Kenvue is the new name in consumer healthcare. Flush with IPO cash will a canny M&A be its first priority?
J&J’s consumer health business – Kenvue – is big pharma’s latest spinoff
M&A
Kirin buys iconic Australian vitamin brand Blackmore’s. Will it prove a hard pill to swallow?
Can Kirin’s management successful integrate M&A?
Is there more to the spin-off of Kellogg’s US cereal business than meets the eye?
This week Kellogg revealed the new corporate names for its soon to be split snacks business – Kellanova, and the legacy North American cereal business – WK Kellogg company. Kellogg has been in a world of pain for some time. The root cause has been breakfast, simply put people aren’t spending the time on breakfast …
Is there more to the spin-off of Kellogg’s US cereal business than meets the eye? Read More »
Cash rich Nestlé’s M&A allergy bet sours. CEO comes clean; time to rewrite Rx playbook
M&A has long been part of Nestlé’s DNA, organic growth alone hasn’t made it the world’s largest food company. Rowntree chocolate (Kit Kat), Purina pet care, Gerber baby food are amongst its most famous plays. I worked in the company for 17 years in several markets – a requirement for all global executives – and …
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S4 Capital’s lust for whopper growth wrenches its auditor’s nerves
S4 Capital has all the makings of a Harvard case study. It’s a tale of a mercurial advertising scion, spurned by a business he previously founded, who in 5 years turned a shell company into a global advertising giant. It’s a tale that is still in its early chapters. S4 Capital was founded in 2018 …
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Reckitt decides that infant formula isn’t digestible. Mead Johnson on the block; PE circles
Dial back to 2017. Then Reckitt Benckiser’s CEO Rakesh Kapoor spent $16.6n acquiring Mead Johnson, the infant nutrition company. Reckitt paid a 30% premium on the stock price. At the time, the deal’s logic rested more on China than the US, Mead Johnson’s heartland. Reckitt was keen to diversify its portfolio and saw an opportunity …
Kao wants to become a global player but the big question is how?
If you live in Japan, you almost certainly know Kao 花王 It’s one of the country’s largest FMCG manufacturers marketing a plethora of brands in Cosmetics, Skin & Hair care, Health beverages, Fabric and Home care as well as a Chemicals division. The problem for Kao is that 70% of its revenues come from Japan, …
Kao wants to become a global player but the big question is how? Read More »
New CEO, new strategy? How can Danone fulfill its promise of One Planet, One Health, You?
A new CEO started work at Danone this week. Antoine de Saint-Affrique was previously at Barry Callebaut, a specialist (and hugely successful) chocolatier and before that Unilever. Danone’s share price has not shown any positive momentum this year and the previous CEO was forced out in March. There were multiple reports of a boardroom power …
Facing strong headwinds, Shiseido offloads three businesses to private equity – at a significant loss.
Shiseido is one of the oldest cosmetic companies in the world. Listed on the Tokyo stock exchange it has over 33,000 employees and sales of US$8.6b. However last year Shiseido produced a loss, a sharp contrast to the previous 4 years. The reason: higher than expected sales and general expenses. The company has always had …
Vodka burners are go; private equity takes a full swig of Stock Spirits
Last week UK-listed Stock Spirits accepted a take over from private equity’s CVC who agreed to pay a 44% premium. Over 50% of Stock Spirits business is in Poland, other key markets include Italy, Slovenia & Croatia. Its core brands are Eastern European Vodka, Vodka based liqueurs and Limoncello. The company has been under pressure …
Vodka burners are go; private equity takes a full swig of Stock Spirits Read More »