Consumer Retail

PAI Partners' Acquistion of Innovad Group

By Alvaro Aguilar De Nalda and Giuseppe Leonardo Mazza (ESADE); Diana Usova and Oliver Cedar (Bristol University) Photo: Adi Goldstein (Unsplash) Overview of the deal Acquirer: PAI Partners Target: Innovad Group Implied Equity Value: N/A Total Transaction Size: N/A Closing Date: Expected 1Q-2026 Target Advisor: N/A Acquirer Advisor: N/A PAI Partners’ acquisition of Innovad Group represents a notable transaction in the global animal health and nutrition space, taking a

Feb 13

TriArtisan Capital Advisors, Treville Capital Group and Yadav Enterprises' $620m Acquisition of Denny's

By Haci Eren Sidar, Mustafa Arda Sis, Muthu Ramanathan, Josh Lai (University of Nottingham); Alvaro Aguilar De Nalda (ESADE) Photo: Siyuan (Unsplash) Overview of the deal Acquirer: TriArtisan Capital Advisors, Treville Capital Group and Yadav Enterprise Target: Denny’s Implied Equity Value : US$321.8 billion Total Transaction Size: $620 million (cash consideration, Enterprise Value) Closing Date: Q1 2026 (expected) Target Advisor: Truist Securities (financial), Morgan,

Jan 19

Kimberly-Clark's $48.7bn Acquisition of Kenvue

By Roman Annan, Sophie Zhang, Joey Zhang, and Amani Dhillon (Columbia University), Rasmus Sjögren, Nikolas Kakona, Alexander Henje Scott, and Haris Jasarevic (Stockholm School of Economics) Photo: Khuc Le Thanh Danh (Unsplash) Overview of the deal Acquirer : Kimberly-Clark Corporation Target : Kenvue Inc. Implied Equity Value : $40.32 B Total Transaction Size : $48.7 B Closed date : H2 2026 (Estimated, legal issues pending) Target advisor : Centerview Partners LLC & Goldman

Jan 12

Heineken's $3.2bn Acquisition of FIFCO

By Haci Eren Sidar, Mustafa Arda Sis, Muthu Ramanathan, Josh Lai (University of Nottingham); Rasmus Sjögren, Alexander Henje, Haris Jasarevic, Nikolas Kakona (Stockholm School of Economics) Photo: Stella de Smit Overview of the deal Acquirer: Heineken N.V. Target: Florida Ice and Farm Company S.A. (FIFCO) – beverage, food and retail businesses (Distribuidora La Florida and related operations) Total Transaction Size: $3.2 billion (cash consideration, Enterprise Value) Close

Nov 20, 2025