Tag Archives: Consumer brands

Advent International announces launch of Orveon, closing of agreement with Shiseido Americas

Advent International

Orveon unites iconic cosmetics brands bareMinerals, BUXOM and Laura Mercier to pave the future of the industry and change beauty for the better

BOSTON, December 7, 2021 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced the closing of a definitive agreement with Shiseido Americas Corporation (“Shiseido Americas”), a subsidiary of Shiseido Company, Limited (“Shiseido”), under which a newly formed affiliate of Advent, Orveon, has acquired three of Shiseido Americas’ iconic cosmetics brands, bareMinerals, BUXOM and Laura Mercier. The acquisition was announced on August 25, 2021 (press release available here), and closed on December 6, 2021.

The official closing marks the start of a new path forward for the acquired businesses and their employees to join the ecosystem of the newly created Orveon company, forming a standalone collective of premium and prestige beauty brands. Accelerating the growth of these brands will be paramount, homing in on their quality, innovation and authenticity. Upon closing, employees of bareMinerals, BUXOM and Laura Mercier, as well as about 350 employees in corporate support functions, moved from Shiseido to the newly formed parent company, Orveon.

Pascal Houdayer will serve as Chief Executive Officer of Orveon, or “Social Architect,” as he describes himself, bringing more than 30 years of Beauty / Cosmetics industry and management experience. Under Pascal Houdayer, Orveon’s mission will be to go more than skin deep and focus on helping people move from “looking beautiful” to “feeling great.” Recognizing the diverse range of consumers being served in the beauty and wellness market, Orveon is on a quest for a more inclusive, sustainable and united community in which deliberate action fosters fair and positive change.

“With Orveon, we are embarking on a journey to bring the world a new type of beauty company defined by solidarity, stark honesty and benevolent activism,” said Pascal Houdayer. “We intend to unite these powerhouse brands and move to an era of innovative evolution, that will break down category barriers and societal conventions to form a sustainable face care expert. I feel honored to be a part of a team creating a space in which the industry and consumers can be advocates for change for the better.”

Orveon is creating the future of the face. Visionary founders and owners of these brands have built a solid foundation of beautiful products and strong customer support. Orveon aims to bring additional innovation that both embraces these brands’ unique DNA while continuing to push towards skin health and overall wellness, enabling beauty built on a foundation of health. Further, Orveon will champion the values of bareMinerals, BUXOM and Laura Mercier and put the consumer at the center, while making measurable cultural strides toward a reimagined world of beauty and creating a genuine bond with the consumer they serve both online and offline. As a result, Orveon will work to establish a meaningful place for employees, while also fostering relationships with partners that contribute to the success of the company. Plans for development of new and innovative products, category and market expansion, and potentially acquisitions of additional brands aligned with its mission, will further demonstrate Orveon’s commitment to customers everywhere.

As a global private equity firm that believes in the power of consumer brands and equips them for innovation and growth, Advent recognized the potential in creating Orveon to lead bareMinerals, BUXOM and Laura Mercier on a path to continued success. This purchase follows Advent’s acquisition of prestige hair-care brand Olaplex in January 2020. Olaplex went public on Nasdaq in September 2021 after enhancing its direct-to-consumer capabilities, expanding internationally and building a long-term, science-based product innovation pipeline. Advent was also the majority owner of Douglas, Europe’s leading beauty retailer, from 2013 to 2015. During that time, Advent helped the company enhance its profile, expand its international presence, and transform from a diversified retail conglomerate to a specialist retailer of selective beauty products.

“We are thrilled to bring together three leaders in prestige beauty to build Orveon and are thankful toward Shiseido for being a supportive partner throughout this transaction,” said Tricia Glynn, a Managing Director at Advent. “With Pascal as CEO, we believe this collective will accelerate the growth of its individual brands, showcasing its expertise to cater to a complete face care routine across a diverse set of consumers for a modern world.”

