 |
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.
Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
