M&A; Watch: Peerless, Burgess-Manning, Landry's, MSSR, PPR, Brioni, C&C;, Hornsby's
Tuesday, November 08, 2021 1:28 PM



Some noticeable M&A for today are discussed below.

PMFG Buys Germany’s Burgess-Manning

PMFG, Inc. (Nasdaq: PMFG) announced that’s its wholly owned subsidiary Peerless Europe Ltd. has acquired Germany based Burgess-Manning GmbH, for a purchase price of 4 million euros or 5.5 million dollars. Burgess held an exclusive license to throughout Germany and surrounding European countries to manufacture and sell custom engineered solutions, under the Burgess-Manning trademark.

Landry’s to Acquire Seafood Restaurant Chain for $8.75 Per Share

Landry's Restaurants, Inc (NYSE:LNY) announced of an agreement to buy McCormick & Schmick's Seafood Restaurants, Inc. (NASDAQ:MSSR ) for $8.75 a share in cash tender offer. The price represents about  30 percent premium to the closing price of MSSR share on November 7, 2011. Landry’s already hold 10.1 percent stake in MSSR.

France Luxury Group PPR to Acquire Brioni

France-based luxury goods group PPR (EPA: PP) announced acquisition of Italy based menswear brand Brioni  to accelerate its geographic expansion in strong growth markets. Financial details of the deal were not disclosed, though it is rumored to be around $450 million.

C&C has Acquired U.S.’s Number Two Cider Brand

Irish Co. C&C Group Plc (ISE: GCC), has acquired U.S.‘s second largest cider brand Hornsby’s , for a cash consideration of up to 20 million euros from E&J Gallow Winery. The company will initially pay 16.4 million euros and will pay remaining 3.6 million euros after the evaluation of the company’s performance up to FY 2012.

 

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