Mon. Nov 28th, 2022

Check out the four latest mergers and acquisition to hit our radar.
Two Austin nonprofits dedicated to reducing hunger and sharing food with those in need are combining.
Keep Austin Fed will absorb Save the Food, cementing a merger that was first discussed last fall.
Financial negotiations were not disclosed but a Sept. 29 announcement said the merger would “combine existing resources, networks and expertise to expand reach and serve more of Austin’s food insecure communities.”
A spokesperson said the combined nonprofit will have five paid employees and 230 volunteers. Keep Austin Fed reported $1,613,616 in contributions and grants and $353,636 in total assets in 2020, the most recent data available on nonprofit tracker GuideStar. Save the Food most recently reported $101,292 in gross receipts and $80,662 in assets, according to GuideStar.
Lisa Barden will continue to lead the combined nonprofit as executive director of Keep Austin Fed and Save the Food founder Allen Schroeder will join the organization.
The nonprofits shared that in 2021, an estimated 190,000-plus Travis County residents, or nearly 15% of the population, experienced food insecurity, while more than 450 million pounds of food went uneaten.
“It’s been an honor to grow Save the Food to this point, and I have great respect for the leadership from Keep Austin Fed. We believe that our organizations can accomplish more together than we can apart, and I look forward to expanding food rescue in Austin,” said Allen Schroeder, founder of Save the Food.
— Will Anderson
Evo Entertainment Group LLC keeps growing. The Austin-based chain of entertainment venues that combine movies, video games and bowling said Sept. 23 it bought Times Square Grand Slam, a similar business in the Northeast Texas city of Tyler.
That boosts Evo to 20 locations in five states. That number will rise further when Evo opens a $20 million entertainment venue in downtown Nashville, a plan announced last week.
Times Square Grand Slam, which spans about 65,000 square feet, fits nicely into the Evo portfolio, which has an average size of about 60,000 to 75,000 square feet.
Evo did not disclose the cost of the acquisition. But the deal was completed with the support of Marbella Interests, the Austin-based family office of energy entrepreneur Bryan Sheffield.
Evo employs more than 1,000 and requires about 125 to 150 employees per location.
The company continues to search for new locations within Texas and across the nations.
— Sahar Chmais
Austin Pallet Company was purchased last month, a deal announced Sept. 23.
Vienna, Ohio-based Millwood Inc. said Austin Pallet, a pallet manufacturer based in Pflugerville, was a good cultural fit. The more than 30 team members from Austin Pallet boosted the Millwood headcount of more than 1,800 nationwide. The company has 34 locations across the country.
Financial terms were not disclosed. Austin Pallet opened in 2018.
— Will Anderson
In a deal that was missed earlier in the month, Austin Woman Magazine has diversified its ownership.
As KXAN News reported, seven prominent women have joined founder Melinda Garvey as co-owners of the monthly publication.
Joining her as owners were Shuronda Robinson, founder and CEO of Adisa Communications, a public relations and marketing firm; Lana Macrum, managing director at J.P. Morgan Private Bank; Lynelle McKay, former CEO of Girl Scouts of Central Texas; Terry P. Mitchell, co-founder of The Black Leaders Collective; Gretel Perera, a public relations executive with Expedia Group Inc.; Ana Ruelas, owner and managing partner at real estate brokerage The Agency; and Neha Sampat, founder and CEO of software company Contentstack.
Financial terms were not disclosed.
Garvey, who started Austin Woman in 2002, will also hand over day-to-day leadership to a new CEO, Robinson, on Jan. 1.
— Will Anderson
For more M&A news, including a $17.7 million buyout for a publicly traded company, go here.
© 2022 American City Business Journals. All rights reserved. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated January 1, 2021) and Privacy Policy and Cookie Statement (updated July 1, 2022). The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of American City Business Journals.

ALSO READ  More Than $9M Bet On Dave & Buster's Entertainment? 3 Stocks Insiders Are Buying - Enviva (NYSE:EVA), Coi - Benzinga


By admin