Making the news with Gallaher

Article Abstract:

The successful management buyout (MBO) of Gallaher's Retail Division of Gallaher went against recent trends and confounded those who believe MBOs cannot compete in an auction situation. Gallaher is the UK holding company of US tobacco and spirits firm American Brands, and the sale included cigarette kiosk, drinks vending machine, and confectionery, tobacco and newspaper retailing businesses. The Jan. 1995 MBO succeeded because of factors including a competitive offer; a quality management team; and flexible financial backing. The new firm is called TM Group Holdings.

Vending industry, Vending machines industry, Gallaher Group PLC, TM Group Holdings

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MBIs: A question of leadership

Article Abstract:

The number of UK management buyout (MBO) deals decreased slightly in 1997, with total value increasing by 21%. The number of management buy-ins (MBI) increased by 11% in 1997 with total value increasing by 43% in 1997, reflecting the importance of auction sales. Pan-European and UK committed finance rose to 8 billion pounds sterling in 1997, which is expected to alter the way venture capitalists finance the market in future. The key to success will be the most productive management buy-in teams working closely with venture capitalists to gain the best deals.

Mergers & Acquisitions, Acquisitions and mergers, Venture capital companies

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Doing a deal on the high street

Article Abstract:

The Electra Fleming fund and the management team were successfully able to buyout Deutsche Woolworth for Deutschmarks 950 million in Sept 1997. The new management have increased the number of own-brand goods in the 357 stores whilst cutting the quantity of different products for sale. Woolworths in the US had a $495 million loss in 1994. As a consequence the company decided to improve the quality of their shops before considering the disposal of the stores. Woolworths in Germany recorded a loss of 39 million deutschmarks in 1994.

Retail Store Chains, Germany, Investment companies, Chain stores, Company Profile, Electra Fleming, Deutsche Woolworths

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