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Bain has been interviewing investment banks to hire financial advisers that will help the private equity firm come up with a plan to cash out on its majority stake in Varsity Brands, the sources said. Varsity Brands generates more than $400 million in 12-month earnings before interest, taxes, depreciation and amortization, the sources added, asking not to be identified because the matter is confidential. Varsity Brands and Bain declined to comment. Varsity Brands consists of two main businesses, BSN SPORTS and Varsity Spirit. Varsity kept the yearbooks business when it sold Herff Jones to private equity firm Atlas Holdings earlier this year.

Persons: Kim Kyung, Bain, Varsity's Herff Jones, Herff Jones, Catterton, Abigail Summerville, Nick Zieminski Organizations: Bain Capital, REUTERS, Varsity Brands, BSN SPORTS, Spirit, Nike, Varsity, Atlas Holdings, Bain, Charlesbank Capital Partners, Partners Group, Birkenstock, ACON Investments, Kelso, Co, Equity, Thomson Locations: Tokyo, Japan, U.S, Varsity's, New York, Augusta

NFL football helmets are seen on display in Tampa, Florida, U.S., February 3, 2021. REUTERS/Eve Edelheit/File Photo Acquire Licensing RightsNov 6 (Reuters) - U.S. maker of football helmets and gear Riddell is exploring a sale, the company told Reuters, in a deal that could value it at around $800 million, people familiar with the matter said. Riddell was founded in 1929 by John T. Riddell who invented gear such as removable football cleats and plastic helmet shells. Fenway Partners acquired Riddell Sports Group in 2003 and combined it with Bell Sports in 2004. In 2014, Fenway again changed the company's name to BRG Sports for its core Bell, Riddell and Giro brands and sold its Easton baseball and softball business to Bauer Performance Sports.

Persons: Eve Edelheit, Riddell, Robert W, Baird, John T, Abigail Summerville, Rod Nickel Organizations: REUTERS, Reuters, National Football League, UBS Group, Co, Fenway Partners, Riddell Sports Group, Bell Sports, Easton Sports, Fenway, Sports, Bell, Giro, Easton, Bauer Performance Sports, Vista, Blackburn, BRG Sports, Marucci Sports, Fox Factory Holding, Thomson Locations: Tampa , Florida, U.S, Easton, Bell, New York

Alo Yoga founders Danny Harris and Marco DeGeorge have hired investment bank Moelis (MC.N) to advise on options that include selling a stake in the company, the sources said. No transaction structure has been agreed, and it is possible that Alo Yoga decides against any deal, said the sources, who requested anonymity because the matter is confidential. Spokespeople for Alo Yoga and Moelis declined to comment. Alo Yoga is part of Harris and DeGeorge's company Color Image Apparel, which also includes their Bella+Canvas brand. Kim Kardashian’s underwear brand Skims, which sells active and loungewear, also raised financing this year at a roughly $4 billion valuation.

Persons: Alo Yoga's, Alo Yoga, Danny Harris, Marco DeGeorge, Alo, Taylor Swift, Katie Holmes, Hailey Bieber, Kendall Jenner, Harris, Dealmaking, Kim, Abigail Summerville, Leslie Adler Organizations: Nike, Wall Street Journal, SoftBank Group Corp, Thomson Locations: U.S, Harris, Los Angeles, athleisure, New York

Oct 26 (Reuters) - GOJO Industries, the maker of Purell hand sanitizer, said on Thursday it would refinance its debt after sources told Reuters that negotiations about the sale of the company to paper and building products manufacturer Georgia-Pacific fell through. The suitor that made the most progress in the sale process for GOJO was Georgia-Pacific, a company owned by Koch Industries, the sources said. Silver Point, Georgia-Pacific and Koch Industries did not immediately respond to requests for comment. The company expanded into skincare and invented Purell, an alcohol-based hand cleaner which dries on its own, in 1988. The company launched Purell in the consumer market in 1997.

