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    Consumer Discretionary Q4 2021

    Q4 2021 Consumer Discretionary

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Stamps.com Inc.
    • Thoma Bravo, L.P.
    • $6,717.18
    • DexKo Global Inc.
    • Brookfield Business Partners L.P.
    • $3,400.00
    • Apple Leisure Group
    • Zurich Hotel Investments B.V.
    • $2,769.00
    • Consumer Club, Inc.
    • priceline.com LLC
    • $1,200.00
    • Firehouse Restaurant Group, Inc.
    • Restaurant Brands International Inc.
    • $1,000.00
    • Substantially All Assets of edX Inc.
    • 2U, Inc.
    • $800.00
    • EverFi, Inc.
    • Blackbaud, Inc.
    • $750.00
    • RRR Palms LLC
    • San Manuel Gaming and Hospitality Authority
    • $650.00
    • W.S. Badcock Corporation
    • Franchise Group, Inc.
    • $581.40
    • Five Luxury and Upper Upscale Hotels
    • Lone Star Americas Acquisitions, Inc.
    • $551.00

    Other Financial Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Live Auctioneers LLC
    • ATG Media US, Inc.
    • $525.00
    • Diamonds Direct USA Inc.
    • Sterling Jewelers Inc.
    • $490.00
    • Twin Peaks Buyer, LLC
    • FAT Brands Inc.
    • $297.68
    • 40 Pilot Convenience Stores of Pilot Corporation
    • CGS Stores, LLC
    • $220.00
    • Ocean Resort Casino
    • Ilitch Holdings, Inc.
    • $175.00

    Other Strategic Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Select Interior Concepts, Inc.
    • Sun Capital Partners, Inc.
    • $413.40
    • Entire Hotel Portfolio of Condor Hospitality Trust, Inc.
    • Blackstone Real Estate Advisors
    • $305.00
    • Canoo Inc.
    • AFV Partners LLC
    • $230.33
    • W Hollywood Hotel
    • Oaktree Capital Management, L.P.; Trinity Fund Advisors LLC
    • $197.00
    • Four Seasons Resort and Residences Napa Valley
    • Sunstone Hotel Investors, Inc.
    • $170.50

     

    Source S&P Capital IQ as of 1/11/2022 and PCE Proprietary Data

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    PCE Transactions

    Contacts

    Michael Poole

    Orlando Office

    407-621-2112

    David Jasmund

    Orlando Office

    407-621-2111

    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. Mutikani, Luca. “Rising inflation, relentless pandemic dampen U.S. consumer confidence.” Reuters, Reuters, 30 Nov. 2021.
    2. Ryan, Joal. “Supply chain issues: 13 things you may (or may not) have trouble finding during the 2021 holiday season.” CBS News, CBS Interactive Inc., 2 Dec. 2021.
    3. Thomas, Lauren. “Cyber Monday online sales drop 1.4% from last year to $10.7 billion, falling for the first time ever.” CNBC, CNBC LLC., 30 Nov. 2021.
    4. Moffat, Christie and Hudgins, Chris. “Black Friday saw big improvements for US malls, but still below 2019 levels.” S&P Capital IQ, S&P Global Market Intelligence, 8 Dec. 2021.
    5. Clickatell. “Clickatell's 2022 Prediction: Brands Will Prioritize Chat Commerce to Improve the Consumer Experience, Becoming a Multi-Billion Dollar Market.” PRNewswire, Cision US Inc., 9 Dec. 2021.
    6. Arcieri, Katie. “E-commerce retailers' hiring spree shows robots not ready for many human tasks.” S&P Capital IQ, S&P Global Market Intelligence, 8 Dec. 2021.
    7. Winck, Ben and Kiersz, Andy. “Inflation was the highest it's been in nearly 40 years in November.” Business Insider, Insider Inc., 10 Dec. 2021.
    8. Robertson, Harry. “Elon Musk and Jeff Bezos have sold $20 billion of Tesla and Amazon stock this year as insider sales soared to a record high.” Business Insider, Insider Inc., 2 Dec. 2021.

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