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Weekly Digest January 19

Weekly M&A Digest A curated selection of transactions and deals from the past week. Would you like to see more deals from a specific industry? Contact us to request recent transactions from our deal professionals.

Deal Summary

Planet Fitness to acquire Sunshine Fitness Growth Holdings

Planet Fitness, Inc. (NYSE: PLNT), franchisor and operator of fitness centers, announced the acquisition of Sunshine Fitness Growth Holdings, LLC, an owner and operator of more than 100 Planet Fitness clubs in Southeast United States, for $800 million. "We are excited to announce the acquisition of Sunshine Fitness, one of our best-performing franchisees in the system, with locations that will provide geographic diversity to our current corporate store portfolio and that are in markets with a long runway for future store development…Owning corporate stores is an important part of our strategy, as it gives us both relevancy and credibility when making decisions that impact the entire system. Additionally, joining our corporate team is a management team that has built some of the highest store-level profit-generating locations in our system, which will enhance our corporate store leadership and capabilities." - Chris Rondeau, Planet Fitness' CEO.

Monster Beverage to acquire CANarchy Craft Brewery

Monster Beverage Corporation (NASDAQ: MNST), an energy drink beverages company, announced the acquisition of CANarchy Craft Brewery Collective LLC, a craft beer and hard seltzer company, for $330 million. The transaction will bring the Cigar City, Oskar Blues, Deep Ellum, Perrin Brewing, Squatters, and Wasatch brands to the Monster beverage portfolio. However, the transaction does not include CANarchy's stand-alone restaurants. "This transaction provides us with a springboard from which to enter the alcoholic beverage sector…The acquisition will provide us with a fully in-place infrastructure, including people, distribution and licenses, along with alcoholic beverage development expertise and manufacturing capabilities in this industry." - Hilton Schlosberg, Monster's Vice Chairman.

The Toro Company to acquire The Intimidator Group

The Toro Company (NYSE: TTC), a provider of professional and residential equipment worldwide, announced the acquisition of The Intimidator Group, a company that designs and manufactures Spartan Mowers, a professional line of zero-turn mowers known for exceptional performance, durability, and distinctive styling. Sold through an established dealer network, Spartan Mowers has strong brand recognition in southern regions of the United States, appealing to rural markets and large acreage customers. Intimidator Group also designs and manufactures an attractive line of powerful and versatile side-by-side utility vehicles that perform well in the toughest terrains.

Aernnova to acquire Embraer industrial plants in Évora, Portugal

Aernnova Aerospace S.A., a manufacturer and seller of aerostructures and components for OEMs, announced Embraer industrial plants' acquisition in Évora, Portugal from Embraer Metálicas Embraer Compósitos industrial units, for $170 million. Under the terms of the partnership, Aernnova assumes the operation of the industrial plants in Évora at the same time as it signs a supply agreement to secure current production packages for Embraer aircraft.
"We are pleased to announce this partnership with Aernnova, a world renowned supplier in the aerostructures segment, which will allow for increasing the occupation level of the factories in Évora, to diversify its client base and to bring new business opportunities," - Francisco Gomes, Neto Embraer's President and CEO.

The transaction is expected to close during the first quarter of 2022, subject to customary closing conditions.

1-800-FLOWERS.COM to acquire Alice's table

1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a provider of flower gifts, announced the acquisition of Alice's Table, a lifestyle business offering fully digital and highly curated live streaming floral, culinary, and other unique experiences. This expansion reflects the Company's strategic focus on developing immersive experiences, engaging content and interactive events, and embracing entrepreneurial concepts that help deepen relationships with customers and create a real sense of community.
"I am so proud of this tremendous moment of growth for the Alice's Table brand...The 1-800-FLOWERS.COM, Inc. team has given us such incredible support over the past two years in helping us bring best-in-class virtual experiences to people coast-to-coast. This next phase in our relationship will allow us to expand our reach to millions of new customers and to deliver more of the next generation experiences our guests have come to love." – Alice Lewis, Alice's table President

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