M&A Deal Summary

Sainsbury Acquires Star Market

On July 12, 1999, Sainsbury acquired retailer Star Market from Investcorp for 482M USD

Acquisition Highlights
  • This is Sainsbury’s 1st transaction in the Retail sector.
  • This is Sainsbury’s largest (disclosed) transaction.
  • This is Sainsbury’s 1st transaction in the United States.
  • This is Sainsbury’s 1st transaction in Idaho.

M&A Deal Summary
Date 1999-07-12
Target Star Market
Sector Retail
Buyer(s) Sainsbury
Sellers(s) Investcorp
Deal Type Add-on Acquisition
Deal Value 482M USD

Target

Star Market

Boise, Idaho, United States
Star Market Company a major supermarket chain in the greater metropolitan Boston area.

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Buyer(S) 1

Buyer

Sainsbury

London, United Kingdom
Category Company
Founded 1869
Sector Retail
Employees171,000
Revenue 32.7B GBP (2024)
DESCRIPTION

Sainsbury today operates over 1,203 supermarkets and convenience stores and employs around 117000 colleagues. Sainsbury was founded in 1869 and is based in London, the United Kingdom.

DEAL STATS #
Overall 1 of 3
Sector (Retail) 1 of 3
Type (Add-on Acquisition) 1 of 2
State (Idaho) 1 of 1
Country (United States) 1 of 1
Year (1999) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 Homebase

Milton Keynes, United Kingdom

Homebase is an operator of home improvement and garden retailer. Homebase delivers an established and scalable platform with stores that are the right size for the UK market and support warehouse merchandising and a low cost operating model. Homebase was founded in 1979 and is based in Milton Keynes, United Kingdom.

Sell £750M

Seller(S) 1

SELLER

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.

DEAL STATS #
Overall 10 of 106
Sector (Retail) 5 of 7
Type (Add-on Acquisition) 2 of 46
State (Idaho) 1 of 1
Country (United States) 8 of 62
Year (1999) 2 of 3
Size (of disclosed) 20 of 43
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-06-01 Avecia Biotechnology

Milford, Massachusetts, United States

Avecia is an international specialty chemicals manufacturer. At the time of the Cinven acquisition, it comprised multiple divisions. Five of those divisions, Stahl, Performance Intermediates, Neoresins, Fine Chemicals and Pharmaceuticals and Electronic materials have been sold to date. The remaining business is the Biotechnology division, encompassing the Biologics and DNA manufacturing activities.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-20 Falcon Building Products

Chicago, Illinois, United States

Falcon Building Products, Inc. is a manufacturer and supplier of engineered building products.

Sell $240M
Mergr

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