Orveon will be headquartered in New York City, with regional headquarters in London and Tokyo. For more information, please visit www.orveonglobal.com.

Jefferies LLC served as financial advisor, and Weil, Gotshal & Manges LLP acted as legal counsel to Advent. Perella Weinberg Partners served as financial advisor, and Morgan, Lewis & Bockius LLP acted as legal counsel to Shiseido Americas.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 380 companies in 42 countries, and as of June 30, 2021, had $81 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 250 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. After more than 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

About Orveon

Established in 2021, Orveon is a collective of iconic cosmetics brands, bareMinerals, BUXOM and Laura Mercier, paving the way for the future of the beauty industry. Believing beauty is more than skin deep, Orveon aims to challenge conventional wisdom with humility and deliberate action – all to create positive change. Owning the face of beauty, and striving to face forward together, Orveon is about its employees, as much as the union of these established entities. Together, the company will push beyond being known simply as cultural tastemakers and ascend as advocates of advancement. Embarking on a powerful shift, Orveon is committed to stark honesty, co-creation and making a sustainable cultural impact today and for years to come.

For more information, visit:
Website: www.orveonglobal.com
LinkedIn: wwww.linkedin.com/company/orveonglobal/
Instagram: www.instagram.com/orveonglobal/
Twitter: twitter.com/orveonglobal

Media contacts

Stephanie Barber
5W PR
Orveon@5Wpr.com
+1 646-843-1830

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Compusoft and 2020 complete merger

Combined companies create a global leader in visualization, sales and manufacturing software solutions for interior and construction trades

BOSTON, December 2, 2021—Compusoft and 2020, two industry leading software providers for residential and commercial spaces, have successfully united in a merger of equals to create one company dedicated to powering the sales of customers who create spaces for life. The combined group will specialise in providing solutions for the visualisation, configuration, pricing, quoting and manufacturing of products in highly configured spaces.

Together, the group will provide end-to-end solutions that power sales across the value chain in the kitchen, bathroom, furniture and window & door industries. From customer inspiration through to design and production, businesses involved in creating residential and commercial spaces for life will benefit from industry specialised technology and seamless content exchange that enhances daily working lives.

A global footprint with significantly expanded scale complemented by local expertise will enable the group to better serve customers in more countries than ever before. The combined group will have cross-functional teams based across Europe, North America, South America, Africa and Asia Pacific.

Customers will also benefit from an expanded network of world-class support and access to an unparalleled content platform that will be further enriched. These two core differentiators are central to the future of the new company and will be enhanced by sharing experts and knowledge across the entire group.

In addition, the merger brings together a collective 65+ years’ of industry expertise in technical development.  A shared passion for innovation will drive the enlarged team to bring the most exciting solutions of tomorrow to customers even faster.

“We are excited about the possibilities this combination will give our customers. There will be an even broader range of solutions backed by an extensive content database to power the sales of our customers. Our combined expertise will also give us the ability to accelerate innovation and maximise the potential of our products to meet our customers’ needs.” comments David Tombre, CEO, Compusoft.

Mark Stoever, CEO, 2020 added, “People are our biggest asset and this combination brings together some of the brightest minds in software from across the world, particularly in R&D, sales, content and support, united to better serve our customers. We look forward to what the future holds.”

Further information on the roadmap of the future will be announced to customers in the coming months and customers can contact their account managers should they have any questions.

About Compusoft

Compusoft provides visual CPQ solutions that simplify planning, configuration and visualisation to power sales for the kitchen, bathroom, furniture and window & door industries. Compusoft’s solutions assist customers throughout the sales value-chain from end-customers through to manufacturers and are underpinned by a rich content database. Founded in 1989, Compusoft is headquartered in Sarpsborg, Norway, and serves customers in more than 100 countries with 18 offices across Europe, Asia-Pacific and North America. For more information, please visit www.compusoftgroup.com.

About 2020 Technologies Inc.

