7-Eleven, the home of the Big Gulp, has paid an undisclosed amount for Buffalo, N.Y.-based convenience store chain Wilson Farms. 7-Eleven is buying the chain from the WFI Group, which is led by buyout firm Bruckmann Rosser Sherrill & Co. and the Nanula family, which together have managed the stores since 2005. No terms of the deal were released. 7-Eleven is based in Dallas.
Air Lease Corp., an aircraft leasing company backed by Leonard Green & Partners, Ares Management and Wilbur Ross’s WL Ross & Co., raised $802.5 million in its initial public offering, Reuters reported. The company sold 30.3 million shares, for $26.50 each, which was more than expected. Air Lease had planned to sell 25 million shares for $25 to $28 each, Reuters wrote. The company is based in Los Angeles, and will use the proceeds to complete roughly $6.8 billion in aircraft purchases.
The Carlyle Group portfolio company Insight Communications Co. is expecting a first round of bids in the next two weeks, as the company gears up to sell itself, Reuters reported. Insight Communications is the ninth-largest cable operator in the U.S., and an auction is expected to fetch between $3.5 billion and $4 billion. The Blackstone Group, BC Partners, CVC Capital Partners, Hellman & Friedman and Kohlberg Kravis Roberts & Co. are widely expected to participate, Reuters wrote.
Cineplex Entertainment will pay roughly $3.3 million to buy Toronto-based New Way Sales Games Ltd, a distributor and supplier of arcade games. Cineplex is buying the company from investors Roynat Capital and Knight’s Bridge Capital Partners. The deal is expected to close in late May.
Cognetas will sell German marketing firm Commarco to advertising giant WPP, Reuters reported. Financial terms of the deal were not released. Cognetas has been trying to sell three German firms to draw to a close a €1 billion ($1.4 billion) fund it raised in 2001, Reuters reported. Rothschild advised it on the sale of Commarco.
Copenhagen-based food firm Danisco is urging its shareholders to accept a newly raised $6.64 billion takeover big from DuPont, Reuters reported. The cash offer was raised by 5 percent. Danisco’s biggest shareholder, Danish pension insurance group ATP—which owns 5.1 percent of the stock—said it would accept DuPont’s new offer, Reuters reported. Other shareholders include SEB Asset Management, which owns about 2 percent of Danisco’s stock.
The private equity owners of German outdoor apparel and equipment maker Jack Wolfskin decided not to sell the company after failing to attract high enough offers, Reuters reported. Barclays Capital and Quadriga Capital had hoped to attract more than 800 million euro for the company, Reuters reported. Some bidders had offered to pay north of €600 million, Reuters said.
Clothing company JonesGroup is among the bidders for private-equity-backed shoe maker Jimmy Choo, Reuters reported, citing a piece by Dow Jones. Bahrain-based Investcorp and Germany’s Labelux Group have made a joint offer for Jimmy Choo, Reuters said, while U.S. private equity firm TPG Capital is also in the process, according to the Dow Jones report. Buyout firm TowerBrook Capital Partners bought Jimmy Choo in 2007.
Momentive Performance Materials Holdings, a chemical manufacturer owned by Apollo Management, has filed to raise up to $862.5 million in an initial public offering, Reuters reported. Apollo owns about 89.5 percent of Momentive. GE Capital Equity Investments Inc. owns about 8.9 percent of the company. Momentive makes thermosets, silicones and silicone derivatives and has more than 104 manufacturing facilities.
Nordic Capital has exited its 44 percent stake in Danish ambulance service group Falck, selling to the Lundbeck Foundation, the owners of the Lego company, and Falck management, Reuters reported. Terms of the deal were not released. The Lundbeck Foundation, which controls Danish drugmaker Lundbeck, raised its stake in Falck to 58 percent from 36 percent. KIRKBI, a holding company of the Kristiansen family that owns the Danish toymaker Lego, becomes the second-biggest shareholder, with a 20 percent ownership, Reuters wrote.
German broadcaster ProSieben, which is owned by buyout shops Kohlberg Kravis Roberts & Co. and Permira, has sold its Belgian and Dutch assets to a consortia led by Finnish media group Sanoma, Reuters reported. The company will use the proceeds of the $1.8 billion sale to pay down debt. Cleaning up its balance sheet is seen as a precondition to a potential exit by KKR and Permira, Reuters reported.
Publicly traded Solera Holdings Inc. will pay $520 million to buy Explore Information Services, a provider of database insurance technologies and e-government applications owned by Altegrity Inc., which is principally owned by Providence Equity Partners. BofA Merrill Lynch acted as financial adviser on the deal.
A TowerBrook Capital Partners portfolio company, the luxury shoemaker Jimmy Choo, is mulling a £650 million ($1.08 billion) initial public offering in Hong Kong, Reuters reported, citing a piece in the Financial Times. A group of bidders is already vying for the shoemaker, with private equity group TPG Capital, U.S. clothing maker JonesGroup and a consortium of Bahrain-based Investcorp and Germany’s Labelux reportedly bidding in the auction’s second round due in mid-May, Reuters wrote.
Vinum Capital Management, a private equity management company focused on the wine industry, has backed the acquisition of the Buena Vista Carneros winery by Boisset Family Estates. Boisset bought the winery from Ascentia Wine Estates and Entertainment Properties Trust. Terms of the deal were not released. Vinum Capital said that it facilitated the financing and structuring of the transaction.