Persons: GOJO, Goldie Lippman, Jerry, Clarence Cook, Abigail Summerville, Stephen Coates Organizations: GOJO Industries, Reuters, Silver, Koch Industries, Thomson Locations: Georgia, Pacific, , Georgia, New York

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. Birkenstock is the latest high-profile listing to put investor focus on the initial public offering (IPO) market, which is gradually reopening after two relatively quiet years and a burst of activity in September. Due to recent price hikes, worldwide footwear sales are expected to rise just 2.9% over 2022, according to market research firm Euromonitor International. AllBirds (BIRD.O), Dr Martens (DOCS.L), and On Running (ONON.N) have all seen their market value fall since their IPOs in 2021. "When you look at the trend of other shoe companies that have IPO-ed, it doesn't give a great outlook for Birkenstock," Valechha said.

Persons: Fabrizio Bensch, Birkenstock, Kellogg, Mamta, Cheviot, Valechha, Johann Adam Birkenstock, Barbie, Margot Robbie, Jessica Ramirez, Jane Hali, Siobhan Gehin, Roland Berger, Thomas Hayes, sneaker, Dr Martens, Allbirds, Alexandre Arnault, LVMH, Bernard Arnault, Matt Oguz, Iris, L, Ananya Mariam Rajesh, Helen Reid, Emma, Victoria Farr, Echo Wang, Abigail Summerville, Deepa Babington Organizations: REUTERS, LVMH, New York Stock Exchange, Euromonitor, Associates, Dick's Sporting, Reuters, Partners, Norges Bank Investment Management, Thomson Locations: Berlin, Germany, New York, London, Neustadt, United States, U.S, Cannes, Silicon Valley

Birkenstock believes it can obtain the final sign-off from the U.S. Securities and Exchange Commission even during a shutdown when the financial regulator would operate with only essential staff, the sources said. SEC Chair Gary Gensler said on Wednesday that a shutdown would reduce his agency's staffing to "skeletal" levels, blocking it from approving companies' IPO filings and hindering the agency's ability to respond to any market turmoil. An SEC spokesperson did not immediately respond to a request for comment on Birkenstock's IPO plans. Companies less advanced in their IPO preparations, including healthcare software vendor Waystar, healthcare services firm Brightspring and car-sharing platform Turo, could be affected by a government shutdown. They did not immediately respond to requests for comment.

Persons: Birkenstock, Kevin McCarthy, Gary Gensler, Abigail Summerville, Anirban Sen, Chris Prentice, Echo Wang, Lisa Shumaker Organizations: U.S, U.S . Securities, Exchange, Republican U.S, SEC, Companies, Thomson Locations: Washington, New York

Since then, Unilever has worked to make Elida an autonomous unit that could also appeal in its entirety to private equity firms, the sources added. Morgan Stanley and Evercore have now contacted several parties to gauge acquisition interest in Elida for what could be a multi-billion-dollar deal, according to the sources. Unilever, Morgan Stanley and Evercore declined to comment. This has prompted Unilever, the maker of Dove soap and Ben & Jerry's ice cream, to review its portfolio of non-core assets it can sell to raise cash. Unilever beat underlying sales growth forecasts in the second quarter after raising prices to offset the higher costs.

Persons: Morgan Stanley, Hein Schumacher, Ives, Moussel, Alberto Balsam, Evercore, Abigail Summerville, Richa Naidu, Chizu Organizations: Unilever Plc, Evercore Inc, Unilever, Credit Suisse, Elida, Breyers, Thomson Locations: St, Zwitsal, Elida, Klondike, New York, London

[1/2] Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. Smucker (SJM.N) on Monday agreed to buy Twinkies maker Hostess Brands (TWNK.O) for $5.6 billion including debt in a deal that unites two major American snack makers. The deal was worth about $4.6 billion excluding debt, with Jif peanut butter maker Smucker paying Hostess shareholders $34.25 per share. Campbell Soup's (CPB.N) recent acquisition of Rao's sauce maker Sovos Brands (SOVO.O) represented an adjusted EBITDA multiple of 14.6 times, including run rate savings, and 19.8 times excluding those. Based in Lenexa, Kansas, Hostess was founded in 1930 and is behind several iconic household brands, including Ho-Hos, Ding Dongs, Zingers, and Voortman cookies and wafers.