2020 helps professional designers, retailers and manufacturers in the interior design and furniture industries capture ideas, inspire innovation and streamline processes. By providing end-to-end solutions and a large collection of manufacturers’ catalogs, 2020’s applications enable professional designers and retailers to create kitchens, bathrooms, furniture and commercial offices that look as stunning on the screen as they do in reality.  2020 solutions for furniture and cabinet manufacturers deliver a complete manufacturing operations management capability to run their factories at maximum efficiency. Founded in 1987 and headquartered in Westford, Massachusetts with direct operations in 11 countries and supports customers in many more locations around the world through a network of value-added resellers. For more information, please visit www.2020spaces.com.

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CVC Fund VIII completes acquisition of Stock Spirits

CVC Capital Partners

Acquisition follows unanimous recommendation of Stock Spirits’ board of directors and approval by shareholders

CVC Capital Partners (“CVC”) is pleased to announce the completion of the acquisition of Stock Spirits Group PLC (“Stock Spirits”) by CVC Capital Partners Fund VIII, following the unanimous recommendation of Stock Spirits’ Board of Directors and the approval by the majority of Stock Spirits’ shareholders.

Stock Spirits holds several market-leading positions in the Central and Eastern European alcoholic beverages sector and has a portfolio of products rooted in local and regional heritage. This includes 70 brands across a range of spirits including vodka, vodka-based flavoured liqueurs, rum, brandy, bitters and limoncello. The company currently enjoys leading positions in the Polish and Czech markets.

CVC sees an opportunity to accelerate Stock Spirits’ growth, pursuing opportunities within its existing geographies alongside expansion into complementary new geographies in Central and Western Europe.

CVC funds are long-standing investors in the region where CVC has a dedicated team with a strong track record of advising on investments into high quality businesses such as Zabka, the Polish market leader in modern convenience retail and PKP Energetyka, the sole distributor of traction electricity to all railway customers in Poland.

István Szőke, a Managing Partner at CVC, commented: “We have followed Stock Spirits with interest for a decade, having originally been impressed by its compelling position across a number of key markets as well as its clear potential for growth. We are delighted to have now completed this transaction and look forward to working closely with management in executing on their strategy and significantly boosting the Company’s growth and development.”

Krzysztof Krawczyk, a Partner at CVC, added: “We are excited to start delivering on our plans for Stock Spirits. In addition to capitalising on our local expertise and track record of helping consumer facing companies across Stock Spirits’ core geographies, we will leverage our M&A capabilities to pursue new areas of growth.”

Mirek Stachowicz, Chief Executive Officer of Stock Spirits, commented: “We are delighted to partner with CVC through this next stage of our journey. CVC’s knowledge of the local marketplaces is second to none and, coupled with its demonstrable track record of successful M&A in the region, will position Stock Spirits for long-term growth.”

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Universal Robina Corporation announces acquisition of Munchy’s

CVC Capital Partners

Universal Robina Corporation (URC), one of the largest branded food and beverage companies in the Philippines with a strong presence in the ASEAN region, reached an agreement with private equity firm CVC Capital Partners (CVC) to acquire a 100% stake in Munchy Food Industries Sdn. Bhd. (Munchy’s) and its wholly owned subsidiary Munchworld Marketing Sdn. Bhd. from CVC Asia IV for 1.925 billion Malaysian Ringgit on a “cash-free, debt free” basis.

Established in 1991, Munchy’s is Malaysia’s No.1 biscuit brand that has now flourished into a recognized and successful brand across the region. Munchy’s offers a wide variety of offerings across all key biscuit segments with well-loved brands include Munchy’s Cream Crackers, LEXUS Cream Sandwich, Oat Krunch, Muzic Wafer, and Choc-O cookies, are available in most retail outlets in Malaysia and more than 50 countries globally.

