 |
Longacre Square Partners handles media for Alta Fox Capital Management, which is pressing Hasbro Inc. to spin off its fast-growth gaming unit to bolster its stock price.
Fort Worth-based Alta Fox, owner of a 2.5 percent Hasbro stake, has nominated five members to the toy company’s board of directors.
Alta Fox claims Hasbro can simplify and improve its corporate structure by spinning out the Wizards of the Coast segment, which it calls “a hidden gem” with a completely different growth, margin and valuation profile than the consumer products and entertainment units.
The Wizards of the Coast and gaming division chalked up 42 percent revenue growth in 2021, compared to Hasbro’s 17 percent jump in total sales.
Hasbro, which is represented by Brunswick Group, claims it is on the right path to deliver sustainable growth for shareholders.
It notes that Chris Cocks, who is president/COO of the Wizards of the Coast and digital gaming division, becomes corporate CEO on Feb. 25.
Hasbro expects Cocks’ ability to create and nurture brands will accelerate corporate growth.
Longacre’s Greg Marose and Charlotte Kiaie represent Alta Fox.
Brunswick’s Nik Deogun handles Hasbro.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
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.
