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    Consumer Discretionary Q4 2020

    Q4 2020 Consumer Discretionary

    M&A Transaction Trends

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Dunkin' Brands Group, Inc.
    • Inspire Brands, Inc.
    • $12,364.47
    • FanDuel Inc.
    • Flutter Entertainment plc
    • $4,198.36
    • Safe Harbor Marinas, LLC
    • Sun Communities Operating Limited Partnership
    • $2,133.00
    • ServiceMaster Brands Businesses of ServiceMaster Global Holdings, Inc.
    • Roark Capital Group
    • $1,553.00
    • All Of Retail And Operating Assets Of J. C. Penney Company, Inc.
    • Simon Property Group, Inc.; Brookfield Property Partners L.P
    • $1,192.00
    • Scientific Games Corporation
    • Caledonia (Private) Investments Pty Limited
    • $925.46
    • Substantially All Assets of GNC Holdings, Inc.
    • Harbin Pharmaceutical Group Holding Co., Ltd.
    • $760.00
    • Shoe Palace, Inc./Nice Kicks LLC
    • Genesis Holdings Inc.
    • $681.00
    • Nutrisystem, Inc.
    • Kainos Capital LP
    • $575.00
    • Brand Assets of Ascena Retail Group, Inc.
    • Premium Apparel, LLC
    • $540.00

     

    Source S&P Capital IQ as of 1/12/2021 and PCE Proprietary Data

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    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)

    Pearl-Rachel 667 x 667

     

    Rachel Pearl

    Valuation

    Orlando Office

    407-621-2140 (direct)

    rpearl@pcecompanies.com

    Connect
    407-621-2140 (direct)

    407-621-2199 (fax)

    R Winston 667 x 667

     

    Richard Winston

    Valuation

    Atlanta Office

    404-994-4650 (direct)

    rwinston@pcecompanies.com

    Connect
    404-994-4650 (direct)

    407-621-2199 (fax)

    Thomas Harrington

     

    Thomas Harrington

    Investment Banking

    Orlando Office

    407-621-2145 (direct)

    tharrington@pcecompanies.com

    Connect
    407-621-2145 (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. Nassauer, Sarah. “Holiday Shoppers Steered Clear of Stores, Favoring Online Buying.” The Wall Street Journal, Dow Jones & Company, 26 Dec. 2020.
    2. Rivas, Teresa. “In a Pandemic Year, Online Seems to Own Holiday Shopping.” Barron's, Barrons, 5 Dec. 2020.
    3. Kapner, Suzanne. “Macy's CEO to States: Don't Close Us Down Again.” The Wall Street Journal, Dow Jones & Company, 19 Nov. 2020.
    4. Garcia, Tonya. “Abercrombie & Fitch Is Closing 7 Flagships That Account for 10% of Global Square Footage but Only 1% of Revenue.” MarketWatch, MarketWatch, 2 Dec. 2020.
    5. Haddon, Heather. “Olive Garden, Other Chains Suffer New Losses During Latest Covid-19 Surge.” The Wall Street Journal, Dow Jones & Company, 18 Dec. 2020.
    6. Saigol, Lina, and Callum Keown. “Ben & Jerry's, Breyers and Lipton Parent Unilever Prepares to Cash in on Plant-Based-Food Revolution with $1.2 Billion Sales Target.” MarketWatch, MarketWatch, 18 Nov. 2020.
    7. McNish, Jacquie, and Rebecca Smith. “Cruise Ships Can't Sail Away From Covid.” The Wall Street Journal, Dow Jones & Company, 31 Dec. 2020.
    8. Nathan-Kazis, Josh. “Georgia Results Hit Health Insurers. Analysts Think That's Wrong.” Barron's, Barrons, 6 Jan. 2021.
    9. Choudhury, Saheli Roy. “Samsung Says Profit Likely Rose 26% from a Year Ago in the Fourth Quarter.” CNBC, CNBC, 8 Jan. 2021.

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