Persons: Brendan McDermid, Smucker, Campbell Soup's, Smucker's, Campbell, Hostess, Ding Dongs, Dean Metropoulos, Alec Gores, Ananya Mariam Rajesh, Anirban Sen, Abigail Summerville, Dimpal, Savio D'Souza, Shinjini Ganguli, Jason Neely Organizations: REUTERS, Hostess Brands, Reuters, Sovos, JPMorgan, Sovos Brands, Hos, Smucker, Apollo Global Management Inc, Hostess, Thomson Locations: Manhattan, New York City, U.S, North America, Lenexa , Kansas, Ho, Bengaluru, New York

New Era, which makes caps affiliated with the National Football League (NFL), Major League Baseball (MLB) and National Basketball Association (NBA), has invited investment banks and law firms to pitch this month for roles in its stock market debut, the sources said. MLB, the NFL and the NBA hold minority stakes in New Era. The company's earnings before interest, taxes, depreciation and amortization (EBITDA) may reach or surpass $300 million in 2023, the sources added. It was launched in 1954 and customized for select teams in MLB, the NFL and the NBA. Separately, Chris Koch told Bloomberg News on Thursday that New Era had secured a $600 million refinancing loan from banks.

Persons: Kevin R, Wilson, Ehrhardt Koch, Chris Koch, Jim Grundtisch, Jim Patterson, Abigail Summerville, Echo Wang, Anirban Sen, David Gregorio Our Organizations: National Football League, Major League Baseball, National Basketball Association, ACON Investments, MLB, NFL, NBA, Arm Holdings, Ivy League, New, Bloomberg, Thomson Locations: New York, Buffalo , New York, American, New, Echo

☆ C&S, SoftBank near deal to buy stores from Kroger, Albertsons - source
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The deal value and the number of stores included in the transaction could not be immediately learned. C&S lost one of its largest customers, Ahold Delhaize (AD.AS), when the supermarket group decided to transition to self-distribution in 2019. Kroger, Albertsons, C&S and SoftBank did not respond to Reuters' request for a comment. Reuters had reported in February that Kroger and Albertsons were advancing their plans to sell between 250 and 300 stores that they hope will alleviate U.S. antitrust concerns over their combination. In March, the companies reiterated that they would divest some stores to win the regulatory clearance required to go ahead with the merger.

Persons: Ahold, SoftBank, Kroger's, Juby Babu, Anirban Sen, Abigail Summerville, Sherry Jacob, Phillips, Rashmi Organizations: S Wholesale Grocers, SoftBank, Kroger, Albertsons Companies Inc, Reuters, Bloomberg, Albertsons, Federal Trade Commission, Thomson Locations: Pacific Northwest, Southern California, Phoenix, Chicago, Bengaluru, New York

The deal would give privately held C&S, primarily a supplier rather than an operator of grocery stores, a much more significant footprint. The stores that Kroger and Albertsons plan to shed are primarily in the Pacific Northwest and the Mountain states, along with some in California, Texas, Illinois, and the East Coast, the sources said. Bloomberg News reported about the talks between C&S, Kroger and Albertsons on Monday, as well as SoftBank's involvement but gave no information about the deal terms. Previously, Kroger and Albertsons said they may divest between 100 and 375 stores by placing them in a new company that Albertsons shareholders would own. In a regulatory filing Kroger said the upper limit for divestitures was 650 stores.

