 |
Joele Frank, Wilkinson Brimmer Katcher and ICR Inc. handled the high-profile IPO of China's Luckin Coffee, which began trading today on the NASDAQ with an initial market valuation of about $4B.
The two-year-old company, which is opening 200 to 300 stores a month, aims to remove Starbucks from its perch as the top coffee shop in China.
Luckin has 2,370 stores in 28 cities, while Starbucks has more than 3,300 outlets.
Its outlets, which don't accept cash and lack seating, are geared to takeout and pick-up business
The company generated sales in the $120M range in 2018.
JFWBK's Ed Trissel, Leigh Parrish, Scott Bisang and Amy Feng represent Luckin, while ICR has Bill Zima and Fitzhugh Taylor on the account.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
Burson Buchanan handles AAR Corp as the supplier of parts and services to the aviation market acquires a 65 percent stake in MRO Holdings.
The financial services industry thinks it needs more communications, when the real issue is credibility—and that requires entirely different solutions.
