On Friday, 3G Capital, a New York City-headquartered Brazilian-American multibillion-dollar investment firm, had issued a statement saying that it would purchase a majority stake in a Dutch blind and window shutter manufacturer Hunter Douglas in a $7.1 billion deal, marking off 3G Capital’s largest investment since 2015. Besides, according to the financial terms of the deal, 3G Capital, widely known for its investments in food and drink sector though heavy-weight food companies like of Kraft Heinz, would lay off €175 per share to purchase about a 75 per cent stake in Hunter Douglas, marking of a 64 per cent premium taking account of an all-time closing peak of €106.40 a share registered on September 8 last year, while the remaining 25 per cent stakes would be held by the Sonnenbergs, the founding family.
While the company had reported a $3.5 billion in sales in 2021. Followed by the announcement, shares’ prices of Hunter Douglas jumped as much as 70 per cent to €172.70 apiece on Friday pre-market trading.
3G Capital purchases majority stake in Hunter Douglas
In tandem, latest 3G Capital move to acquire a majority stake in Hunter Douglas followed a failed attempt from Sonnenberg family to take the company private at an €82 per share deal.
However, Sonnenbergs’ attempt had botched to witness the daylight amid a sheer lag in supports from major investors. Meanwhile, citing an out and out optimism over the deal, the co-managing director of 3G Capital, Daniel Schwartz said, “3G Capital has deep respect for Hunter Douglas, its diverse portfolio of brands and the steadfast leadership of the Sonnenberg family over three generations. “