FS Investments

Blackstone Products, the Market Leader in Outdoor Griddles, to Become a Publicly Traded Company Through a Business Combination With Ackrell SPAC Partners

Retrieved on: 
Thursday, December 23, 2021
Finance, Food, Beverage, Home Goods, Retail, Professional Services, Myers, Sale, Prospectus, LLC, Lifestyle brand, Investment, Private Securities Litigation Reform Act, Friends, Acquisition, Intellectual property, Barclays Capital Inc. v. Theflyonthewall.com, Inc., Nomura, Charcoal, U.S. Securities and Exchange Commission, Failure, Movement, Risk, Family, Food, Cooking, Proxy, White space, SEC, Walmart, Lunch, Company, Social media, Nasdaq, CAGR, Sidley Austin, Person, DE, Phrase, Breakfast, EBITDA, Income, Growth, Education, Form, Industry, Review, LLP, Awareness, Note, PIPE, Passion (emotion), Retail, Fast food, Risk management, Security (finance), Financial services, Amazon, Blackstone Products, Ackrell SPAC Partners I Co., FS Investments, BLACKSTONE PRODUCTS, ACKRELL SPAC PARTNERS I CO., FS INVESTMENTS

The combined company is expected to be led by Roger Dahle, Founder and Chief Executive Officer of Blackstone.

Key Points: 
  • The combined company is expected to be led by Roger Dahle, Founder and Chief Executive Officer of Blackstone.
  • Driver of New Product Development Blackstone is continuously driving category innovation with a strong pipeline of products and features.
  • Significant White Space for Growth Blackstone has attractive future growth prospects driven by strategic initiatives, such as increasing market penetration and expanding internationally.
  • The business combination implies a pro forma enterprise valuation for Blackstone of $900 million, or approximately 11.1x 2022 estimated adjusted EBITDA.

Church’s Chicken Completes $250 Million Securitization Issuance

Retrieved on: 
Friday, November 5, 2021
Professional Services, Retail, Restaurant, Bar, Other Professional Services, Finance, Food, Beverage, Honey, Securities Exchange Act of 1934, Restaurant, BBB, Clinton Street Baking Company & Restaurant, Safety, Securities Act of 1933, VFN, Instability, Ill, Swiss cheese model, Person, Class, Health, Education, CEO, Ownership, Technology, Barclays, Income, Growth, COVID-19, SEC Rule 144A, Facebook, Advertising, Sale, Twitter, LR, Acquisition, Food, Chicken, Note, Food safety, Investment, Marketing, Regulation, Employment, Security (finance), Risk management, Financial services, Professional Services, Retail, Restaurant, Bar, Other Professional Services, Finance, Food, Beverage, Church’s Chicken®, High Bluff Capital Partners, FS Investments, CHURCH’S CHICKEN®, HIGH BLUFF CAPITAL PARTNERS, FS INVESTMENTS

This transaction was structured as a whole business securitization through five special purpose subsidiaries (the Co-Issuers) and represents Churchs third whole business securitization issuance.

Key Points: 
  • This transaction was structured as a whole business securitization through five special purpose subsidiaries (the Co-Issuers) and represents Churchs third whole business securitization issuance.
  • The Offered Notes received a rating of BBB from Kroll Bond Rating Agency, consistent with the rating for Churchs previous whole business securitization issuance (which closed in 2017 and was refinanced concurrently with the acquisition of Churchs).
  • Having shown remarkable resiliency over the course of the pandemic through the outstanding efforts of our team members and franchisees, Churchs Chicken is moving forward with tremendous momentum, said Joe Christina, CEO of Churchs Chicken.
  • Church's (along with its sister brand Church's Texas Chicken inside the Americas and Texas Chicken outside the Americas) has more than 1,500 locations in 26 countries and international territories.