Today's Transactions
A compilation of the most recently announced middle-market deals and other M&A developments, updated continuously throughout the day
Updated 12:20 p.m., December 19
Nasdaq-listed supermarket operator Winn-Dixie Stores Inc. sold to privately held Bi-Lo LLC for $530 million. Once the deal closes Winn-Dixie will become a subsidiary of Greenville, S.C.-based Bi-Lo, but continue operating under its current name. The combined entity will have 690 stores in nine states scattered throughout the Southeast. Bi-Lo said it will pay $9.50 in cash per share of Jacksonville, Fla.-based Winn-Dixie stock, a 75 percent premium to its Friday close of $5.43. The deal comes about a week after Roundy's Supermarket’s private equity owners, Willis Stein & Partners, decided to pursue an initial public offering for the Wisconsin-based supermarket chain.
Promotional products maker Vistaprint, based in Lexington, Mass., agreed to buy venture-backed Webs Inc. for $117.5 million. Webs, based in Silver Spring, Md., operates do-it-yourself websites Webs.com and Pagemodo.com. It raised roughly $23 million in venture capital from Novak Biddle Venture Partners and Columbia Capital.
New York-based private equity firm Harvest Partners LP completed its acquisition of Driven Brands Inc., franchisor of automotive aftermarket services Meineke and Maaco. Charlotte, N.C.-based Carousel Capital had been shopping Driven’s 1,500 locations, which provide service to more than three million cars annually. Terms of the deal were not disclosed. Driven, also based in Charlotte, generates roughly $900 million in annual system-wide sales.
Crédit Agricole SA sold all of the funds managed and owned by its private equity subsidiary to New York investment firm Coller Capital as part of a plan to optimize capital allocation and refocus the French bank on local business. The sale reduces Crédit Agricole’s risk-weighted assets by about 900 million euros ($1.171 billion). Terms of the deal remain undisclosed.
New York-based private equity firm Harvest Partners LP completed its acquisition of Driven Brands Inc., franchisor of automotive aftermarket services Meineke and Maaco. Charlotte, N.C.-based Carousel Capital had been shopping Driven’s 1,500 locations which provide service to more than three million cars annually. Terms of the deal were not disclosed. Driven, also based in Charlotte, generates roughly $900 million in annual system-wide sales.
Source Refrigeration & HVAC Inc. purchased Atlanta-based DHR Mechanical Services-Georgia, expanding its platform as a provider of commercial refrigeration services for supermarket chains and convenience stores throughout North America. Source Refrigeration, based in Anaheim, Calif., is backed by New York private equity firm Arsenal Capital Partners. Financial terms of the transaction have not been announced.
For more information on related topics, visit the following:
