M&A Deal Summary

GP Investments Acquires Corelle Brands

On April 19, 2016, private equity firm GP Investments acquired consumer products company Corelle Brands from W Capital Partners for 566M USD

Acquisition Highlights
  • This is GP Investments’ 2nd transaction in the Consumer Products sector.
  • This is GP Investments’ largest (disclosed) transaction.
  • This is GP Investments’ 2nd transaction in the United States.
  • This is GP Investments’ 1st transaction in Illinois.
Investment Fate
  • Corelle Brands was sold to a consortium of financial buyers in 2017.
  • Corelle Brands merged with another company in 2019.

M&A Deal Summary
Date 2016-04-19
Target Corelle Brands
Sector Consumer Products
Buyer(s) GP Investments
Sellers(s) W Capital Partners
Deal Type Secondary Buyout
Deal Value 566M USD
Advisor(s) Morgan Stanley (Financial)
Latham & Watkins
Davis Polk & Wardwell (Legal)

Target

Corelle Brands

Rosemont, Illinois, United States
website
Corelle Brands LLC is a manufacturer and marketer of bakeware, dinnerware, kitchen and household tools, rangetop cookware and cutlery products. Corelle Brands LLC and its affiliates manufacture and market products worldwide through a portfolio of well-recognized and respected brands, including under the Pyrex®, Corelle®, Corningware®, Snapware®, Chicago Cutlery®, Revere®, Visions®, Ekco® and Baker's Secret® trademarks. Corelle Brands LLC and its affiliates employ approximately 3,000 people, and have major manufacturing and distribution operations in North America and Asia-Pacific regions. Corelle Brands LLC was incorporated in 1991 and is based in Rosemont, Illinois.

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Buyer(S) 1

Buyer

GP Investments

Sao Paulo, Brazil

website

Category Private Equity Firm
Founded 1993
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GP Investments is a publicly-traded private equity group that targets opportunities in Latin/South America. GP targets mature businesses in traditional industries with revenues greater than $60 million (US). Prospective transaction situations include consolidations, non-core divestitures, acquisitions of family-owned businesses, recapitalizations, and restructurings. The Firm prefers control positions when pursuing transactions. GP will not invest in start-ups and avoids tech-related or biotech companies. GP was formed in 1993 and has offices in Bermuda and Sao Paulo, Brazil.

DEAL STATS #
Overall 9 of 10
Sector (Consumer Products) 2 of 2
Type (Secondary Buyout) 1 of 1
State (Illinois) 1 of 1
Country (United States) 2 of 3
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-15 BR Towers

Sao Paulo, Brazil

BR Towers offers telecom tower sharing solutions that help driving mobile communication in Brazil. BR Towers works with experienced professionals that come from a highly qualified background in telecommunications. BR Towers is based in Sao Paulo, Brazil.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-27 Magnesita

Sao Paulo, Brazil

Magnesita is a producer of refractory material in Latin America and supplying products and services to the steelmaking, cement and glass industries on a global basis. Magnesita is based in Sao Paulo, Brazil.

Sell -

Seller(S) 1

SELLER

W Capital Partners

Investor Investor Investor Investor Investor

website

Category Secondary Investor
Founded 2001
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

W Capital Partners is a private investment group focused on direct secondary investments. W Capital Partners has a particular interest in growth equity secondary investments as well as buyout minority secondary investments, where existing shareholders are looking for liquidity. W Capital Partners is based in New York City.

DEAL STATS #
Overall 7 of 18
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 2 of 6
State (Illinois) 1 of 2
Country (United States) 7 of 16
Year (2016) 1 of 3
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-15 First Data

Atlanta, Georgia, United States

First Data is a provider of electronic commerce and payment solutions for merchants, financial institutions and card issuers. First Data was formed in 1989 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 Ping Identity

Denver, Colorado, United States

Ping Identity engages in Identity Defined Security for the borderless enterprise, allowing employees, customers, and partners access to the applications they need. Protecting over one billion identities worldwide, the company ensures the right people access the right things, securely and seamlessly. More than half of the Fortune 100, including Boeing, Cisco, Disney, GE, Kraft Foods, TIAA-CREF, and Walgreens, trust Ping Identity to solve modern enterprise security challenges created by their use of cloud, mobile, APIs, and IoT. Ping Identity was formed in 2016 and is based in Denver, Colorado.

Sell -
Mergr

Product

Company

Legal