M&A

Digital media

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 …

S4 Capital’s lust for whopper growth wrenches its auditor’s nerves Read More »

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 …

Reckitt decides that infant formula isn’t digestible. Mead Johnson on the block; PE circles Read More »

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 »

© Danone

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 …

New CEO, new strategy? How can Danone fulfill its promise of One Planet, One Health, You? Read More »

Photo Rachel Cheng

Facing strong headwinds, Shiseido offloads three business 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 …

Facing strong headwinds, Shiseido offloads three business to private equity – at a significant loss. Read More »

Photo Charlotte Harrison

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 »

©Tropicana

Are sugar concerns the real reason Pepsico strips Tropicana and Naked?

In the West Governments have gone to war against sugar due to concerns about obesity and related life style diseases like diabetes. In the UK, according to the food standards agency, ‘the amount of sugar in food’ is currently the number one consumer concern, ahead of food waste, animal welfare and surprisingly (for me) the …

Are sugar concerns the real reason Pepsico strips Tropicana and Naked? Read More »

Scroll to Top