The Prada Group has finalized its acquisition of Versace for 1.25 billion euros, integrating the iconic brand known for its bold designs into its portfolio alongside Prada’s and Miu Miu’s offerings. This strategic move aims to revitalize Versace’s performance after its tenure under Capri Holdings. Lorenzo Bertelli, Prada heir, will take the helm as executive chairman, overseeing Versace’s integration into Prada’s manufacturing infrastructure, which has seen significant investment in its supply chain. The acquisition is expected to significantly impact revenue distribution within the Prada Group, with Versace, Miu Miu, and Prada accounting for 13%, 22%, and 64% of pro-forma revenues respectively.
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Keurig Dr Pepper will split into two separate entities following an $18 billion deal to acquire the owner of Peet’s Coffee, effectively unwinding their 2018 merger. This strategic move will allow the two resulting companies to better focus on their respective markets: coffee and cold beverages. The combination with Peet’s parent company expands the coffee business’s global presence, while the split allows the beverage company to concentrate on growing categories like energy drinks. The separation is expected to generate cost savings and position each entity for growth, with the deal slated to close in the first half of 2026.
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PepsiCo announced its acquisition of the prebiotic soda brand Poppi for $1.95 billion, a deal anticipated to net $1.65 billion after anticipated cash benefits. This acquisition expands PepsiCo’s presence in the functional beverage market by adding a rapidly growing brand. Poppi, co-founded by Allison Ellsworth, will benefit from PepsiCo’s distribution network to increase its market reach. Despite recent class-action lawsuits regarding its health claims, Poppi has reached a settlement and continues to experience significant growth.
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Elon Musk’s $97.4 billion bid to acquire OpenAI’s nonprofit arm hinges on the organization halting its conversion to a for-profit entity. The court filing stipulates that Musk will withdraw his offer if OpenAI preserves its charitable mission and ceases its sale process. Conversely, if OpenAI continues its for-profit trajectory, the nonprofit arm must receive fair market value compensation. This action follows Musk’s accusations that OpenAI has strayed from its original mission, a claim refuted by OpenAI CEO Sam Altman. The dispute highlights Musk’s long-standing concerns regarding OpenAI’s shift toward profit maximization.
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Just Eat Takeaway, the European meal delivery giant, is selling its US subsidiary Grubhub to Wonder, a restaurant chain led by former Walmart executive Marc Lore, for $650 million. This divestiture comes four years after Just Eat acquired Grubhub for $7.3 billion, seeking to expand its reach into the lucrative US market. The sale marks a retreat for Just Eat, which faced pressure from investors following the decline in pandemic-fueled food delivery demand. Just Eat believes the deal will accelerate its growth and provide Grubhub with a suitable future under Wonder’s leadership. The transaction is expected to close in early 2025, subject to regulatory approval.
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As an employee of Discover, I was shocked to hear the news that Capital One is buying our beloved company in a $35.3 billion deal. This news has left many of us concerned about what the future holds for Discover and its loyal customers. Personally, I have always had positive interactions with Discover and have appreciated their top-notch customer service. Capital One, on the other hand, has not always had the best reputation in that regard.
The thought of Discover being renamed “Capital Two” is disheartening, as it feels like we are losing a unique and trusted brand in the financial industry.… Continue reading
John Q. Hosedrinker