The report below presents you with a good overview on the third quarter M&A activity in the Hospitality & Leisure Industry Sector. M&A activity for North American based target companies in the Hospitality and Leisure sector for Q2 2018 included 70 closed deals, according to data published by industry data tracker FactSet.
One of the notable middle market transactions was announced in June when a private group led by MLB Advanced Media LP and The Seidler Co LLC, doing business as Seidler Equity Partners acquired Rawlings Sporting Goods Co, Inc., a subsidiary of K2, Inc. and ultimately owned by Newell Brands, Inc. for US$395 million. The acquisition complements MLB Advanced Media LP’s brands in the sports industry and strengthens The Seidler Co’s investment portfolio. Founded in 1887, Rawlings Sporting Goods is located in St. Louis, Missouri and manufactures & markets sports equipment and apparel.
The Restaurant Performance Index (RPI), a monthly composite index that tracks the health of and the outlook for the U.S. restaurant industry, posted a modest decline in Q2. The RPI stood at 101.2 in May, down slightly from April’s level of 101.3.
- Total US revenue for accommodation fell 2.2% in the first quarter of 2018 compared to the previous year.
- US tourism spending on traveler accommodations, an indicator for lodging revenues, increased 3.9% in the third quarter of 2017 compared to the same period in 2016.
Posted by David Hulett.