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Brunswick Group is handling 7-Eleven’s $21B cash acquisition of the Speedway convenience store chain of Marathon Petroleum.
The addition of 3,900 Speedway units will bolster 7-Eleven’s US and Canada network to about 14,000 stores. 7-Eleven will strengthen its position on the East Coast and Midwest and have a presence in 47 of the top 50 American markets.
7-Eleven, a unit of Japan’s Seven and i Holdings, operates, franchises and/or licenses more than 70,000 convenience stores in 17 countries.
Jonathan Doorley, head of Brunswick’s US M&A team, leads the deal team from New York. He’s supported by NYC partner Charlie Koons, director Kate Beers and Tokyo’s Daisuke Tsuchiya, who heads the firm’s Japan practice.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
