Senate votes to give FDA more power with passage of food safety bill
Senate votes to give FDA more power with passage of food safety bill
Coty Inc., one of the world's largest fragrance companies, is close to an agreement to acquire nail-polish maker OPI Products Inc. for about $1 billion, people familiar with the matter said.
Talks were continuing Sunday, and a deal could be announced as early as Monday, these people said. But the negotiations could still fall apart, they added.
Closely held Coty has been on the acquisition trail recently, announcing last week that it had agreed to purchase beauty company Philosophy from private-equity firm Carlyle Group. Terms of the purchase weren't disclosed, but people familiar with the matter valued the deal at around $1 billion.
Two weeks ago, Coty, which has annual sales of $3.6 billion, said it was buying Dr. Scheller Cosmetics AG of Germany.
Though the beauty industry suffered sluggish sales during the recession, demand for nail polish has surged in recent years as women embraced it as an inexpensive way to accessorize their apparel. In 2009, U.S. sales of nail polish rose 11% from the previous year to $462.9 million, according to market-research firm Euromonitor International Inc.
OPI was founded in 1981 by George Schaeffer, who is president and chief executive. The company began as a dental-supply business. Based in North Hollywood, Calif., OPI now sells nail polish and other nail-related products in salons, using fanciful names for its colors like "Overexposed in South Beach" and "I'm Not Really a Waitress." Its products also are sold in retail stores.
OPI, which is considered a premium brand, held about 6% of the U.S. nail-polish market last year, according to Euromonitor. Coty, which owns the market-leading Sally Hansen brand and the NYC New York Color line, held 48%.
New York-based Coty makes fragrances for brands including Calvin Klein, Vera Wang and Stetson, and calls itself the world's largest fragrance company.
About Hunt Executive Search, Inc. Hunt Executive Search, Inc. is the preeminent supplier of "A" Player human capital to the Consumer Products, Specialty Chemicals and Life Sciences industries. Our clients include large publicly traded multi-nationals, mid-cap, family, and/or private equity-owned companies, wholesalers, and retailers. Our individual industry based practices include consumer goods companies in food and beverage, personal care, household products, over-the-counter pharmaceutical, consumer durables, and packaging services. Our specialty chemicals practice includes companies in coatings, plastics, industrials and adhesives. Our life sciences practice serves companies in bio-technology, medical device, generic, and brand name pharmaceuticals. Through retained executive search services for these clients we have placed executives in top-level positions at C- Suite General Management, Sales, Marketing, Product Supply, Manufacturing, R&D, Finance and Human Resources. Website: http://www.huntsearch.com
Del Monte Foods Co. said Thursday it agreed to a $4 billion takeover by an investor group led by Kohlberg Kravis Roberts & Co. in what would be one of the year's largest private-equity buyouts.
The company said it can solicit alternative proposals through Jan. 8. If no alternative bids are made, the company expects to close the sale to the investor group by the end of March.
Del Monte reported revenue of $3.74 billion in fiscal 2010. Its high-margin pet food business has been resilient through the recession, while more stay-at-home eating has helped sales of its Contadina and College Inn vegetable and tomato brands.
While sales of its Kibbles 'n Bits, Meow Mix and Milk-Bone pet food products have been robust amid intensifying competition, the company said in September that its vegetable business was disappointing. It cut its fiscal 2011 sales forecast to a gain of between 1% and 3% over 2010. It had previously projected a sales gain of between 2% and 4%.
The investors' $19 a share offer is 40% above the average closing price in the three months prior to Nov. 18, when speculation of a takeover first emerged. The stock closed Wednesday at $17.99, up 5% on the day; U.S. markets were closed Thursday for the Thanksgiving holiday.
On Monday, rating agency Standard & Poor's placed the company on its watch list for possible downgrade, saying a takeover could add to its debt.
Del Monte has been battling intense competition from branded and private-label rivals, a common factor across the industry, but executives have remained optimistic about the second half of its fiscal year.
