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Going Private • Consumer Products

Apollo Global Management Acquires Linens ‘N’ Things

On February 1, 2006, asset manager Apollo Global Management acquired consumer products company Linens ‘N’ Things for 1.3B USD

Acquisition Context
  • This is Apollo Global Management’s 2nd transaction in the Consumer Products sector.
  • This is Apollo Global Management’s 31st largest (disclosed) transaction.
  • This is Apollo Global Management’s 9th transaction in the United States.
  • This is Apollo Global Management’s 1st transaction in California.
Investment Fate
  • Linens ‘N’ Things went bankrupt in 2008.
  • Linens ‘N’ Things was sold to a financial buyer in 2009.
  • Linens ‘N’ Things was sold to a strategic buyer in 2013.

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M&A Deal Summary
Date February 1, 2006
Target Linens ‘N’ Things
Sector Consumer Products
Buyer(s) Apollo Global Management
Deal Type Going Private
Deal Value 1.3B USD

Target Company

Linens ‘N’ Things

Sacramento, California, United States
Linens ‘N Things is a retailer and brand of home goods and furnishings.
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Buyer Overview 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

Deal Context for Buyer #
Overall 10 of 152
Sector: Consumer Products 2 of 4
Type: Going Private 2 of 31
State: California 1 of 17
Country: United States 9 of 108
Year: 2006 2 of 4
Size (of disclosed) 31 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-23 Albertsons

Boise, Idaho, United States

Albertsons is a food and drug retailer. Albertsons operates under 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs, as well as meal kit company Plated. Albertsons was formed in 1939 and is based in Boise, Idaho.

Buy $17.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-28 Berry

Evansville, Indiana, United States

Berry is a manufacturer and marketer of plastic packaging products for personal care, household, industrial, and transportation markets. Berry was incorporated in 1967 and is based in Evansville, Indiana.

Buy $2.3B

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