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H/Advisors handles Europastry as the Barcelona-based marketer of premium frozen bakery products postpones its IPO for the second time in less than four months.
Blaming the “international geopolitical situation” for the postponement, Europastry will “continue to evaluate the possibility of going public when the market situation allows it.”
The Financial Times reported that world’s biggest “frozen croissant” IPO may have fizzled because some bankers had considered the IPO’s $1.6B valuation too high.
Europastry had canceled an IPO in June due to market uncertainty tied to the French parliamentary election.
Founded in 1987 by the Gallés family, Europastry has more than doubled its annual sales to $1.5B during the past seven years. It operates in 80 countries and counts Starbucks and Pret A Manger as customers.
David Stürken, a partner at H/Advisors Matiland, worked the IPO.
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.
