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Sard Verbinnen is handling media for Bed Bath & Beyond as the retailer is pressed by billionaire investor Ryan Cohen to revamp its operations and explore strategic alternatives.
Cohen, co-founder of Chewy Inc., online pet products retailer, and chairman of GameStop, owns a 9.8 percent in BB&B via his RC Ventures investment arm.
BB&B says it will “carefully review” RCV’s letter and hopes “to engage constructively around the ideas they have put forth.”
It also noted that 2021 marked the first year “our bold, multi-year transformation plan, which we believe will create significant long-term shareholder value.”
Sard Verbinnen has Jim Barron and Jared Levy working the BB&B account.
The firm is part of Finsbury Glover Hering.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
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.