Irwin C. Lee, President and CEO of URC, said: “URC is delighted to announce the acquisition of Munchy’s which will add immediate value to our international product portfolio, and scale up our Malaysian market position to leadership in the Biscuits category. Munchy’s, with its strong brands, talented organization, and operational excellence, is a great strategic fit with URC. Together, we will be able to further expand the footprint of URC and Munchy’s brands and unlock growth synergies in Malaysia as well as across the ASEAN region.

Alvin Lim, Senior Managing Director of CVC, said: “This has been a highly successful partnership between CVC and the excellent leadership team at Munchy’s that has seen the company expand into new geographies and the launch of numerous innovative and delicious products. Universal Robina Corporation is the perfect new home for Munchy’s and we wish them the very best for the future.”

Rodney Wong, Munchy’s CEO, said: “We are excited to become part of URC. This move will allow Munchy’s to have access to research and development expertise in multiple categories, enhance market knowledge, route to market, and manufacturing capabilities in countries outside of Malaysia. This will translate to development of innovative forward-thinking offerings to our consumers and strengthen our presence in the ASEAN market. Both companies share a common purpose, values and ambition where we both put people first in everything we do, looking to delight everyone with good food choices and inspire happiness together. We would like to thank CVC for their expertise and support over the last three years and look forward for the next phase of profitable growth for Munchy’s.”

The transaction has been approved by the board of directors of both companies and is expected to close by December 2021 subject to fulfilment of customary closing conditions.

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Universal Robina Corporation announces acquisition of Munchy’s

CVC Capital Partners

Universal Robina Corporation (URC), one of the largest branded food and beverage companies in the Philippines with a strong presence in the ASEAN region, reached an agreement with private equity firm CVC Capital Partners (CVC) to acquire a 100% stake in Munchy Food Industries Sdn. Bhd. (Munchy’s) and its wholly owned subsidiary Munchworld Marketing Sdn. Bhd. from CVC Asia IV for 1.925 billion Malaysian Ringgit on a “cash-free, debt free” basis.

Established in 1991, Munchy’s is Malaysia’s No.1 biscuit brand that has now flourished into a recognized and successful brand across the region. Munchy’s offers a wide variety of offerings across all key biscuit segments with well-loved brands include Munchy’s Cream Crackers, LEXUS Cream Sandwich, Oat Krunch, Muzic Wafer, and Choc-O cookies, are available in most retail outlets in Malaysia and more than 50 countries globally.

Irwin C. Lee, President and CEO of URC, said: “URC is delighted to announce the acquisition of Munchy’s which will add immediate value to our international product portfolio, and scale up our Malaysian market position to leadership in the Biscuits category. Munchy’s, with its strong brands, talented organization, and operational excellence, is a great strategic fit with URC. Together, we will be able to further expand the footprint of URC and Munchy’s brands and unlock growth synergies in Malaysia as well as across the ASEAN region.

Alvin Lim, Senior Managing Director of CVC, said: “This has been a highly successful partnership between CVC and the excellent leadership team at Munchy’s that has seen the company expand into new geographies and the launch of numerous innovative and delicious products. Universal Robina Corporation is the perfect new home for Munchy’s and we wish them the very best for the future.”

Rodney Wong, Munchy’s CEO, said: “We are excited to become part of URC. This move will allow Munchy’s to have access to research and development expertise in multiple categories, enhance market knowledge, route to market, and manufacturing capabilities in countries outside of Malaysia. This will translate to development of innovative forward-thinking offerings to our consumers and strengthen our presence in the ASEAN market. Both companies share a common purpose, values and ambition where we both put people first in everything we do, looking to delight everyone with good food choices and inspire happiness together. We would like to thank CVC for their expertise and support over the last three years and look forward for the next phase of profitable growth for Munchy’s.”

The transaction has been approved by the board of directors of both companies and is expected to close by December 2021 subject to fulfilment of customary closing conditions.