"It is not a positive environment for retailers nor for manufacturers and everybody is working towards the more rational model that most of our businesses have always experienced," said Del Monte Chief Executive Richard G. Wolford in September.
The company said it would maintain offices in the San Francisco Bay Area and Pittsburgh.
Food makers had been a favorite arena for private-equity firms from 2005 to 2008 when firms often outbid rivals. The proposed Del Monte deal highlights the re-emergence of funding for buyouts.
For KKR, it is the second foray into the pet sector this year. In January, it agreed to pay an estimated £955 million ($1.5 billion) to acquire Pets at Home, a U.K.-based specialty retailer then owned by private equity firm Bridgepoint Capital Ltd.
The investor group said it has lined up financing for the Del Monte acquisition from Bank of America Merrill Lynch, Barclays Capital Inc., JPMorgan Chase, Morgan Stanley and KKR Capital Markets LLC.
About Hunt Executive Search, Inc.
Hunt Executive Search, Inc. is the preeminent supplier of "A" Player human capital to the Consumer Products, Specialty Chemicals and Life Sciences industries.
Our clients include large publicly traded multi-nationals, mid-cap, family, and/or private equity-owned companies, wholesalers, and retailers. Our individual industry based practices include consumer goods companies in food and beverage, personal care, household products, over-the-counter pharmaceutical, consumer durables, and packaging services. Our specialty chemicals practice includes companies in coatings, plastics, industrials and adhesives. Our life sciences practice serves companies in bio-technology, medical device, generic, and brand name pharmaceuticals. Through retained executive search services for these clients we have placed executives in top-level positions at C- Suite General Management, Sales, Marketing, Product Supply, Manufacturing, R&D, Finance and Human Resources.
Website: http://www.huntsearch.com
Danone, the world’s biggest yogurt maker, said it agreed to buy YoCream International Inc., a U.S. producer of frozen yogurt, for $103 million, adding distribution networks for restaurants and convenience stores.
Danone is offering about $39.82 in cash for each share, YoCream said in a statement. That’s 39 percent higher than the Portland, Oregon-based company’s most recent closing price. Danone expects to conclude the sale this year, the Paris-based company said on its website today.
“Danone is shoring up its presence in dairy products in a high value-added segment -- U.S. distribution networks outside the home,” Francis Pretre, an analyst at CM-CIC Securitie, wrote in a note today. He has a “hold” rating on the stock.
The acquisition follows Danone’s June agreement to purchase a controlling stake in Russian dairy-product maker OAO Unimilk. Danone will invest 120 million euros ($160 million) in Unimilk and contribute assets to the new business as part of the agreement.
The yogurt market is consolidating as PAI Partners is trying to find a buyer for its 50 percent stake in Yoplait, the world’s second-largest yogurt brand. A deal could value Yoplait at about 1.2 billion euros, people involved in the talks said in July.
Shareholder Support
YoCream will have 2010 sales of about $58 million, Danone said. The Hanna family set up International Yogurt Co. in 1976, and the company later changed its name to YoCream, according to the company’s website.
YoCream said shareholders owning about 77 percent of the company’s stock plan to vote in favor of the acquisition. John Hanna, who formed the company with his brothers Dave and Jim, will remain chief executive officer of the company.
About Hunt Executive Search, Inc.
Hunt Executive Search, Inc. is the preeminent supplier of "A" Player human capital to the Consumer Products, Specialty Chemicals and Life Sciences industries.
Our clients include large publicly traded multi-nationals, mid-cap, family, and/or private equity-owned companies, wholesalers, and retailers. Our individual industry based practices include consumer goods companies in food and beverage, personal care, household products, over-the-counter pharmaceutical, consumer durables, and packaging services. Our specialty chemicals practice includes companies in coatings, plastics, industrials and adhesives. Our life sciences practice serves companies in bio-technology, medical device, generic, and brand name pharmaceuticals. Through retained executive search services for these clients we have placed executives in top-level positions at C- Suite General Management, Sales, Marketing, Product Supply, Manufacturing, R&D, Finance and Human Resources.
