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mergers and acquisitions

May 31, 2018

French industrialist Serge Dassault dies, JAB Holding adds Pret to portfolio, and Jack Daniels maker Brown-Forman appoints second successive non-family CEO

French icon Serge Dassault dies aged 93

The controversial French industrialist and politician Serge Dassault, chairman of the eponymous aviation and software giant Dassault Group, has died aged 93.

The nonagenarian, who took over the business after his father’s death in 1986, is understood to have died at the headquarters of Dassault Aviation, according to French media reports.

February 2, 2018

JAB Holdings has cooled its coffee spending spree, striking a deal to buy its first cold drinks company, Dr Pepper Snapple, in a move which has bemused market commentators.

JAB Holdings has cooled its coffee spending spree, striking a deal to buy its first cold drinks company, Dr Pepper Snapple, in a move which has bemused market commentators.

Luxembourg-based JAB, which mainly controls the wealth of Germany’s Reimann family, has announced it will buy the US soft drink maker for $18.7 billion, and merge it with coffee pod producer Keurig Green Mountain, which JAB bought in 2015.

January 26, 2018

Bacardi buys Patron for $5.1 billion, Lidl slows US expansion, and C&A eyes China

Bacardi buys Patrón for $5.1 billion

Family-owned Bacardi is tapping into the growing popularity of tequila, buying premium brand Patrón.

The companies said in a statement tequila is one of the fastest-growing categories in the spirits industry, with “Patrón being the clear market leader in the super-premium segment”.

December 14, 2017

Essilor-Luxottica to hire chief executive, losses widen for British bag maker, and £100m sustainability fund launches

Essilor-Luxottica to hire chief executive

A position heading the company created by the €50 billion ($59 billion) merger of Luxottica and Essilor is about open up, with the firms acknowledging they will look for a new chief executive for the eyewear giant.

Hubert Sagnières, chairman and chief executive of Essilor, told the Financial Times he was “too old” for the new gig and confirmed the newly-created company would hire a new chief.

November 30, 2017

CMA completes father-son transition, Koch brothers in controversial takeover, and Bharti family donate 10% of wealth

CMA completes father-son transition

Rodolphe Saadé has taken over as chairman of container shipping firm CMA CGM, the business which his father founded and which made his family billionaires.

Lebanese-French businessman Jacques Saadé founded CMA container shipping in Marseille in 1978, later acquiring logistics company CGM. The Saadé family, worth an estimated $1.86 billion according to Forbes, own 75% of CMA CGM.

August 11, 2017

Billionaire faces down tiny fly; Family offices looking to brands, Spanish assets; and Costco founder Jeff Brotman dies suddenly

Billionaire faces down tiny fly

Australia’s richest woman is having her ambitions to export cattle to China foiled by a tiny fly.

Mining billionaire Gina Reinhart wants to ship 300,000 live cattle to China each year, to feed the country’s burgeoning middle class.

July 6, 2017

Rothschild boast “record year”; Espresso House acquires Balzac Coffee; and Pinault family buy into luxury fashion house.

Rothschild boast “record year”

Advising the Arnault family on its €12 billion ($13.6 billion) Christian Dior acquisition was among the headline deals that led to a 15% jump in global merger and acquisition (M&A) revenue at sixth-generation Rothschild Group.

The significant rise in global M&A revenue to €875m, helped its global advisory unit achieve record performance for the second successive year and powered the 200-year-old family business to annual revenues of €1.77 billion – an 11% increase on 2016.

June 12, 2014

US-based First Citizens Bank, led by the Holding family since 1964, has announced it will become the country’s largest family-owned bank when it merges with another independent bank, which it also owns a controlling stake in, this November.

US-based First Citizens Bank, led by the Holding family since 1964, has announced it will become the country’s largest family-owned bank when it merges with another independent bank, which it also owns a controlling stake in, this November.  

The deal, which sees the North Carolina bank join hands with the similarly named First Citizens Bank and Trust of South Carolina, is worth between $636.9 million (€471 million) and $676.4 million.

April 2, 2014

Italian dairy and food corporation Parmalat has expanded its presence in Australasia with the acquisition of a Western Australian family dairy products and fruit juice business.

Italian dairy and food corporation Parmalat has expanded its presence in Australasia with the acquisition of a Western Australian family dairy products and fruit juice business.

Parmalat, owned by France's Besnier family via their dairy giant Lactalis, bought 28-year-old Harvey Fresh in a €79 million deal this week.

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