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Booking Holdings enters into agreement with CVC Capital Partners to acquire Etraveli Group

CVC Capital Partners

Acquisition will complement Booking Holdings’ ongoing work to build a frictionless global flights offering

Booking Holdings Inc. today announced that it has entered into an agreement with funds managed by CVC Capital Partners (“CVC”) to acquire global flight booking provider, Etraveli Group, for approximately €1.63 billion. Completion of the acquisition is subject to certain closing conditions, including regulatory approval.

Already a partner of Booking.com – helping power its existing flight product – the acquisition of Etraveli Group will complement Booking Holdings’ ongoing work to build a frictionless global flights offering to deliver on the company’s overall mission to make it easier for everyone to experience the world.

“As international air travel rebounds from the impact of the pandemic, we look forward to building upon our existing relationship with Etraveli Group to make the travel booking experience easier and more seamless to support our partners and customers,” said Booking Holdings’ Chief Executive Officer, Glenn Fogel.

“Booking Holdings pioneered the travel space more than two decades ago and they continue to pave the path forward by developing solutions to create seamless travel experiences,” said Mathias Hedlund, Etraveli Group’s Chief Executive Officer. “We have had a fantastic time together with our current owner CVC, establishing Etraveli Group as a global provider of attractive flight options at affordable prices. Today is a day of recognition, as well as marking a new phase in our relentless urge to improve further. We are thrilled to become a part of Booking Holdings, and we look forward to the next chapter of our own development as we continue to enhance the flight booking experience for our customers and partners worldwide.”

“Mathias and his team have built a world-leading platform for selling flights. Joining the Booking Holdings family is a logical step in Etraveli’s journey. We wish them all the very best and bon voyage!” said Lorne Somerville, Chairman of Etraveli Group and a Managing Partner of CVC.

Etraveli Group will remain headquartered in Sweden and operate as an independent business under Booking Holdings, led by their current management team.

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BDC enters into partnership with Plug In Digital

Bridgepoint

Bridgepoint Development Capital (“BDC”) has signed an agreement to invest in Plug In Digital (“PiD”), one of the largest independent video game distributors and a rising video game publisher. Existing shareholders, including Francis Ingrand, are reinvesting significantly in the operation, while the transaction enables the opening of PiD’s capital to its employees.

Plug In Digital orchestrates a $75m funding round to finance its organic development, including the publishing of high-potential indie games meeting PiD editorial line as well as its external growth strategy, targeting notably video games’ developers with own-IP on which the company can further capitalize. Financing is provided by Eurazeo in the form of unitranche debt and includes a dedicated and committed line to finance future external growth.

Plug In Digital was founded in 2012 by Francis Ingrand, quickly growing into a full-service games distributor and publisher for today’s most exciting games across PC, cloud, console and mobile platforms. The company’s two publishing labels, Dear Villagers and PID Games, boast an impressive portfolio that spans a variety of today’s most popular genres, reaching players across all platforms and delivering playful, distinctive and audacious games to global audiences.

Francis Ingrand, CEO and Founder of Plug In Digital commented: “We are excited to work with Bridgepoint for the next steps of our ambitious development project. We are confident they are the right partner to accompany us in our growth journey, mixing organic development and targeted strategic acquisitions. We are pleased to have attracted Bridgepoint who believes in our differentiating model, our strategic direction and our people.”

Plug In Digital has seen a 50 percent+ yearly growth over the past five years, hitting a successful stride with its flagship publishing label Dear Villagers which has launched more than eight cross-platform, cross-gen titles into the global games marketplace since its inception in early 2019. One of its most recent titles, The Forgotten City, has been lauded by international critics for its unique, eye-catching design as well as its exceptional narrative and dialogue and has been a remarkable commercial hit. PID Games, the second label under the Plug In Digital umbrella, is focused on offering studios a flexible publishing or co-publishing support on PC, Console and Mobile. PID is on track to publish 30 games this year from its global development partners.

