Chuck E. Cheese’s parent company is having another go at the NYSE, through a merger with a special purpose company, making it the first restaurant company to enter the public market in four years.
With the closing of the merger with Leo Holdings, Queso Holdings - which owns CEC Entertainment, the parent company of Chuck E. Cheese and Peter Piper Pizza, is likely to see itself trading again this summer at NYSE with the ticker CEC.
Special purpose companies are asset-less and could only use the proceeds of an IPO to buy and take privately held consumer companies public.
The deal is expected to close in Q2 of 2019 and at the end of which Leo Holdings is planning to rename itself as Chuck E. Cheese Brands, while CEC Entertainment is likely to emerge as a subsidiary of Chuck E. Cheese Brands.
The IPO’s proceeds is likely to go towards paying down CEC’s outstanding debt of $978.9 million as of 30 December 2018.
CEC is expected to have an enterprise value $1.4 billion.In fiscal 2018, the
Under Armour Inc UAA 0.89% announced Monday that it hired Kasey Jarvis as its new chief design officer, replacing longtime designer Dave Dombrow, who focused on mainly footwear development.
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According to the bankruptcy court document, children’s apparel retailer Gymboree has sold itself to its rival Children’s Place.These are yet to be approved by a bankruptcy court.
This is Gymboree’s second bankruptcy announcement in less than two years. Gymboree had filed for bankruptcy protection in January 2019, and said it would close 800 Gymboree and Crazy 8 stores.
Apparel and footwear manufacturer Under Armour (NYSE: UA) has jumped sharply over the past month, gaining over 20% since hitting its recent low on December 24.While the rally was welcomed by investors after the stock dropped almost 33% from December 6 through that low.
The rally could run in to some problems in the coming days as the stock has caught up to its 50-day moving average.
Handbag maker Michael Kors Holdings Ltd. might buy Gianni Versace SpA .
A Bloomberg report said that Michael Kors might announce a deal to purchase Italian luxury fashion company Versace, valuing the latter at about $2 billion - according to people familiar with the matter who did not want to be named.Versace reportedly wants to put itself up for sale, and companies that have shown interest in recent months include Kors, Tiffany & Co., LVMH, PVH Corp. and Tapestry, according to a report on Sunday by Women’s Wear Daily.
No official statement has been given out by either Michael Kors or Versace regarding the acquisition deal, and even people familiar with the matter said that no final agreement has been reached yet.
Adidas is aiming for 2024 to use strictly recycled plastics for all of their products and applications.With such a major goal and dedication to recycled plastic, there is a chance that many other companies will come out and set high expectations for themselves also.