Beyond Meat reportedly hired investment banks for an IPO, according to people familiar with the matter. Sources claim the plant-based protein company hired J.P Morgan, Goldman Sachs and Credit Suisse…CNBC (Oct. 17).
The UK’s Competition And Markets Authority will widen its investigation into Sainsbury’s planned merger with Asda to take account of the rapid rise of Aldi and Lidl. The authority will include the two discount retailers as well as non-grocery competitors such as B&M, Amazon and John Lewis & Partners…BBC (Oct. 16).
Postmates Inc. reportedly interviewed banks for roles on an IPO, which is expected to take place in the first half of 2019, according to people familiar with the matter. In September, Postmates raised $300 million in a financing round led by Tiger Global Management at a valuation of nearly $1.2 billion, reported The Wall Street Journal (Oct. 16).
Sears Holdings Corp. filed for Chapter 11 bankruptcy and will close 142 unprofitable stores near the end of 2019. Additionally, the company created an office of the CEO comprised of executive officers at the company to handle the duties of CEO Edward S. Lampert, who will depart from the role.
For the full story, go to this week’s Food Institute Report.
[Editor's note: OFW Law Principal Attorney Michael J. O'Flaherty provided this blog piece regarding the need for federal oversight regarding the ongoing trend of class action lawsuits filed against food companies regarding product labeling.]read more
Chris focuses on fresh, canned and frozen fruit and fresh and dried vegetables for the Food Institute Report. In addition, he assists in compiling data for various Food Institute publications throughout the year. He is a proud Rutgers University alumnus with a degree in English, and has a background in web writing for a variety of industries, including legal, foodservice and small-to-medium sized businesses. In his downtime you can find him watching New York Yankees baseball, hiking, enjoying live music and spending time with his dog Kaiden. He invites you to contact him via email at firstname.lastname@example.org to talk about anything food-related.
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