Latest news with #Cerberus
Reuters
11-07-2025
- Business
- Reuters
Cerberus and Dean Metropoulos also made a bid for WK Kellogg, sources say
July 11 - Private equity firm Cerberus Capital Management, which owns a stake in grocer Albertsons (ACI.N), opens new tab, and billionaire investor Dean Metropoulos teamed up in an unsuccessful bid for cereal maker WK Kellogg (KLG.N), opens new tab, according to three sources familiar with the matter. The consortium, which was being advised by investment banks UBS and Macquarie Capital, ultimately lost out to private, family-owned Ferrero Group, which on Thursday announced an agreement to acquire WK Kellogg for around $3.1 billion. However, the offer from Cerberus and Metropoulos was considered a serious alternative to Ferrero and has caused industry insiders to wonder about a possible future target for the pair, two of the sources said. Both Cerberus and Metropoulos have histories of investing in the food industry. WK Kellogg, Cerberus, UBS and Macquarie declined to comment. Metropoulos & Co did not immediately respond to a comment request. Dealmaking in the food space has picked up steam in recent months as owners focus on core names and offload underperforming brands. There has been a relatively steady supply of buyers for these divestments, aiming to turn around their fortunes. Cerberus is the top shareholder in grocery chain Albertsons, but it has not made a big bet on a consumer or retail company in years. Its offer for WK Kellogg shows the firm still has a desire to invest in the sector, the sources said. Meanwhile, the investment firm of Greek-American billionaire Metropoulos - Metropoulos & Co - acquired Nestlé Waters North America in partnership with One Rock Capital Partners in 2021. The firm is known for making investments in numerous consumer names, including Hostess Brands, Utz and Pinnacle Foods. Kellogg split into two in 2023, creating WK Kellogg to house cereal brands and Kellanova (K.N), opens new tab to house its other brands. M&M's owner Mars agreed to buy Kellanova for $36 billion last year.
Yahoo
11-07-2025
- Business
- Yahoo
Cerberus and Dean Metropoulos also made a bid for WK Kellogg, sources say
By Abigail Summerville -Private equity firm Cerberus Capital Management, which owns a stake in grocer Albertsons, and billionaire investor Dean Metropoulos teamed up in an unsuccessful bid for cereal maker WK Kellogg, according to three sources familiar with the matter. The consortium, which was being advised by investment banks UBS and Macquarie Capital, ultimately lost out to private, family-owned Ferrero Group, which on Thursday announced an agreement to acquire WK Kellogg for around $3.1 billion. However, the offer from Cerberus and Metropoulos was considered a serious alternative to Ferrero and has caused industry insiders to wonder about a possible future target for the pair, two of the sources said. Both Cerberus and Metropoulos have histories of investing in the food industry. WK Kellogg, Cerberus, UBS and Macquarie declined to comment. Metropoulos & Co did not immediately respond to a comment request. Dealmaking in the food space has picked up steam in recent months as owners focus on core names and offload underperforming brands. There has been a relatively steady supply of buyers for these divestments, aiming to turn around their fortunes. Cerberus is the top shareholder in grocery chain Albertsons, but it has not made a big bet on a consumer or retail company in years. Its offer for WK Kellogg shows the firm still has a desire to invest in the sector, the sources said. Meanwhile, the investment firm of Greek-American billionaire Metropoulos - Metropoulos & Co - acquired Nestlé Waters North America in partnership with One Rock Capital Partners in 2021. The firm is known for making investments in numerous consumer names, including Hostess Brands, Utz and Pinnacle Foods. Kellogg split into two in 2023, creating WK Kellogg to house cereal brands and Kellanova to house its other brands. M&M's owner Mars agreed to buy Kellanova for $36 billion last year.
Yahoo
11-07-2025
- Business
- Yahoo
Cerberus and Dean Metropoulos also made a bid for WK Kellogg, sources say
By Abigail Summerville -Private equity firm Cerberus Capital Management, which owns a stake in grocer Albertsons, and billionaire investor Dean Metropoulos teamed up in an unsuccessful bid for cereal maker WK Kellogg, according to three sources familiar with the matter. The consortium, which was being advised by investment banks UBS and Macquarie Capital, ultimately lost out to private, family-owned Ferrero Group, which on Thursday announced an agreement to acquire WK Kellogg for around $3.1 billion. However, the offer from Cerberus and Metropoulos was considered a serious alternative to Ferrero and has caused industry insiders to wonder about a possible future target for the pair, two of the sources said. Both Cerberus and Metropoulos have histories of investing in the food industry. WK Kellogg, Cerberus, UBS and Macquarie declined to comment. Metropoulos & Co did not immediately respond to a comment request. Dealmaking in the food space has picked up steam in recent months as owners focus on core names and offload underperforming brands. There has been a relatively steady supply of buyers for these divestments, aiming to turn around their fortunes. Cerberus is the top shareholder in grocery chain Albertsons, but it has not made a big bet on a consumer or retail company in years. Its offer for WK Kellogg shows the firm still has a desire to invest in the sector, the sources said. Meanwhile, the investment firm of Greek-American billionaire Metropoulos - Metropoulos & Co - acquired Nestlé Waters North America in partnership with One Rock Capital Partners in 2021. The firm is known for making investments in numerous consumer names, including Hostess Brands, Utz and Pinnacle Foods. Kellogg split into two in 2023, creating WK Kellogg to house cereal brands and Kellanova to house its other brands. M&M's owner Mars agreed to buy Kellanova for $36 billion last year.
