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    Consumer Discretionary Q2 2020

    Q2 2020 Consumer Discretionary

    M&A Transaction Trends

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Real Estate Assets of Tropicana Las Vegas Hotel and Casino
    • Gaming and Leisure Properties, Inc.
    • $307.50
    • 3Sixty Duty Free
    • Hotel Shilla Co.,Ltd
    • $121.00
    • The Hutton Hotel
    • Geolo Capital LP; BentallGreenOak; Flank Management LP
    • $70.00
    • Pet Cremation Business of Matthews International Corporation
    • Undisclosed Buyer
    • $57.20
    • OrgHarvest, Inc.
    • First Seed Farms, Inc.
    • $50.00
    • Krystal Company
    • Fortress Investment Group LLC; Golden Child Holdings
    • $48.50
    • Substantially all the Assets of Olivet Memorial Park and Olivet Funeral and Cremation Services
    • Cypress Lawn Cemetery Association
    • $41.40
    • The Courtyard by Marriott Boynton Beach
    • Boynton Property Holdings, LLC
    • $19.04
    • Decor Intermediate Holdings LLC
    • Undisclosed Buyer
    • $19.00
    • 114,000 Residential Alarm Monitoring Contracts of Protect America, Inc.
    • Monitronics International, Inc.
    • $15.00

     

    Source S&P Capital IQ as of 7/6/2020 and PCE Proprietary Data

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    Contacts

    Michael Poole

    Orlando Office

    407-621-2112

    David Jasmund

    Orlando Office

    407-621-2111

    David Jasmund

     

    David Jasmund

    Investment Banking | ESOP

    Orlando Office

    407-621-2111 (direct)

    djasmund@pcecompanies.com

    Connect
    407-621-2111 (direct)

    407-621-2199 (fax)

    Eric Zaleski

     

    Eric Zaleski

    Investment Banking | ESOP

    Chicago Office

    847-239-2466 (direct)

    ezaleski@pcecompanies.com

    Connect
    847-239-2466 (direct)

    407-621-2199 (fax)

    Melissa Ritter

     

    Melissa Ritter

    Investment Banking

    Orlando Office

    407-621-2128 (direct)

    mritter@pcecompanies.com

    Connect
    407-621-2128 (direct)

    407-621-2199 (fax)

    Michael Rosendahl

     

    Michael Rosendahl

    Investment Banking

    New York Office

    201-444-6280 Ext 1 (direct)

    mrosendahl@pcecompanies.com

    Connect
    201-444-6280 Ext 1 (direct)

    407-621-2199 (fax)

    Will Stewart

     

    Will Stewart

    Investment Banking | ESOP

    Orlando Office

    407-621-2124 (direct)

    wstewart@pcecompanies.com

    Connect
    407-621-2124 (direct)

    407-621-2199 (fax)

    whitcomb-woody

     

    Woody Whitcomb

    Investment Banking

    Orlando Office

    407-621-2113 (direct)

    wwhitcomb@pcecompanies.com

    Connect
    407-621-2113 (direct)

    407-621-2199 (fax)

    poole_michael

     

    Michael Poole

    Investment Banking

    Orlando Office

    407-621-2112 (direct)

    mpoole@pcecompanies.com

    Connect
    407-621-2112 (direct)

    407-621-2199 (fax)

    vogt-paul

     

    Paul Vogt

    Valuation

    Atlanta Office

    678-641-4760 (direct)

    pvogt@pcecompanies.com

    Connect
    678-641-4760 (direct)

    407-621-2199 (fax)

    Mackenzie Moran

     

    Mackenzie Moran

    Investment Banking

    New York Office

    201-444-6280 Ext 3 (direct)

    mmoran@pcecompanies.com

    Connect
    201-444-6280 Ext 3 (direct)

    407-621-2199 (fax)

    Isabel Carta

     

    Isabel Carta

    Investment Banking

    Orlando Office

    407-621-2149 (direct)

    icarta@pcecompanies.com

    Connect
    407-621-2149 (direct)

    407-621-2199 (fax)

    Philipp Seubert

     

    Philipp Seubert

    Investment Banking

    New York Office

    201-444-6280 Ext 4 (direct)

    pseubert@pcecompanies.com

    Connect
    201-444-6280 Ext 4 (direct)

    407-621-2199 (fax)

    Data Assumptions

    This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

    Glossary

    EBIT - Earnings Before Interest and Taxes
    EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
    LTM - Last Twelve Months
    TEV - Total Enterprise Value

    Sources:

    1. Kapner, Suzanne, Biswas, Soma, "Brooks Brothers, Hurt by Casual Fridays and Coronavirus, Files for Bankruptcy", WSJ, July 8, 2020.
    2. Cheng, Andria, "Retail Sales Numbers Show a Record Jump in May, But Investor's Celebration is Premature", Forbes, June 16, 2020.
    3. Bursztynsky, Jessica, "Disney says it now has 54.5 million Disney+ subscribers", CNBC, May 5, 2020.
    4. Lockwood, Lisa, "U.S. Consumers Start to Spend on Discretionary Categories," WWD, June 29, 2020.
    5. Franck, Thomas, "May's record jobs comeback," CNBC, June 5, 2020.
    6. Jones, Orion, "Retail and hospitality led June job gains as virus surged", The Real Deal, July 2, 2020.
    7. Feltmate, Thomas, "U.S. Vehicle Sales (June 2020)", TD Bank, July 1, 2020.
    8. Thomas, Lauren, "No more dressing rooms: This virtual fitting experience is moving into Brookfield malls," CNBC, June 30, 2020.
    9. Harring, Alex, "Casinos are seeing strong sales despite social distancing, Circa Resort CEO says," CNBC, July 2, 2020.
    10. Presser, Brandon, "The Post-Pandemic Hotel Looks a lot like a Cruise Ship", Bloomberg, July 2, 2020.

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