Deals in Focus

Deals in Focus – September 1st Edition
16th September 2019 Atheneum Team
8th September 2019

Key Atheneum Experts

Director – Owens Corning
Director of Supply Chain, Finance, IT – Saint-Gobain
Sales and Marketing Manager – Armacell

Key Information

Building Materials
HQ – Germany
Operations – Global

Blackstone and Kirbi are reportedly interviewing advisors for the potential sale of Armacell – a space insulation company. Sources close to the sale report that the deal could fetch €1.5 billion. Potential advisors have yet to be appointed.

Key Atheneum Experts

Former Global Director – D2C Technologies – Billabong
Vice President – Board Riders Inc.
Former Manager – Hurley

Key Information

Apparel
HQ – US
Operations – Global

Nike is reportedly exploring the sale of Hurley – it’s surfing related business segment. The sale comes as Hurley encompasses a small fraction of Nike’s annual revenue of $39bn. Hurley last reported a revenue of $260m in 2012 and this value has remained largely unchanged since.

Key Atheneum Experts

Former Head of Strategy & Corporate Development – StubHub
Sales Director – Ticketmaster
Director of Business Development – Vivid Seats

Key Information

Internet Company
HQ – US
Operations – Global

eBay is weighing the sale of StubHub. Previous financials indicate the business produces $5 billion in sales annualy  and $1 billion in annual gross revenue. A lower multiple sale is likely given the uncertainty that forbodes an evolving e-ticket marketplace.

Key Atheneum Experts

Former Director of Operations – Dean Foods
Former Director of Operations – Fonterra
Former Vice President Sales – Dean Foods

Key Information

Dairy Product
HQ – US
Operations – Global

Dean Foods – the top US milk processor – has recently appointed a new CEO in an attempt to recover a 77% YTD loss in it’s market cap. With mounting losses and a decreasing revenue a sale is suggested to be likely for this struggling dairy company. The sale would likely be markted off a recently reported ~100m in revenue.

Key Atheneum Experts

Former CEO – Crate and Barrel
Marketing Manager – Williams Sonoma
Former Director – Bed Bath & Beyond

Key Information

Retail
HQ – US
Operations – Global

Bed Bath & Beyond has appointed Goldman Sachs to divest several of it’s core business segments. The divestatures include it’s ‘Cost Plus World Market Division’ (250m) and ‘PersonalizationMall'(250m-350m). The entirety of $BBBY has also received interest from PE firms.

To learn more please email: adam.jenkins@atheneum-partners.com