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☆ Hanesbrands is shopping Champion — and WHP Global, Authentic Brands Group are both interested in buying
▼ + stars: | 2023-11-01 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

Brand management firms WHP Global and Authentic Brands Group are both interested in buying Champion from its parent company Hanesbrands , which is considering offloading the sportswear line amid pressure from activist investors, CNBC has learned. At the time, Hanesbrands said those options could include a potential sale of Champion or another type of strategic transaction. Hanesbrands has seen wide interest in acquiring Champion from a mix of buyers, including WHP and Authentic Brands, according to people familiar with the matter. WHP and Authentic Brands didn't return requests for comment. Goldman Sachs, which has been tapped as Hanesbrands' financial advisor for its review of Champion, declined to comment.

Persons: Hanesbrands, it's, didn't, Goldman Sachs Organizations: Brand, WHP Global, Authentic Brands, CNBC, Champion, Barington Capital Group

☆ Sycamore to take apparel retailer Chico's FAS private for nearly $1 billion
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

Sept 28 (Reuters) - Chico's FAS (CHS.N) will be taken private by Sycamore Partners for $938.1 million in an all-cash deal, the apparel retailer said on Thursday, sending its shares surging 63% in premarket trading. Sycamore is known to bet on retail and consumer investments and has stake in department store operator Belk, discount retailer Dollar Express and mall and web-based specialty retailer Hot Topic. The private equity firm has been trying to acquire Florida-based Chico's since 2015 after it failed to secure acceptable financing terms for its bid. In 2019, Sycamore had offered $407.8 million, which was eventually lowered to $350 million after Chico's financial performance worsened, but the deal was rejected by its shareholders. ..three brands Chico's, White House Black Market and Soma," Chico's CEO Molly Langenstein said.

Persons: Sycamore, Molly Langenstein, Savyata Mishra, Sriraj Kalluvila, Arun Koyyur Organizations: Chico's FAS, Sycamore Partners, Chico's, Belk, Dollar Express, Barington Capital Group, Black, Thomson Locations: Sycamore, Florida, U.S, Bengaluru

☆ Outback Steakhouse owner's stock rises after activist Starboard Value buys stake
▼ + stars: | 2023-08-18 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

An Outback Steakhouse truck sits parked outside a restaurant in New York. Shares of Outback Steakhouse owner Bloomin' Brands rose 7% in morning trading Friday after an activist investor disclosed its interest in the restaurant company. Starboard Value now owns 9.9% of Bloomin's shares, according a regulatory filing. In addition to Outback, Bloomin' also owns Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse and Wine Bar. Starboard Value has a proven track record of successful turnarounds at restaurant companies.

Persons: Bloomin, Jana Partners, Garden's breadsticks, Papa John's, John Schnatter, Jeff Smith Organizations: Fleming's, Wine, Bloomin, Barington Capital Group, Darden Restaurants Locations: New York

☆ Hanesbrands faces pressure from activist Barington Capital Group, which wants to see costs and debt cut
▼ + stars: | 2023-08-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Activist investment firm Barington Capital Group is pressuring Hanesbrands to reduce its costs, generate cash and perhaps pick a new CEO as the apparel maker's market cap shrinks, the firm announced Tuesday. "Further, Hanesbrands' excessive debt burden appears to amplify the impact of poor operating performance on Hanesbrands' ability to create value for shareholders." "HanesBrands' Board actively oversees the development and execution of our strategy, operations and capital allocation decisions, in collaboration with the management team. The Board and management team are deeply experienced in areas relevant to our strategy and portfolio," the company said in a press release. It's not clear how large Barington's stake in Hanesbrands is, and whether it will try to nominate any board members.

Persons: Hanesbrands, Ronald Nelson, James Mitarotonda, Mitarotonda, Barington, It's Organizations: Barington Capital Group Locations: Hanesbrands

Carl Icahn had a textbook strategy for the Nevada-based energy utility Southwest Gas Holdings. In August, Southwest Gas' board decided against a divestiture, and the sale of subsidiaries that Icahn had urged remains uncertain. "Shareholders don't want to hear it, but you really have great difficulty selling a company at a good price today," the widely followed activist investor Icahn told Insider. via CNBCBut, like Icahn in the case of Southwest Gas, participants in this new onslaught may find themselves confounded by an increasingly complex and fraught business environment. According to Lazard, 37% of activist campaigns this year were launched by first-timers, the highest proportion since the company started tracking these figures in 2015.

Carl Icahn had a textbook strategy for the Nevada-based energy utility Southwest Gas Holdings. In August, Southwest Gas' board decided against a divestiture, and the sale of subsidiaries that Icahn had urged remains uncertain. That means that the sale of companies like Southwest Gas is off the table for the time being — or will get done at prices far lower than before. via CNBCBut, like Icahn in the case of Southwest Gas, participants in this new onslaught may find themselves confounded by an increasingly complex and fraught business environment. According to Lazard, 37% of activist campaigns this year were launched by first-timers, the highest proportion since the company started tracking these figures in 2015.

Search resuls for: "Barington Capital Group"

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