Olivier Nemsguern, Partner at Bridgepoint Development Capital and responsible for investment activities in France added: “We have been following the Video Games sector closely for a period of time and are impressed by Plug In Digital’s journey to-date. The company is well-positioned in a really exciting market, and has built a great brand in the Indie publishing space, relying on its committed and skilled leadership team. We look forward to partnering with the Company during its next chapter of development.”

Bridgepoint Development Capital, through its BDC IV fund, has concluded through this transaction, its fourth investment in Europe, and first in France.

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KKR and Apache Capital form £1.7bn strategic partnership to deliver next phase of build-to-rent multifamily housing pipeline with Moda Living

  • KKR and Apache Capital to invest £610m in purpose-built apartments designed for rent in core cities across the UK
  • The collaboration will deliver over 4,000 high quality rental homes as part of a £1.7bn development pipeline
  • Properties will be developed and operated by Moda Living

London, 22 November, 2021 — KKR, a leading global investment firm, and Apache Capital, a leading investment manager focused on UK residential real estate, announced that KKR and Apache Capital have established a joint venture to create a UK build-to-rent (‘BTR’) multifamily housing investment platform.

KKR and Apache Capital will invest £610m to fund the delivery of BTR projects in core cities across the UK that will be developed and operated by Moda Living (‘Moda’), with sites already identified in Birmingham, Brighton and Hove, and London.

The developments will deliver over 4,000 apartments that are purpose-built and designed for rent as part of a £1.7bn development pipeline. The homes will be built to the latest design specifications, with high levels of on-site amenities and service provision for residents.

Rosa Brand, Director at KKR, said: “We are excited to work alongside Apache Capital, and Moda Living, both highly experienced strategic partners with excellent track records, over the long term, to deliver a best in class portfolio in the build-to-rent residential sector, which remains a thematic priority for KKR”.

John Dunkerley, CEO and co-founder of Apache Capital said: “Our strategic partnership with KKR demonstrates the growing maturity of the UK build-to-rent sector, which continues to attract global institutional capital thanks to its favourable demand-supply dynamics and defensive, counter-cyclical characteristics.

“This collaboration is consistent with our strategy of creating a premium product marked by high levels of service and amenity provision and we look forward to seeing the projects completed.”

Tony Brooks, Managing Director at Moda Living, said: “With the backing of Apache Capital and KKR we will deliver the next generation of build-to-rent neighbourhoods that will set new standards for style and service while meeting the growing demand for high quality rental housing that is responsive to modern lifestyles”.

The joint venture between Apache Capital and KKR follows the success of Apache Capital and Moda’s second operational multifamily BTR scheme, Moda, The Lexington, in Liverpool, where 60 percent of apartments are already leased two months after launch. Moda’s flagship scheme, Moda, Angel Gardens, in Manchester, is fully stabilised, having set new sector benchmarks for rents achieved.

KKR’s investment was made via KKR Real Estate Europe Partners Europe II, a US$2.2 billion fund dedicated to value add and opportunistic real estate investments in Western Europe.

-ENDS-

About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Apache Capital
Apache Capital is an investment manager focused on residential real estate for rent with a proven track record of creating value through funding, developing and operating its assets under management.

Apache Capital aims to raise the standard of living for all generations across the UK, building a portfolio of digitally-enabled, consumer-focused brands that deliver for investors and create a more thoughtfully designed, more convenient and aspirational lifestyle for customers.

Investing for the long-term, Apache Capital’s philosophy has been to focus on demographically and structurally supported asset classes and the company is behind sector-shaping investments across purpose-built student accommodation, senior living, multi-family and single-family housing.