Persons: Rick Cohen, Cohen, SoftBank, Kroger, Ahold, Anirban Sen, Abigail Summerville, Juby Babu, Sherry Jacob, Phillips, Rashmi Aich, David Gregorio Our Organizations: Kroger, Albertsons Cos Inc, S Wholesale Grocers, Grand Union, Piggly, SoftBank Group Corp, Symbotic Inc, Albertsons, Bloomberg News, Thomson, & $ Locations: Pacific Northwest, California , Texas , Illinois, East Coast, New York, Bengaluru

FILE PHOTO-Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. REUTERS/Brendan McDermidFile Photo Acquire Licensing RightsNEW YORK, Aug 25 (Reuters) - Hostess Brands Inc (TWNK.O), the maker of Twinkies snack cakes, is exploring a sale after fielding takeover interest from major snack food makers, people familiar with the matter said on Friday. General Mills Inc (GIS.N), Mondelez International Inc (MDLZ.O), PepsiCo Inc (PEP.O) and Hershey Co (HSY.N) are among the companies that have shown an interest in acquiring Hostess, the sources said. Hostess has hired investment bank Morgan Stanley (MS.N) for advice on handling the deal negotiations, the sources said. No agreement is certain and Hostess may decide against any deal, the sources added.

Persons: Brendan McDermidFile, Hostess, General Mills, Morgan Stanley, Mills, Ding Dongs, Dean Metropoulos, Alec Gores, Gross, Anirban Sen, Abigail Summerville, Chris Reese, Marguerita Choy Organizations: REUTERS, Hostess Brands Inc, Nasdaq, General, General Mills Inc, Mondelez, PepsiCo Inc, Hershey Co, Hostess, Hershey, PepsiCo, Hos, Apollo Global Management Inc, Thomson Locations: Manhattan, New York City, U.S, Mondelez, New York, Lenexa , Kansas, Ho

These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources familiar with the matter said. The arrangement helped bridge a gap in the valuation expectations between Roark Capital and the DeLuca and Buck families that own Subway, according to the sources. The deal will make Roark Capital one of the largest restaurant operators in the world. Subway said in February it was exploring a possible sale, drawing interest from private equity firms including Roark, Advent International, TDR Capital and TPG as well as Goldman Sachs' asset management arm. Roark and Subway have 12 months to close the deal, which has a 4% breakup fee, sources said.

Persons: Roark, DeLuca, Buck, Jimmy John's, Neil Saunders, GlobalData, Goldman Sachs, Anirban Sen, Abigail Summerville, Deborah Sophia, Arun Koyyur Organizations: Roark Capital, TDR, Sycamore Partners, Brands, Baskin, Robbins, Buffalo Wild Wings, Subway, Advent, TDR Capital, TPG, Thomson Locations: U.S, North America, New York, Bengaluru

Reuters reported on Tuesday on a so-called earn-out agreement that was key to Roark clinching a deal for Subway. Roark prevailed over a rival bidding group led by buyout firms TDR Capital and Sycamore Partners, whose final offer was for $8.75 billion including an earn-out, and $8.25 billion without, the sources said. Roark took the view that the restaurant market is too fragmented for the deal to raise competition concerns, the sources added. Roark and Subway, which announced the deal on Thursday, declined to comment on the terms. Roark currently controls Inspire Brands, the owner of restaurant chains including Jimmy John's, Arby's, Baskin-Robbins and Buffalo Wild Wings.

Persons: Roark, DeLuca, Buck, John's, Jimmy John’s, Jimmy John's, Neil Saunders, Peter Buck, Fred DeLuca, JPMorgan Chase, Sullivan, Cromwell, Weiss, Garrison, Roark Capital, Morgan Stanley, Anirban Sen, Abigail Summerville, Deborah Sophia, Greg Roumeliotis, Marguerita Choy Organizations: Roark, Reuters, Subway, TDR Capital, Sycamore Partners, Inspire Brands, Baskin, Robbins, Buffalo Wild Wings, JPMorgan, Cromwell LLP, Thomson Locations: Connecticut, U.S, Bridgeport , Connecticut, The Milford , Connecticut, Rifkind, Wharton, New York, Bengaluru

A Subway sandwich shop logo is pictured in the Manhattan borough of New York February 14, 2014. These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources said. The Wall Street Journal reported on Monday that Roark Capital was nearing a deal to buy Subway for about $9.6 billion. A spokesperson for Subway declined to comment, while representatives for Roark and TDR did not immediately respond to requests for comment. Roark controls Inspire Brands, owner of the Jimmy John's, Arby’s, Baskin-Robbins, Buffalo Wild Wings, Dunkin’, Rusty Taco and SONIC Drive-In chains.