Website: http://www.huntsearch.com
Coty Inc. announced that it agreed to purchase beauty company Philosophy from private-equity firm Carlyle Group.
Coty said in a statement that the transaction, subject to regulatory approvals, is expected to close in December 2010. Terms of the purchase weren't disclosed. But people familiar with the matter valued the deal at around $1 billion.
The acquisition will give the well-known fragrance maker a major foothold in skin care, where Philosophy, popular with women across a wide range of ages, is best known for its lotions, bubble bath and facial products.
Philosophy, which was founded in 1996 by entrepreneur Cristina Carlino, drew a loyal following with its rich fragrances and whimsical poems that adorn its bottles and jars.
Philosophy is sold in specialty chains and department stores and the QVC home-shopping network. Philosophy's revenue this year is expected to be more than $200 million according to a person familiar with the matter.
Coty, with annual sales of $3.6 billion, has been an active acquirer of beauty brands lately, buying German cosmetics firm Dr. Scheller Cosmetics AG about a week ago. Coty also is the leading contender to buy nail-polish maker OPI Products Inc., according to people familiar with the deal.
Closely held Coty, based in New York, makes fragrances for brands including Calvin Klein, Vera Wang and Stetson and calls itself the world's largest fragrance company.
Sales of fragrances have slowed in recent years and were particularly hit during the recession as cash-strapped shoppers opted to replenish their makeup and skin-care products instead of splurging on new perfumes.
Coty has been determined to diversify its business to other beauty categories, mostly through acquisitions. "We want three pillars: fragrance, color cosmetics and skin care," said Coty CEO Bernd Beetz. "This is the way we are building up our business."
The deal marks one of the biggest in Coty's 106-year history. In 2007, the firm purchased DLI Holding for about $800 million, which included top-selling nail polish brand Sally Hansen and cosmetics line NYC New York Color.
Carlyle has expanded Philosophy's distribution since buying it in 2007, including ramping up sales online, specialty stores and department stores.
Coty, which garners most of its sales in Europe, has broad aspirations for the brand. "We are eager to expand Philosophy globally," said Mr. Beetz, noting Philosophy is sold almost entirely in the U.S. Mr. Beetz is also eager to capitalize on Philosophy's strong sales on QVC.
The Philosophy line easily lends itself to on-air storytelling, a crucial factor in snagging viewers and, ultimately, buyers. Most of Philosophy's products come in bottles and jars plastered with inspiring phrases often penned by Ms. Carlino, the founder. A moisturizer dubbed "Hope in a Jar," includes the phrase "Where there is hope there can be faith. Where there is faith miracles can occur."
Ms. Carlino, who currently serves as a brand spokeswoman on QVC but isn't involved in day-to-day operations, is expected to stay on at least through the end of her contract next year, according to a person familiar with the matter.
"We have been very successful in doing acquisitions in the past, and a key element has always been that we maintain the continuity of leadership," said Mr. Beetz. "I expect this to be the same thing," he says.
About Hunt Executive Search, Inc.
Hunt Executive Search, Inc. is the preeminent supplier of "A" Player human capital to the Consumer Products, Specialty Chemicals and Life Sciences industries.
Our clients include large publicly traded multi-nationals, mid-cap, family, and/or private equity-owned companies, wholesalers, and retailers. Our individual industry based practices include consumer goods companies in food and beverage, personal care, household products, over-the-counter pharmaceutical, consumer durables, and packaging services. Our specialty chemicals practice includes companies in coatings, plastics, industrials and adhesives. Our life sciences practice serves companies in bio-technology, medical device, generic, and brand name pharmaceuticals. Through retained executive search services for these clients we have placed executives in top-level positions at C- Suite General Management, Sales, Marketing, Product Supply, Manufacturing, R&D, Finance and Human Resources.
