Blackstone's PGP Glass stake draws interest; Compass seeks acquisitions

S&P Global Market Intelligence presents In Play Today, a periodic summary of potential private equity deal activity, including rumored transactions. This summary is based on information obtained on a best-efforts basis and may not be inclusive of all potential deal activity.

– Compass Diversified is seeking acquisitions, according to a transcript of the middle-market private equity firm's fourth-quarter 2023 earnings call. "Our competitors continue to struggle with leveraged buyout financing as a function of the current environment, specifically in consumer. We are seeing our cost of capital advantage significantly expand in this environment, which leads us to believe that now is a great time for us to be an acquirer," CEO Elias Sabo said.

– KKR & Co. Inc. is evaluating the sale of its controlling stake in pharmaceutical company J. B. Chemicals & Pharmaceuticals Ltd., Bloomberg News reported, citing people familiar with the matter. The private equity firm plans to hire financial advisers to look into the sale as potential buyers show interest, the report added.

– CDH Investment Management Co. Ltd. is in talks to acquire a minority stake in grocery chain Bach Hoa Xanh Trading JSC from retailer Mobile World Investment Corp., Thomson Reuters reported, citing two sources with direct knowledge of the matter. CDH aims to acquire a stake of 5% to 10%, the report added.

– Endless LLP is among the potential acquirers for grocer Wm Morrison Supermarkets Ltd.'s bakery business, The Daily Telegraph reported, citing industry sources. Morrison hired Deloitte to explore a sale as it weighs divesting assets to pay down debts, the report added.

– Brookfield Corp., Singapore sovereign wealth fund GIC Pte. Ltd., and Alpha Wave Global LP are each eyeing PGP Glass Private Ltd. as investor Blackstone Inc. weighs a sale of its stake in the glass container manufacturer, The Economic Times reported, citing people familiar with the matter. The potential acquirers are seeking a minimum 50% stake and joint control of the business, the report added.

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