December 11, 2013 |
Lucky Brand Jeans is coming home again. Los Angeles private-equity firm Leonard Green & Partners has agreed to pay $225 million to acquire Lucky from New York fashion company Fifth & Pacific Cos. The acquisition means that Lucky, founded in Vernon in 1990 and moved last year to a 1940s Art Deco building in downtown Los Angeles, will be locally owned once again. Denim veterans and Lucky co-founders Gene Montesano and Barry Perlman used clever marketing - including the "Lucky You" label stitched into the fly - to create one of the country's most popular mid-level denim jeans.
November 19, 2013 |
Carpinteria-based CKE Inc., known for the raunchy commercials and juicy burgers from its Carl's Jr. chain, will be sold to the owner of decidedly G-rated brands Cinnabon and Auntie Anne's. CKE, currently controlled by affiliates of New York private equity firm Apollo Global Management, will change hands to an affiliate of Roark Capital Group, a private equity firm in Atlanta. Roark's portfolio is stuffed with popular food brands such as Wingstop, Corner Bakery Cafe, Seattle's Best Coffee and Arby's.
November 16, 2013 |
WASHINGTON -- Former Secretary of the Treasury Timothy F. Geithner is becoming a financial industry executive, taking a high-level job with the private-equity firm Warburg Pincus, the firm announced Saturday. Geithner, who was a major player in the federal government's response to the 2008 financial crisis and the Obama administration's formulation of economic policy, will become a managing director of the company and a member of its executive management group, Warburg Pincus said.
September 24, 2013 |
Popular stationery company Paper Source has changed hands, from Southern California private equity firm Brentwood Associates to investment management firm Investcorp. The financial terms of the deal were not disclosed. The Chicago-based chain, which sells paper goods, gifts and crafting supplies across 23 states and the District of Columbia, was founded in 1983. Brentwood contributed capital in 2007. Since then, Paper Source's store count has increased to 73 units from 21. Now, there are nearly 20 stores in California alone.
May 25, 2013 |
Yahoo Inc., fresh off its $1.1-billion deal this week to acquire personal blogging site Tumblr, got in line Friday to pick up video streaming site Hulu. The late bid by the cash-rich Internet portal giant came on the same day that the Santa Monica company received bids from private equity firms KKR & Co. and Silver Lake Management, said people familiar with the matter. For its bid, Silver Lake teamed up with powerful Hollywood talent agency William Morris Endeavor, said the people, who did not want to be named because the bidding process was confidential.
March 12, 2013 |
Twinkies, the cult favorite snack brand orphaned by its liquidating parent company, Hostess Brands Inc., may have a new home. The popular product, along with Hostess brands such as CupCakes, Ho Hos and Ding Dongs, is being sold to private equity firms Apollo Global Management and C. Dean Metropoulos & Co. for $410 million. The companies submitted the only qualified bid by the deadline set by the Bankruptcy Court overseeing Hostess' case. The purchase, which includes five bakeries and certain equipment, is headed to court March 19 for final approval.