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Powerscourt handles THG, the British online retailer of consumer brands, as it rejects a takeover offer from Apollo Global Management.
Apollo made its bid on April 17 and discussed the offer with THG’s board.
THG board members and shareholders representing a majority of the outstanding share rejected the offer based on its inadequate valuation and structure.
The company expects its revamped board and management team are poised to maximize shareholder value across its nutrition, beauty and ingenuity divisions.
Charles Allen, THG’s independent chairman said the board remains fully confident in THG's strategic direction and long-term prospects as an independent company.
Thanks to “THG’s strong balance sheet and category leading positions within substantial global end markets that continue to benefit from long-term structural growth, we have confidence in our ability to deliver long-term value for shareholders and remain on track to be cashflow positive in 2024” said Allen.
Powerscourt has Nick Dibden, Victoria Palmer and Nick Haynes working the THG business.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
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.
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