Three M&A Deals Fetch Billion Dollar Offers

​Three M&A deals valued companies over a billion dollars last week: Blackhawk Network Holdings, Spectrum Brands’ battery segment, and La Quinta’s hotel segment all fetched valuations of roughly $2 billion or more.

• Blackhawk Network Holdings (NASDAQ: HAWK) announced it has entered into a definite agreement to be taken private in a $3.5 billion leveraged buyout by Silver Lake Management and P2 Capital Partners. The company operates a leading prepaid payment network, utilizing proprietary data to offer businesses and consumers prepaid products.

• Energizer Holdings (NYSE: ENR) has agreed to purchase the Global Batteries & Appliances segment of Spectrum Brands (NYSE: SPB). The $2 billion cash transaction is expected to close by the end of the year.

• Wyndham Worldwide (NYSE: WYN), an operator of hotels in the US, will acquire the hotel franchise and management business from La Quinta Inn and Suites (NYSE: LQ) for $1.95 billion. The transaction will add nearly 900 locations to Wyndham’s portfolio of brands, which include its own Wyndham brand as well as Ramada, Days Inn, and Super 8.

• Nomad Foods (NYSE: NOMD), maker of Bird’s Eye, Iglo, and Findus seafood and vegetables, has agreed to acquire Goodfella’s Pizza for approximately €225 million (roughly $266 million US dollars). Goodfella’s manufactures both branded and private label frozen pizzas for customers in the UK and Ireland.

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• JBS will sell its Five Rivers Cattle Feeding unit for approximately $200 million to Pinnacle Asset Management via its financial sponsor, Dyal Capital Partners. Fiver Rivers Cattle Feedlot operates 11 feedlots and has a total feeding capacity of roughly 980,000 head. Five Rivers will continue to supply JBS after the transaction.