Website: http://www.huntsearch.com
Since our inception in 1988 Hunt Executive Search has conducted it's 2,500 searches. This experience has helped us develop our boutique executive search services with a best in class global network, contacts and market mastery.
McKesson to Buy US Oncology for $2.16 billion
McKesson agreed to buy privately held US Oncology for $2.16 billion, including the assumption of $1.6 billion in debt, as the drug wholesaler and health-services company continues to expand in cancer services and distribution.
McKesson, the largest U.S. pharmaceuticals distributor by revenue, and US Oncology expect the deal to close by Dec. 31. Along with the assumed debt, the purchase price includes the acquisition of $150 million to $160 million in tax benefits, arising from certain net operating losses, that McKesson can use in the future. The companies expect substantially all of US Oncology’s debt will either be repaid or refinanced.
About Hunt Executive Search, Inc.
Hunt Executive Search, Inc. is the preeminent supplier of "A" Player human capital to the Consumer Products, Specialty Chemicals and Life Sciences industries.
Our clients include large publicly traded multi-nationals, mid-cap, family, and/or private equity-owned companies, wholesalers, and retailers. Our individual industry based practices include consumer goods companies in food and beverage, personal care, household products, over-the-counter pharmaceutical, consumer durables, and packaging services. Our specialty chemicals practice includes companies in coatings, plastics, industrials and adhesives. Our life sciences practice serves companies in bio-technology, medical device, generic, and brand name pharmaceuticals. Through retained executive search services for these clients we have placed executives in top-level positions at C- Suite General Management, Sales, Marketing, Product Supply, Manufacturing, R&D, Finance and Human Resources.
Website: http://www.huntsearch.com
Bimbo is talks to buy Sara Lee bakery unit
About Hunt Executive Search, Inc.
Hunt Executive Search, Inc. is the preeminent supplier of "A" Player human capital to the Consumer Products, Specialty Chemicals and Life Sciences industries.
Our clients include large publicly traded multi-nationals, mid-cap, family, and/or private equity-owned companies, wholesalers, and retailers. Our individual industry based practices include consumer goods companies in food and beverage, personal care, household products, over-the-counter pharmaceutical, consumer durables, and packaging services. Our specialty chemicals practice includes companies in coatings, plastics, industrials and adhesives. Our life sciences practice serves companies in bio-technology, medical device, generic, and brand name pharmaceuticals. Through retained executive search services for these clients we have placed executives in top-level positions at C- Suite General Management, Sales, Marketing, Product Supply, Manufacturing, R&D, Finance and Human Resources.
Website: http://www.huntsearch.com
Nestle Waters names Joe Wiggetman GM of Earth Brands
Joe Wiggetman has recently been promoted to general manager of Nestle Waters North America Inc.'s Earth Brands portfolio, consisting of the Re-Source and Keeper Springs brands.
In his prior role, Wiggetman was the senior manager of customer and channel development for convenience store for nearly three-and-a-half years, and part of the C-Store Leadership Team. Further, he was an integral part in helping the channel achieve a 43% share of the water category.
Re-source is natural spring water with recycling mission—a more sustainable approach to bottled water. It comes in a bottle made with 25% recycled plastic. Re-source is part of a national recycling pilot program that makes it easy (even profitable) to recycle empty bottles; 500mL and 700mL bottles made with 25% recycled plastic are sold exclusively at Whole Foods Markets.
Founded in 1999, Keeper Springs Natural Spring Water was launched by environmental lawyer and advocate Robert F. Kennedy Jr. and two friends, John Hoving and Chris Bartle, with a mission to help support, protect and restore our nation's waterways by donating 100% of profits to this cause. The brand Keeper Springs is named to honor the keepers of the Waterkeeper Alliance, which fights to protect waterways all over the world from polluters and degradation. Keeper Springs Natural Spring Water is bottled from carefully selected regional springs that are truly sustainable. Keeper Springs also supports the most comprehensive recycling legislation and has spent over a decade helping fight for better regulation, tough penalties and solutions. The Keeper Springs bottle is now made from 25% recycled PET, and will be at 50% later this year, with a goal to reach 100% sometime in 2011. Keeper Springs is available at select locations in the Northeast and Mid-Atlantic states, and soon on the West Coast.
