Strategic Focus - BrewDog's spokesperson indicated that the company is regularly reviewing its options to ensure long-term strength and sustainability amid challenging economic conditions [3] - The appointment of AlixPartners is part of a structured process aimed at evaluating future investment opportunities, emphasizing a disciplined approach to strengthen the BrewDog brand [4]

Core Viewpoint - Edgewell Personal Care Company has completed the sale of its feminine care business to Essity for $340 million, aiming to strengthen its balance sheet and invest in core business growth [1] Group 1: Transaction Details - The sale was finalized for a total of $340 million [1] - Edgewell plans to use the net proceeds from the sale, after taxes and transaction costs, primarily to pay down the balance of its U.S. revolving credit facility [1] - A Transition Services Agreement has been established between Edgewell and Essity to provide support services for at least one year post-transaction [1] Group 2: Strategic Intent - The company intends to work closely with Essity to ensure a smooth transition for employees, customers, and consumers of the Feminine Care business [1] - The focus remains on long-term growth investments in Edgewell's core businesses following the sale [1]

Core Insights - The article emphasizes the importance of preparing a business for sale to attract qualified buyers and maximize its value through clear documentation, operational stability, and financial soundness [5][7][31] Financial Preparation - Adjusted financial statements, prepared with the help of a CPA, remove non-recurring expenses and personal costs, providing a clearer picture of the company's earning power [2] - Sellers should provide at least three years of financial statements, including income statements, balance sheets, and cash flow reports, to facilitate buyer evaluation [4] Operational Readiness - Businesses should have documented standard operating procedures (SOPs) and trained personnel to ensure smooth operations without heavy reliance on the owner [13] - Clean and consistent records demonstrate operational discipline, making it easier for buyers to secure financing and speeding up the due diligence phase [3] Value Enhancement Strategies - Strategic improvements in the years leading up to a sale, such as increasing gross margins and diversifying income sources, can significantly enhance business value [9] - A well-prepared business that showcases stability and growth potential is more attractive to buyers [8] Marketing and Buyer Engagement - A confidential information memorandum (CIM) outlines the company's performance and strengths, helping to market the business effectively to potential buyers [10] - Targeted outreach to strategic acquirers, private equity firms, and qualified individual buyers is essential for finding the right buyer [11][22] Buyer Qualification - Each potential buyer undergoes a thorough qualification process to assess their financial capacity and acquisition experience, ensuring serious buyers are identified [23] - A business broker plays a crucial role in maintaining confidentiality and screening inquiries to present suitable prospects [24] Negotiation and Deal Structuring - Negotiations begin when a qualified buyer submits an offer, which should be reviewed carefully to respond strategically [25] - Deal structure can vary, including cash-at-closing, seller financing, or earnout arrangements, to meet the needs of both parties [32] Due Diligence and Closing - A smooth due diligence process builds trust and protects value, confirming the business's legal standing and financial performance [30] - Finalizing the purchase agreement involves legal teams refining terms and ensuring all contingencies are resolved before closing [33]

Core Insights - Coca-Cola and TDR Capital are in urgent discussions regarding the potential disruption of the sale of Costa Coffee due to pricing disagreements [1] - Coca-Cola had aimed for proceeds of approximately $2.5 billion from the sale, having acquired Costa for around $5 billion in 2018 [2] - Costa Coffee reported an annual loss of £13.8 million on revenues of £1.2 billion in 2023, indicating financial struggles amid stiff competition [2] Company and Industry Summary - TDR Capital, co-owner of EG Group, is interested in acquiring Costa's UK and international business, excluding operations in China [3] - Other potential bidders included Bain Capital and Centurium Capital, while Apollo and KKR have withdrawn from the bidding process [3] - The potential collapse of the sale could result in Coca-Cola missing an opportunity to recover a significant portion of its investment in Costa, while Costa may continue to face challenges in a competitive market without the expected capital infusion [4]

Core Insights - Roark Capital is considering the sale of bakery chain Nothing Bundt Cakes, with a potential valuation exceeding $2 billion [1] - The sale process is expected to begin in early 2026, with North Point and Bank of America engaged as advisers [1] - Nothing Bundt Cakes has expanded from 390 locations at the time of Roark's acquisition in 2021 to 700 outlets across over 40 US states and Canada [2] Financial Performance - The business is projected to generate $120 million in EBITDA by 2026 [3] - Roark Capital manages assets totaling $41 billion and has been active in the franchised restaurant sector, including notable acquisitions like Dave's Hot Chicken for $1 billion in 2025 and Subway in 2024 [3] Company Background - Nothing Bundt Cakes was established in 1997 and specializes in hand-crafted bundt cakes available in various flavors and sizes [2] - Roark Capital acquired Nothing Bundt Cakes in 2021 from Levine Leichtman Capital Partners [2] Market Activity - Roark Capital is also exploring a potential IPO for Inspire Brands, which owns several fast-food chains including Dunkin', Arby's, and Jimmy John's [4]

