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sales of FBs

Family ownership ends at Brazilian food company

May 25, 2012

Yoki Alimentos, the Brazilian food company run by the Kitano family, is to be acquired by General Mills, bringing to an end more than 50 years of family ownership.

In a statement, American company General Mills, whose brands include Cheerios, Haagen-Dazs and Pillsbury, said it expects the transaction to close during the first half of 2013. No financial terms were disclosed.

Anderson family makes offer for Books-A-Million

May 1, 2012

Shares at publicly listed Books-A-Million jumped by more than 20% on Monday, after the family that controls it put forward a non-binding proposal to take the book retailer private.

The Anderson family, which already has a 53% stake in the business, offered $3.05 (€2.30) per share in cash for Books-A-Million – up 20% on Friday’s closing price.

Family business roundup: Morrell family sells while Coopers Brewery expands through acquisition

April 24, 2012

The family behind US oil company Downeast Energy has sold the firm, while Coopers Brewery, the Australian beer maker controlled by the eponymous family, has expanded into the American market with a big acquisition.

Owned by the Morell family, Maine-based Downeast Energy, whose operations span oil to propane and building materials, has been sold to Oklahoma’s NGL Energy Partners, according to a statement by the latter. No financial terms of the transaction were disclosed.

Food family business consolidates operations

March 5, 2012

North America is home to a large number of family businesses operating in the food sector – last year, more than 30 of CampdenFB’s top 100 family businesses in the region were either food retailers or producers. Families in the food industry are once again in the limelight, thanks to a Canadian company consolidating its operations.

Family behind oil drilling business reduces stake

March 2, 2012

The Fredriksen family, which controls deepwater drilling company Seadrill, has reduced its stake in the business, in an attempt to shore up its cash reserves to diversify the family’s other interests.

That’s according to a statement by the Bermuda-based group, which said the family, through investment vehicle Hemen Holding, has cut its stake to 23% from 28%.

Family business roundup: Guida’s Milk and Schweppe sold

February 23, 2012

Two family businesses operating in the US food industry have been sold – with the Guida family in Connecticut ending its involvement in dairy company Guida’s Milk and the Schweppe family in Illinois selling food service firm Schweppe.

Guida's Milk, which produces milk, cream and ice-cream mixes, as well as fruit juices, was sold to Dairy Farmers of America, a Kansas City-based co-operative, for an undisclosed sum.

Fung brothers buy French family business Sonia Rykiel

February 21, 2012

Fung Brands, the investment arm of Hong Kong’s billionaire brothers Victor and William Fung, has acquired a majority stake in France’s family-controlled fashion house Sonia Rykiel.

In a statement released on 20 February, Fung Brands said it has bought 80% of the Paris-based luxury business, famous for its colourful knitwear and poor boy sweaters.

Family business roundup: Sawiris and White families sell company stakes

February 13, 2012

Naguib Sawiris, who is the former chairman of Egyptian family business Orascom Telecom Holding, has sold most of his stake in the group’s mobile operations to its French partner.

Following the completion of the sale, France Telecom will own 95% of Mobinil while the Sawiris family will retain a 5% “economic interest”, according to a statement.

Food family business makes acquisition

February 7, 2012

The luxury sector is often not far from headlines – last year saw a number of acquisitions of luxury groups, with family businesses leading the way. But this year, the food industry looks to be consolidating operations, starting with an American family-owned food service distribution firm making a purchase.

Gordon Food Service, controlled by the Gordon family, has acquired fellow family-owned Perkins, in an attempt to increase market share in New England.

“Culture and values” fuel family business merger

February 1, 2012

Mergers and acquisitions of family businesses have been on an upward trend. The combination of a long-term outlook and a desire to preserve family heritage often woos companies controlled by families to look to each other for expansion and growth.