99 Cents Only in $1.6 billion buyout
COMMERCE, CALIF. — Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors — including its founding family, Ares Management and Canadian Pension Plan Investment Board — for $1.6 billion in cash.
The announcement ends a months-long sales process, which started with a takeover offer from Leonard Green & Partners in March.
The Gold/Schiffer family, which founded the company almost 30 years ago, will roll over its 33% stake into the newly private company. The family members and other existing management will stay on to run the company, which operates 298 stores.
“We have come to know and respect Ares Management and C.P.P.I.B. through this process, and we believe they will be excellent partners and help us achieve our long-term goals as a company,” Eric Schiffer, CEO, 99 Cents, said in a statement.
Joint Juice acquires Premier Nutrition Brand
SAN FRANCISCO — Joint Juice on Wednesday announced its acquisition of the Premier Nutrition Brand. Terms of the deal were not disclosed.
“With the acquisition of the Premier Nutrition brand, we are now actively competing in the large and growing sports nutrition and weight-loss category," stated David Ritterbush, Joint Juice CEO. "What is especially exciting about the brand is the wide breadth of consumers who purchase high-quality protein products, ranging from sports enthusiasts to dieters to healthy, busy people. We believe that our company can build upon the success that Premier Nutrition has created and continue to introduce these great products to more consumers.”
Founded in 1997, Premier Nutrition offers several lines of high-protein nutrition products, including ready-to-drink shakes, bars, powders and cookies.
Premier Nutrition offers the Premier Protein shake, Premier Protein bar, Premier Protein 100% whey isolate powder, Titan high protein bar, Titan high protein cookie and Premier Nutrition shot. Products can be found at Costco, Sam’s Club and select grocery and specialty stores in the United States and Canada, the company stated.
Head & Shoulders spokesman Troy Polamalu immortalized in wax at Madame Tussauds
CINCINNATI — Procter & Gamble’s Head & Shoulders has announced that, for the 2011 NFL season, Troy Polamalu and his iconic hair will be immortalized in wax at Madame Tussauds, which displays waxworks of notable figures.
Polamalu, who has been growing his hair for nearly a decade to honor his Samoan roots, is marking his third year as a spokesman for Head & Shoulders.
The life-sized wax figure of Polamalu, called “Legendaryous Troy,” was unveiled this week in New York City. It was noted that Legendaryous Troy sports almost double the amount of hair than any other wax figure ever created to replicate Polamalu’s full and thick mane. Head & Shoulders also has revealed that the figure will be visiting football fans during several tour stops in early 2012.
“We are proud to kick off the third year of partnership with Troy Polamalu in the most Legendaryous way — celebrating his iconic mane as it becomes immortalized by Madame Tussauds,” stated April Anslinger, brand manager of Head & Shoulders at P&G. “With each passing year, the partnership with Troy Polamalu and the National Football League has become bolder and more humorous, but, most importantly, it has helped build a stronger connection with our male target and destigmatize that Head & Shoulders is just for dandruff.”
Legendaryous Troy begins a three-month residency at Madame Tussauds New York that will culminate in January. The figure then will begin a tour of NFL sporting events and broadcast studios, during which he’ll share news on his experiences and whereabouts via the Head & Shoulders for Men Facebook page and on Twitter. Fans are encouraged to track Legendaryous Troy’s adventures online, suggest places they would like to see him visit and register for the Legendary 7 Contest, with prizes including a trip to SB XLVI. Legendaryous Troy’s tour will wrap up at Super Bowl XLVI in Indianapolis next February.