Core Points - FIFCO's shareholders have approved the sale of its beverage, food, and retail operations to Heineken, covering multiple Central American countries and Mexico [1][2] - The transaction is expected to be completed in the first half of 2026, pending regulatory approvals [2] Group 1 - FIFCO's beverage, food, and retail operations in Costa Rica, Guatemala, El Salvador, Honduras, and Mexico are included in the sale to Heineken [1] - The sale also encompasses FIFCO's stakes in beverage businesses in Nicaragua and Panama [1] - The binding agreement for the sale was announced on 22 September 2025 [2] Group 2 - The completion of the transaction is subject to customary regulatory approvals [2] - Further announcements regarding the transaction will be made as necessary [2]

Core Viewpoint - The oil and gas producer is reportedly in discussions to sell its OxyChem business for a minimum of $10 billion [1] Group 1 - The potential sale of the OxyChem business indicates a strategic move by the company to focus on its core operations in the oil and gas sector [1] - The expected valuation of at least $10 billion highlights the significant worth of the OxyChem division within the company's overall portfolio [1]

Group 1 - GOJO Industries, the maker of Purell hand sanitizer, is exploring options for a full sale or minority stake, with a potential valuation close to $2 billion [1][2] - The company is in discussions with private equity firms and is working with investment bank Harris Williams, although these talks are at an early stage and no deal is guaranteed [2][3] - GOJO's spokesperson highlighted the company's strong performance and opportunities to expand the Purell brand and market solutions [2] Group 2 - The Lippman-Kanfer family, which owns GOJO, attempted to sell the company in 2023 but did not receive bids that met their price expectations, with Georgia-Pacific being the closest suitor [3] - Instead of pursuing a sale, GOJO took on $500 million in new debt from Silver Point Finance to repay existing debt and fund operations [4] - Sales of hand sanitizer surged during the COVID-19 pandemic, but the company's financials have since normalized [4] Group 3 - GOJO was founded in 1946 and is known for inventing the first one-step, rinse-off hand cleaner, as well as Purell, which was launched in the consumer market in 1997 [5] - The company sells a range of products, including soaps, wipes, and surface disinfecting sprays, primarily through business-to-business channels, serving schools, hospitals, and stadiums globally [6]

Core Viewpoint - Verkkokauppa.com Oyj has successfully sold its consumer financing business to Walley for approximately EUR 34 million, which is expected to enhance the company's balance sheet structure without significantly impacting its overall results for 2025 [1][2]. Group 1: Transaction Details - The sale agreement was signed on June 2, 2025, and the preliminary price for the transaction is about EUR 34 million, with the final purchase price to be determined through post-closing reconciliation [1]. - The transaction will generate a non-recurring gain of approximately EUR 3 million, which will be reported in the Q3/2025 interim report as an item affecting comparability [2]. Group 2: Company Overview - Verkkokauppa.com is an e-commerce pioneer in Finland, known for its fast deliveries and customer-centric approach, serving over 1.7 million customers [4]. - The company reported a revenue of EUR 468 million in 2024 and employs around 600 people, being listed on the Nasdaq Helsinki stock exchange [5].

Group 1 - Admiral Group plc has agreed to sell its U.S. motor insurance business, including Elephant Insurance Company, to J.C. Flowers & Co for an undisclosed cash consideration, expected to close in Q4 2025 [1] - Elephant Insurance, headquartered in Richmond, Virginia, provides simple and affordable car insurance to U.S. customers, with user-friendly tools for finding suitable coverage [2] - The sale is seen as a strategic move for Admiral Group to focus on growth opportunities in the UK and Mainland Europe, while ensuring the future success of Elephant Insurance under J.C. Flowers [3] Group 2 - J.C. Flowers has a strong history of investing in the insurance sector and aims to leverage its experience to help Elephant Insurance grow as a standalone entity [4] - The partnership is expected to enhance Elephant Insurance's growth strategy and add value for customers while maintaining its unique culture [4] - Admiral Group is advised by BofA Securities and Sidley Austin LLP, while J.C. Flowers is advised by Keefe, Bruyette & Woods and Debevoise & Plimpton LLP in this transaction [6] Group 3 - Admiral Group is a leading FTSE 100 Financial Services company offering various insurance products and personal lending, with a presence in multiple countries [8] - J.C. Flowers is a prominent private investment firm focused on the financial services industry, having invested over $18 billion in 67 companies across 18 countries [9]