Apache Capital. Invest in Living. Website: www.apachecapital.co.uk

About Moda Living
Moda Living is the UKs leading developer and operator of rental communities. Founded in 2014, the business has built a UK-wide pipeline of more than 18,400 homes with a combined GDV in excess of £6 billion. Moda operates a family of living sector platforms with leading global institutional investment partners. Moda’s vertically integrated model designs, builds and operates next generation spaces to live, work and play. Moda continues to push the boundaries of style, service and innovation to craft considered, diverse residential communities providing different products at different price points for different lifestyle requirements. Moda’s core brand foundations focus on outstanding customer service, integrated technology and health and wellbeing to provide an optimum rental experience and a better quality of life.

Media Enquiries:

KKR

Alastair Elwen / Sophia Johnston
Finsbury Glover Hering
Telephone: +44 20 7251 3801
Email: kkr@fgh.com

Apache Capital

Tom Roberts
Blackstock Consulting
Telephone: 07722440999
Email: Tom@blackstock.co.uk

Moda Living

Emma Shone
Corporate PR Manager, Moda Living
emma.shone@modaliving.com
07538555332

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CVC Fund VIII and HPS Investment Partners to acquire stakes in Authentic Brands Group

CVC Capital Partners

World-leading private equity and investment firms, alongside ABG’s existing equity partners, to support the company in its next phase of global growth

Authentic Brands Group (“ABG”), a global brand development, marketing and entertainment company, today announces that funds advised by CVC Capital Partners (“CVC”) and HPS Investment Partners (“HPS”) have signed definitive agreements to purchase significant equity stakes in the company from certain current ABG shareholders. The transaction values the company at $12.7 billion in enterprise value.

“We have known CVC and HPS for many years and are thrilled that they are coming on board as significant stakeholders in ABG. Their commitment is a testament to the exceptional work our team has put forth as well as CVC and HPS’s confidence in our future growth,” said Jamie Salter, Founder, Chairman and CEO of ABG. “The entire ABG team – from our leadership to the director of first impressions – has done an incredible job of building a sustainable and scalable business with a laser focus on brand development, digital innovation, e-commerce, specialty retail, expansion into new verticals and proven business models.”

Since its founding in 2010, ABG has experienced significant growth by implementing a proven playbook that connects strong brands with best-in-class licensees and a network of partners to optimize value in the marketplace. ABG’s portfolio has grown to more than 30 brands that are diversified across the fashion, luxury, outdoor, home, entertainment, events, media and fine arts sectors. The acquisition of Reebok, which closes in Q1 of 2022, will bring ABG’s portfolio to more than $20 billion in annual system-wide retail sales with global distribution in more than 150 countries and highlights ABG’s ability to successfully integrate world-class brands into its unique platform.

“The investments from CVC Capital and HPS Investment Partners are a strong vote of confidence in ABG’s long-term vision and strategic approach,” said Nick Woodhouse, President and CMO of ABG. “We are primed to continue furthering our global presence, acquiring new entertainment and lifestyle brands and driving organic growth for our portfolio.”

“We have followed ABG’s success story for several years and are delighted to be partnering with the company and its investor group,” said Chris Stadler, a Managing Partner at CVC. “The power of the ABG platform is evident in its growth to date, and we believe the company is only beginning to realize the full benefit of its scale and diversification. We look forward to working with Jamie, Nick and the talented team at ABG to create even greater value together.”

“ABG has shown that its unique business model can successfully innovate and grow brands across a broad spectrum of consumer categories, and we are excited to leverage CVC’s experience in the consumer, retail and media and entertainment sectors to support the company’s growth ambitions,” said Chris Baldwin, a Managing Partner at CVC. “We plan to work closely with the ABG team to execute on their strategic priorities, particularly around international expansion, given our extensive global footprint and experience in local markets around the world.”

“We are thrilled to partner with Jamie and his outstanding team, who we have known for nearly a decade, to support ABG’s ongoing development and growth strategy as it continues to lead the market in the brand licensing arena, underpinned by a highly differentiated and innovative acquisition and brand management platform,” said Scot French, a Governing Partner of HPS.