Persons: Carlo Allegri, Roark, DeLuca, Buck, John's, TDR, Sycamore, Goldman Sachs, Fred DeLuca, Peter Buck, Jimmy John's, Dunkin ’, Rusty Taco, Jimmy John’s, Abigail Summerville, Anirban Sen, Greg Roumeliotis Organizations: REUTERS, TDR, Sycamore Partners, Goldman Sachs, Subway, Street, Roark Capital, Goldman, Inspire Brands, Baskin, Robbins, Buffalo Wild Wings, Thomson Locations: Manhattan, New York, TDR Capital, Bridgeport , Connecticut, The Milford , Connecticut, U.S, Champaign , Illinois

The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. While it was not immediately clear what valuation Tyson Foods is seeking for the China poultry business, it has annual sales of about $1.1 billion, one of the people said. Springdale, Arkansas-based Tyson Foods and Goldman Sachs declined to comment. Calls to Tyson Foods' China headquarters in Shanghai went unanswered. In the food industry, U.S. agricultural giant Cargill struck a deal in May to sell its China poultry business to private equity firm DCP Capital for an undisclosed price.

Persons: Arnd, Goldman Sachs, Tyson, Cargill, Hope Liuhe, Kane Wu, Abigail Summerville, Roxanne Liu, Tom Polansek, Jamie Freed Organizations: Tyson Foods, REUTERS, HONG KONG, Goldman, Capital, Reckitt, Primavera Capital Group, Industrial, Thomson Locations: Davos, Switzerland, HONG, China, Springdale , Arkansas, Shanghai, Russia, Ukraine, Mongolia, Nantong, Xiaogan, Hong Kong, New York, Beijing, Chicago

REUTERS/Paulo Whitaker/file photo Acquire Licensing RightsNEW YORK, Aug 15 (Reuters) - Private equity firm Bain Capital on Tuesday agreed to buy Fogo de Chão, in a deal people familiar with the matter said valued the Brazilian steakhouse chain at about $1.1 billion, including debt. The deal marks a win for private equity firm Rhone Capital, which took Fogo de Chão private for $560 million in 2018. The restaurant chain confidentially submitted paperwork for an initial public offering to regulators in late 2021, the sources said. Earlier in August, the Pollo Tropical restaurant chain was sold to Authentic Restaurant Brands for $225 million. Morgan Stanley & Co LLC is serving as financial adviser to Fogo de Chão and Rhône, while Sullivan & Cromwell served as legal counsel.

Persons: Paulo Whitaker, Rhône, Bain, Burger King, Dunkin, Ellis, Morgan Stanley, Sullivan, Cromwell, Abigail Summerville, Anirban Sen, Jonathan Oatis Organizations: Fogo de Chao, REUTERS, Bain Capital, Rhone Capital, Dunkin ’ Brands Inc, Brands Inc, Benihana, Deutsche Bank, Kirkland, Thomson Locations: Fogo de, Fogo de Chao Brazilian, Sao Paulo, Brazil, Chão, Fogo, Rhone, Southern Brazil, dealmaking, Sandwich, New York

REUTERS/Navesh Chitrakar/File PhotoNEW YORK, Aug 9 (Reuters) - Body Art Alliance is exploring options including a sale that could value the supplier of tattoo and body art products at nearly $1 billion, including debt, according to people familiar with the matter. Representatives for Body Art Alliance and Jefferies declined to comment. Body Art Alliance's move to explore a sale comes amid a global surge in the popularity of body art, especially among the younger generation. The company was launched in 2020 by the founders of four body art companies - FK Irons, Painful Pleasures, NeoMetal and World Famous Ink. It is now affiliated with dozens of global brands that sell tattoo and body art products, which include body ink and piercing equipment, to artists and customers.

