Global food conglomerate Mondelez International is reportedly close to acquiring the remaining portion of chocolate brand Hu in a deal that could value the company at about $340 million. Mondelez already owns a minority stake in Hu, which makes paleo chocolate bars and recently launched a line of crackers.
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Alibaba Group Holding and the provincial government of Jiangsu, China, are reportedly close to striking a deal to acquire a majority stake in Suning.com. The major retailer of goods such as electronics and appliances is a unit of Suning, a conglomerate created by Zhang Jindong, who sources say would be removed from control if the deal closes.
Chinese platform Dmall E-commerce is planning to go public with an initial stock offering in the US later this year that could raise around $500 million, sources said. The company is backed by grocery retailer Wumart Group, which is reportedly contemplating its own Hong Kong IPO.
The owner of Japan-based Owndays has begun exploring a sale of the eyewear retailer, which could be valued at about $300 million, sources said. Owndays, which launched in 1989 and today operates 156 stores in Japan and 206 locations throughout Asia and Australia, was acquired by L Catterton Asia Advisors and Mitsui & Co. in 2018.
Department store retailer Belk is reportedly preparing to file for bankruptcy protection with a plan to restructure its debt. The deal, which has not yet been finalized, would give an ownership stake to the North Carolina-based retailer's lenders, sources said.
Global luxury conglomerate LVMH Moet Hennessy Louis Vuitton and Rihanna are in talks to launch a luxury fashion brand, sources say. The singer is known for her trend-setting style sense and signed on as Puma's creative director in 2014.