Belfast Telegraph
07-07-2025
- Business
- Belfast Telegraph
Nama Trial ends: What's next for Jamie Bryson and Daithí Mckay?
All three had repeatedly denied the charges. The charges relate to controversy following the sale of Nama's Northern Ireland portfolio. Nama, the so-called bad bank created by the Irish government to deal with the toxic loans of bailed-out lenders during the economic crash, sold its 800 Northern Ireland-linked properties to investment fund Cerberus for £1.2 billion. Jamie Bryson made headlines in 2015 when he used privilege in a finance committee meeting to claim that then first Minister Peter Robinson was benefiting from the sale of the portfolio. Robinson said the claim was 'without one iota' of evidence. Judge Gordon Kerr KC said he was satisfied that Mr Bryson, who has ambitions of pursuing a career as a barrister, had lied under oath in the trial – allegations he strongly denies. How did the trial unfold and what's next for the Nama story? Olivia Peden is joined by Belfast Telegraph Journalist Liam Tunney, who has followed the trial extensively.
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Business Standard
03-07-2025
- Business
- Business Standard
Private credit deals gaining momentum in India, says Cerberus MD Ghosh
The market is warming to large private credit deals in India, where local borrowers are typically less levered than their peers in the rest of Asia, according to Indranil Ghosh, managing director and head of pan-Asia special situations at Cerberus Capital Management. Cerberus, which has $65 billion under management globally, was among the anchor investors in Shapoorji Pallonji Group's $3.4 billion financing, the country's largest private credit deal to date. While deals of that scale are still a rarity, growing capital needs and relatively low leverage are building lenders' confidence in financing larger Indian deals, Ghosh said. Deals this year are already picking up. KKR Inc. inked its largest ever credit investment in India with a $600 million financing for conglomerate Manipal Group. And Indian clean energy producer Greenko Energy Holdings signed a $650 million private credit deal to buy back a stake in the company. Even three years ago, seeing multiple Indian deals larger than $100 million would've been unthinkable, Ghosh said. 'We expect this trend to continue as Indian companies have significant capital needs,' said Ghosh. A major draw for global investors like Cerberus has been Indian companies' balance sheets. On average the loan-to-value ratio among Indian private credit borrowers, which measures the size of a financing against its collateral, is about 40 per cent, Ghosh said. 'In the rest of Asia, and even in developed markets, the gauge would be over 60 per cent,' he added. Lower ratios give investors confidence they'll be repaid if borrowers are required to sell assets. Shapoorji's deal, for instance, closed at a loan-to-value ratio of about 16 per cent, one of the key factors that attracted global lenders like Ares Management Corp and Farallon Capital Management. Despite the market's growth, deal sizes in India, and Asia more broadly, still pale in comparison to more established private credit markets in the US and Europe. The region only accounts for about 7 per cent of the global market, according to a March PwC report, and lenders still tend to focus on smaller, higher-yielding or distressed deals. A rush of new local private credit funds setting up shop in India see this as an opportunity. Motilal Oswal Financial Services is opening its first private credit fund, and Kotak Alternate Asset Managers Ltd. has plans to raise as much as $2 billion, targeting returns between 18 per cent and 20 per cent. Even the government is piling in — with India's quasi-sovereign fund, the National Investment & Infrastructure Fund, planning to raise as much as $2 billion in its latest private credit fund, backed by global investors including the Abu Dhabi Investment Authority. The Trump administration's tariffs could also be a tailwind for India, as several asset allocators are 'increasingly exploring ways to diversify' into other parts of the global economy, said Ghosh. Challenges Remain Ghosh said he could see some asset quality issues for small- and mid-sized corporates with cyclical businesses or governance issues, but he does not anticipate any imminent large-scale defaults in Indian private credit. That's because most of the larger deals are backed by high-quality sponsors with strong assets and access to multiple sources of liquidity, he said. 'Indian large and mid-sized companies have significantly raised their governance standards when compared to 10 years ago,' he said. But when deals do go south, the avenues for resolution in India can be a deterrent to global capital. India technically limits corporate insolvency proceedings to 330 days, but the courts and lenders have grappled with perennial delays.