Persons: Ravan, Navesh, Jefferies, Abigail Summerville, Leslie Adler Organizations: REUTERS, Alliance, Jefferies, Group Inc, Body Art Alliance, FK Irons, Thomson Locations: Kathmandu, Nepal, Hanover , Maryland, U.S, New York

Logos of Swiss banks UBS and Credit Suisse are seen on an office building in Zurich, Switzerland March 19, 2023. The changes are aimed at producing unified teams following the completion of UBS's emergency takeover in June of Credit Suisse. Under the shake-up some Credit Suisse bankers will take on bigger roles in the combined company while some others leave, the sources said. Matt Eilers, UBS's global head of financial sponsors, is also in talks about possibly leaving, two of the sources said. His co-head would be Christian Lesueur, who has been global head of TMT investment banking, the sources added.

Persons: Denis Balibouse, Sergio Ermotti, Jeff Rose, Jon Levin, Matt Eilers, Rob DiGia, Rose, Levin, Eilers, DiGia, Laurence Braham, Lesueur, Steve Pettigrew, Braham, Neil Meyer, Abigail Summerville, Milana Vinn, David Carnevali, Leslie Adler Organizations: UBS, Credit Suisse, REUTERS, UBS Group AG, Suisse, Reuters, Swiss, Barclays Plc, Bank of America Corp, Barclays, Thomson Locations: Zurich, Switzerland, Americas, Milana, New York

[1/2] The Subway restaurant logo is seen on a napkin in this illustration photo August 30, 2017. Subway expects to fetch well over $9 billion in a deal, and it remains uncertain whether TDR and Sycamore can meet its price expectations, the sources said. Private equity firm Advent International, which had teamed up with Goldman Sachs Asset Management on a bid for Subway, has dropped out of the process, the sources said. Goldman Sachs (GS.N) may decide to team up with one of the other bidders, the sources added. Subway, Roark and TDR did not immediately respond to requests for comment.

Persons: Thomas White, Goldman Sachs, Roark, Jimmy John's, Jimmy John’s, TDR, Fred DeLuca, Peter Buck, Anirban Sen, Abigail Summerville, Nick Zieminski Organizations: REUTERS, TDR Capital, Sycamore Partners, Roark Capital, International, Goldman Sachs, Management, Subway, Bloomberg News, JPMorgan Chase &, Reuters, Thomson Locations: Sycamore, Champaign , Illinois, Milford , Connecticut, Bridgeport , Connecticut, The Milford , Connecticut, U.S, New York

July 26 (Reuters) - The private equity owners of popular emergency contraception pill Plan B, Foundation Consumer Healthcare, have hired advisors to explore options including a potential sale of the company, a person familiar with the matter told Reuters. A sale could value the company at more than $4 billion, the source said, adding that the process is at an early stage. Foundation Consumer Healthcare also owns brands such as Breathe Right nasal strips, Dimetapp, which is a medicine for cough and cold for children and allergy drug Alavert. Foundation Consumer Healthcare or its private-equity owners Kelso & Co and Juggernaut Capital Partners did not immediately respond to a Reuters' request for comment. The report on the potential sale was first reported by Bloomberg News.

Persons: Roe, Wade, Mariam Sunny, Sriparna Roy, Abigail Summerville, Shilpi Majumdar, Arun Koyyur Organizations: Foundation Consumer Healthcare, Reuters, Kelso & Co, Juggernaut Capital Partners, Teva Pharmaceutical Industries, Consumer Healthcare, Bloomberg News, Thomson Locations: United States, Israel, Bengaluru, New York

July 12 (Reuters) - Investment firm Wellington Management is in talks to lead a new funding round for Skims, which could value the underwear clothing company owned by Kim Kardashian at about $4 billion valuation, according to people familiar with the matter. Skims and Wellington did not respond to comment requests. Women's Wear Daily reported on the Skims funding round earlier on Wednesday without naming Wellington. Other investors included D1 Capital Partners, as well as existing investors Thrive Capital, Imaginary Ventures and Alliance Consumer Growth. Kardashian is also actively raising funds for her new private equity firm SKKY Partners, which focuses on consumer and media investments.

