Consumer/Retail

Bessemer Investment Partners LLC said March 27 that it acquired KorMex Foods Inc. Financial terms weren’t announced. MAS Restaurant Group LLC, the Bessemer platform that owns the KorMex assets, operates 73 Taco Bell restaurants, including two co-branded KFC and six co-branded Pizza Hut Express locations, in Houston and surrounding markets.

Carlyle Group said March 25 that it completed a tender offer to buy a 49 percent stake in Orion Breweries while Nomura Capital Partners Co Ltd will own a 51 percent stake. Orion Breweries, of Japan, produces and distributes alcoholic beverages and soft drinks. Its main product is the Orion beer brand.

Ferrero and Hostess Brands are lead contenders to buy Kellogg’s Keebler, Famous Amos and fruit snacks business, CNBC is reporting. A sale could value the brands at $1.5 billion, the story said.

YFM Equity Partners said March 26 that it invested in Frescobol Carioca. Financial terms weren’t announced. Frescobol is a luxury men’s resort wear and lifestyle brand.

OpCapita said March 25 that agreed to buy a majority of Maurices. The transaction has an enterprise value of $300 million. Ascena retail group inc, the parent, is retaining a stake. Maurices, of Duluth, Minnesota, is a specialty hometown retailer that aims to bring affordable, versatile, and flattering clothing to women in small towns across the U.S. and Canada. PJ Solomon provided financial advice to OpCapita, while Clifford Chance US LLP acted as it its legal counsel. Guggenheim Securities is financial adviser to ascena and Proskauer Rose LLP is serving as its legal counsel.

ACON Investments acquired JD Beauty Co. and will merge the company with Goody Products, Inc., which ACON purchased in August 2018. ACON acquired JD Beauty from Topspin Partners. ACON is building a multi-platform, diversified haircare platform. Jeffrey Davidson, CEO of JD Beauty, will become CEO of the combined platform.

Kroger Co said March 19 that it agreed to sell its Turkey Hill business to Peak Rock Capital. Financial terms weren’t announced. Peak Rock has agreed to continue operating the Turkey Hill business out of its Conestoga, Pennsylvania facility with its nearly 800 associates and under the same Turkey Hill brand.

Ares Management and Crescent Capital Corp are taking control of Savers LLC, a for-profit thrift-store chain, from Leonard Green & Partners and TPG, Bloomberg is reporting. Ares and KKR are backing about $590 million of funded debt, according to a restructuring agreement cited by the story. Ares and Crescent are injecting $165 million in cash and would collectively hold a controlling stake in the company, Bloomberg said. Savers plans to complete the deal out of court within the next two weeks but is prepared to file for bankruptcy protection, the story said.

Black Dog Venture Partners said March 18 that it acquired a 10 percent stake in Chronic Internet. Financial terms weren’t announced. Chronic Internet, a holding company, owns a portfolio websites focused on the cannabis industry without the direct sale of any cannabis products.v

TorQuest Partners has acquired Delta, British Columbia-based Prepac Manufacturing Ltd, a maker of ready-to-assemble home furniture sold through online retailers. No financial terms were disclosed. Steve Simpson, founder of Prepac, will also retain a significant investment in the business and sit on the board of directors. Prepac President Jim Mathison and the senior management team, will continue to run the company.