Large Cap / Food, Beverage, & Tobacco / Food & Staples Retailing
Sara Lee Acquisition, Sale Announced
On January 3, 2012, Sara Lee Corp. (NYSE: SLE) announced it has acquired Tea Forté, a Massachusetts-based leader in the ultra-premium tea category, for an undisclosed sum. Tea Forté posted revenues of $12 million in 2011. CoffeeTeaCo will retain the current management team of Tea Forté to run the business independently before integrating it into its international coffee and tea operations. On the same date, Sara Lee also announced completion of the sale of the majority of its North American Foodservice coffee and tea operations to The J.M. Smucker Company in an all-cash transaction. The two companies have also entered into a licensing and support agreement to cooperatively develop liquid coffee technologies to drive long-term growth.
Read More Purchase Recommendation Updates
Identify & Profit from Distressed Investing
Turnaround Investing Blog
In nearly every case, the shares of a company in bankruptcy become worthless. In very rare cases, however, they can become great investments. W.R. Grace (NYSE:GRA) shares produced a 75-fold return, as an example. With California utility PG&E (NYSE:PCG) now in bankruptcy, the range of possible outcomes for its equity is wide.
EV/EBITDA: What Is It & Why Are We Using It More?
In reading recent editions of The Turnaround Letter, you have probably noticed that we are increasingly using EV/EBITDA as a valuation measure, rather than the better-known price/earnings multiple. We thought it might be useful to describe this measure and why we like it.
Turnaround Letter Stock Pick Named Top Performer of 2017
What Last Year's Top Stock Pickers Are Buying in 2018
This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.
George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."
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