BlackRock Long Term Private Capital will retain its position as ABG’s largest shareholder, which it has held since 2019. Simon, General Atlantic, Leonard Green & Partners, GIC, Brookfield, Lion Capital, Jasper Ridge Partners and Shaquille O’Neal will continue to hold significant equity positions in the company.

In connection with the transaction, BofA Securities, Inc. was the M&A advisor for ABG. BofA Securities, Inc. and Goldman Sachs & Co. LLC also acted as financial advisors for ABG. Latham & Watkins LLP acted as legal counsel for ABG.

Upon closing of the transaction, which is expected in December 2021, CVC and HPS will join ABG’s Board of Directors.

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Antelope Acquires Bocce’s Bakery

Alpine

SAN FRANCISCO–(BUSINESS WIRE)–Antelope, an omni-channel, pet consumer platform focused on delivering high-quality, natural pet products, announced its acquisition of Bocce’s Bakery (“Bocce’s”), an all-natural, limited-ingredient pet treats company. Bocce’s will continue to operate under its brand name within Antelope.

Bocce’s Bakery was founded in 2010 by Andrea Tovar after Andrea had a difficult time finding simple, natural treats for her dog, Bocce. Andrea started baking treats in her NYC apartment with the belief that dogs deserve real food. Natalia Tovar, Andrea’s sister joined the business in the first year. Eleven years later, Bocce’s has grown into one of the fastest growing brands in pet treats, with a full line of treats of over 75 SKUs of all-natural, innovative recipes for dogs (and soon cats) of all ages. Bocce’s treats are carried in thousands of retail stores across the nation and can be found in local independent pet stores, natural grocery chains, and national retailers such as Target, Petsmart, Petco, and Shake Shack. Andrea and Natalia will continue as Senior Advisors to the company.

Antelope was launched by Alpine Investors (“Alpine”) and Founder and CEO, Wendy Wen, with the mission to build a next-generation conglomerate of high-quality natural pet brands. Wendy was previously the Co-Founder and COO of SENREVE, a digitally-native, omni-channel luxury handbag brand, where she’d built the business from the ground up to a globally recognized name.

“We started Bocce’s in a small oven and could not be more proud of how our customers have stood behind our mission over the past decade. In considering the next step in Bocce’s growth trajectory, we have found Alpine to be unique in their energy, enthusiasm, and care for our brand,” said Andrea. “We are confident that Alpine and Wendy will continue to build on Bocce’s strong foundation while maintaining Bocce’s quality promise and our commitment to making a positive change in the pet aisle. We are excited about the opportunities that partnering with Alpine will unlock for Bocce’s and look forward to this next chapter in the Bocce’s story.”

“The company that Andrea and Natalia have built is unmatched in its product, branding, and values,” said Wendy, CEO of Antelope. “I am thrilled to partner with Bocce’s and am committed to preserving the unique DNA that has made Bocce’s so successful while investing in the infrastructure to help the brand scale to the next level.”

About Bocce’s Bakery

Bocce’s was founded in 2010 in a West Village kitchen with a mixer, an oven, and a scruffy mutt named Bocce with the belief that dogs deserve better. Better food with fresher, simpler, all-natural ingredients, and lots of treats! Bocce’s treats can now be found nationally – stocked in independent pet stores across the US, retailers such as Target, Petco, Chewy, and specialty locations such as Shake Shack. To learn more, visit: www.boccesbakery.com

About Antelope

Antelope was founded in August 2021 with the mission to elevate the lives of all pets by delivering the highest quality products across all consumable categories. Antelope aims to buy, build and grow the best pet consumable brands across all verticals. Business owners interested in learning more about partnerships with Antelope should contact Tyler Frances at tyler@alpineinvestors.com. To learn more, visit: www.antelopepets.com.

About Alpine Investors

Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in companies in the software and services industries. Its PeopleFirst strategy includes a CEO program which allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $2.25 billion eighth fund. For more information, visit www.alpineinvestors.com.

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