Persons: Kim Kardashian, Skims, Kardashian, Carlyle, Jay Sammons, Abigail Summerville, Krystal Hu, Diane Craft Organizations: Investment, Wellington Management, Wellington, Lone Pine Capital, D1 Capital Partners, Imaginary Ventures, Alliance Consumer, SKKY Partners, Thomson Locations: Wellington, Boston, Lone, New York, Austin

NEW YORK, July 6 (Reuters) - Cronos Group Inc (CRON.TO), the Canadian cannabis producer backed by cigarette maker Altria Group Inc (MO.N), confirmed on Thursday it is in talks with potential buyers to explore a sale of the company, after Reuters reported on the talks. In a statement, Cronos said it "is in the initial stages of reviewing these indications of interest." The future of the cannabis industry is uncertain as more favorable regulatory regimes in North America have fueled fierce competition among more companies. For the first quarter, Cronos posted a net loss of $19.3 million, compared with a loss of $32.7 million a year ago. Cronos has total cash, including short-term investments, of about $836.43 million, according to its first-quarter report.

Persons: Cronos, Curaleaf, Altria, Joe Biden's, Anirban Sen, Abigail Summerville, Leslie Adler, Richard Chang, David Gregorio Our Organizations: YORK, Cronos, Altria, Reuters, Curaleaf Holdings, U.S, Thomson Locations: U.S, Toronto, North America, Cronos, New York

NEW YORK, July 6 (Reuters) - Cronos Group Inc (CRON.TO), the Canadian cannabis producer backed by cigarette maker Altria Group Inc (MO.N), is exploring options that include a potential sale after attracting acquisition interest, people familiar with the matter said. Shares of Cronos jumped as much as 25% in Toronto on the news, giving the company a market value of C$1.03 billion ($771.13 million). For the first quarter, Cronos posted a net loss of $19.3 million, compared with a loss of $32.7 million a year ago. Cronos has total cash, including short-term investments, of about $836.43 million, according to its first-quarter report. Altria, which holds a 41% stake in Cronos, invested $1.8 billion in the company in 2019.

Persons: Altria, Cronos, Joe Biden's, Anirban Sen, Abigail Summerville, Leslie Adler, Richard Chang Organizations: YORK, Cronos, Altria, Curaleaf Holdings, U.S, Thomson Locations: Toronto, U.S, North America, Cronos, New York

NEW YORK, July 5 (Reuters) - Family-owned food giant Mars Inc on Wednesday agreed to buy Kevin's Natural Foods, which is known for its sous-vide meals, sauces, and side dishes, the companies said. McLean, Virginia-based Mars, which generates about $48 billion in annual sales, has three major businesses - Mars Petcare, Mars Snacking, and Mars Food & Nutrition. After the deal is completed, Kevin's will operate as a standalone brand under the food and nutrition unit. Mars plans to grow its food business through more potential acquisitions in the near term, said Shaid Shah, global president at Mars Food & Nutrition. McCray launched Kevin's after he was diagnosed with an autoimmune disorder, as he wanted to build a food brand that focused on healthy diets.

Persons: Kevin's, Mars, Canin, Shaid Shah, Shah, Dan Costa, Kelsie Costa, Olson, Kevin McCray, McCray, Simpson Thacher, ArentFox Schiff, Sheppard Mullin, Anirban Sen, Abigail Summerville, Jamie Freed Organizations: YORK, Mars Inc, Mars Food, Nutrition, Mars, Heska Corp, Towerbrook Capital Partners, NewRoad Capital Partners, Unilever, Flagstone Foods, Campbell Soup, Citi, Burling, Wells, Wells Fargo Securities, Thomson Locations: McLean , Virginia, Modesto , California, North America, Bartlett, Covington, Wells Fargo, New York

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