For more than 25 years, the Hall of Fame has honored executives in the beverage industry who have demonstrated devotion, creativity and passion for the industry. Beverage World said it selected Jeffery into this group of industry "luminaries" for building the company into "one of the industry's leading champions of environmental stewardship."
Beverage World recognized Jeffery as part of the newest class of Hall of Fame inductees, which includes John Brock, chairman and CEO of Coca-Cola Enterprises; Edwin C. "Cookie" Rice, chairman and CEO of Ozarks Coca-Cola/Dr Pepper Bottling Co.; and Cliff Ritchie, president and CEO of Carolina Beverage Corp. and Cheerwine Bottling Co.
"I am honored to be recognized alongside some of the beverage industry's most innovative and passionate leaders," said Jeffery. "As the third largest nonalcoholic beverage company in the U.S., Nestle Waters is proud to be a leader in water stewardship and environmental responsibility, and we continue to look for ways to create shared value for all of our important stakeholders, from communities to employees."
Central to the leadership of Greenwich, Conn.-based Nestle Waters North America, a business of Nestle USA, is its 34-year history and single-focus on producing bottled water products.
About Hunt Executive Search, Inc. Hunt Executive Search, Inc. is the preeminent supplier of "A" Player human capital to the Consumer Products, Specialty Chemicals and Life Sciences industries. Our clients include large publicly traded multi-nationals, mid-cap, family, and/or private equity-owned companies, wholesalers, and retailers. Our individual industry based practices include consumer goods companies in food and beverage, personal care, household products, over-the-counter pharmaceutical, consumer durables, and packaging services. Our specialty chemicals practice includes companies in coatings, plastics, industrials and adhesives. Our life sciences practice serves companies in bio-technology, medical device, generic, and brand name pharmaceuticals. Through retained executive search services for these clients we have placed executives in top-level positions at C- Suite General Management, Sales, Marketing, Product Supply, Manufacturing, R&D, Finance and Human Resources. Website: http://www.huntsearch.com
ConAgra names Paul Maass President of Commercial Food Group
Maass has been president of ConAgra Mills within the company's commercial foods segment since 2007 and has a 22-year history with the company.
About Hunt Executive Search, Inc. Hunt Executive Search, Inc. is the preeminent supplier of "A" Player human capital to the Consumer Products, Specialty Chemicals and Life Sciences industries. Our clients include large publicly traded multi-nationals, mid-cap, family, and/or private equity-owned companies, wholesalers, and retailers. Our individual industry based practices include consumer goods companies in food and beverage, personal care, household products, over-the-counter pharmaceutical, consumer durables, and packaging services. Our specialty chemicals practice includes companies in coatings, plastics, industrials and adhesives. Our life sciences practice serves companies in bio-technology, medical device, generic, and brand name pharmaceuticals. Through retained executive search services for these clients we have placed executives in top-level positions at C- Suite General Management, Sales, Marketing, Product Supply, Manufacturing, R&D, Finance and Human Resources. Website: http://www.huntsearch.com
Displaying Records 91 to 100 of 602
<< Previous 1 2 3 4 5 6 7 8 9 [10] 11 12 13 14
15 16 17 18 19 20 21 22 23 24 25 26 27 28 29
30 31 32 33 34 35 36 37 38 39 40 41 42 43 44
45 46 47 48 49 50 51 52 53 54 55 56 57 58 59
60 61 Next >>
Boutique executive search services with best in class global network, contacts and market mastery.
Deeply connected and engaged personal service approach, long-term investment in client community and 25 year history of strong relations with both Multi-National leaders and Private Equity partners.