Fortress Investment Group Merger

Founded in 1998 as a private investment firm, Fortress Investment Group LLC is a highly diversified global investment management firm that is based out of New York City. Their services include investing and managing private equity funds, hedge funds, real estate related investments, debt securities, and other publicly traded alternative investment vehicles.

Led by founders Wesley Edens, Rob Kauffman, and Randal Nardone, Fortress Investment Group launched prior to the financial crisis in February of 2007, as the first private equity firm in the United States to begin to trade publicly.

Shortly after its launch to trade publicly, Fortress rapidly expanded into hedge funds and real estate investments and securities, which were overseen by Michael Novogratz and Pete Briger. Between 1999 and 2006 Fortress’s private equity funds had netted 39.7%, though the public aspect of the company would not result in being so lucrative.

In 2015, after continuing to struggle with its hedge fund business, Fortress announced that it would be shutting down its macro fund after it had been continuing to struggle with its performance. They announced that all of the capital would be returned to investors by the end of the year, and that Michael Novogratz, who had been with Fortress since 2002, would be retiring as well, also at the end of 2015.

In February of 2017 Fortress hit major news headlines again when word of its acquisition was announced. SoftBank Group Corp., a Japanese telecommunications giant founded by Masayoshi Son, announced that it would be merging with Fortress Investment Group, under which SoftBank and its subsidiaries would acquire Fortress for $3.3 billion, paid in cash. The acquisition was finally completed on December 27th, 2017 with SoftBank under the advisory of JP Morgan, and Morgan Stanley advising Fortress.

As a result of Softbank acquiring Fortress, “…each outstanding Fortess Class A share was converted so that each shareholder would receive $8.08 per share in cash…” (SoftBank Group Corp), demonstrating the nearly 75% decline in stock since its debut on the New York Stock Exchange in February of 2007, where it was at $18.50 per share. The proceeds of the mergers were distributed ‘…in accordance to the procedures that were outlined in Fortress’s Definitive Proxy as of June 7th, 2017” (SoftBank Group Corp), and learn more about Fortress Investment Group.

Approval of the transaction by Fortress’s shareholders was recorded on July 12th, 2017 alongside the receipt of all necessary regulatory approvals, and the merger agreement was unanimously approved by a committee of Fortress’s board of directors.

Privy to the terms of the contract, Fortress agreed to become an independent subsidiary of SoftBank, continuing to be headquartered in New York. It will also carry on being led by the “Fortress Principals” Peter Briger, Wes Edens, and Randy Nardone. The restructuring of the company will return them back to the private sector of the industry, allowing Fortress’s leaders Peter Briger and Wes Edens to now focus on their strengths as private fund managers. They will be overseeing about $70.1 billion in assets as a subsidiary of SoftBank, allowing them the opportunity to leave behind the headache of running a publicly trading company. As leaders of a public company, it was critiqued that they had struggled to really strengthen their stock in comparison to their competitors within the public sector, but in contrast many of their private equity funds had produced substantial returns over the years, and read full article.

As we exit the first few months after the completion of the merger, with the pressure of public trading off of their shoulders, there are high hopes that the company can continue to succeed in the realm that they have been proven to thrive in.

“SoftBank Group Completes Acquisition of Fortress Investment Group | Press Release.”SoftBank Group Corp, News: Press Releases, 28 Dec. 2016, www.softbank.jp/en/corp/news/press/sb/2017/20171228_01/.

David Mc Donald At OSI Group

David McDonald is a bachelor’s degree holder in Animal Science from Lowa state university. He is a member of the board of North American Meat Institute, president and thus the Chief operating officer of OSI Group. He once worked as the project manager for the same company. From 2008 he has been one of the directors at Marfrig Global Foods when the company merged with OSI group. David McDonald is also the director of OSI international Foods of Australia.

OSI Group is a well-known supplier of processed proteins such as pizza, sausage among other products in the world. It operates in over fifteen countries including China. It has launched a couple of processing plants in China under David McDonald’s leadership. in his term the company has managed to advance Poland’s beef- producing industry and other projects like the frozen beef factory on India and a modernized Mill.

While at OSI Group the company managed to obtain Badoh food in the year 2016. This win was significant in the company’s growth because it made its operations wide. The demand for the products in the company increased with the obtainment. David McDonald said that the win would sustain the company in the worldwide competition. He played a significant role in the acquisition by creating a reliable relationship between the international representatives and the local representatives of the company, and what David knows.

During an interview with CEOCFO David McDonald said that the vision of the company since it’s inception remains the same that is to be the leading international food supplier all over the world to several big companies. The aim of the OSI Group up is to serve their customers well. They should always aim to enhance and increase what they give to the markets. He said that this is achieved by ensuring that both parties have their needs met with integrity and equality. The trust, openness and being patient with each other have been established over the years, and https://www.bloomberg.com/research/stocks/private/person.asp?personId=51539307&privcapId=6868578.

The company has also achieved a lot by making the needs of their customers come first. The decisions are made with several market conditions including the geographical location and the products valued by the customers in those areas. David McDonald also says that the customers have also been behind their innovations. Their needs have inspired the company to be innovative. The desire to improve as a company is also another inspiration. He said that the primary responsibility of the company is food safety, and read full article.

Entrepreneur Joel Friant and his Inspiration

The spice and flavor of the Original Habanero Shaker are nearly indiscernible from the spice and flavor of a fresh habanero pepper. The shaker provides the classic heat and taste of habanero peppers to any meal, either at home or on the go. The high capsaicin levels of the shaker have been said to provide a feeling of pleasure and a number of other benefits.

 

The man behind the Original Habanero Shaker, Joel Friant, conceived of the idea for his flagship product while operating his first restaurant. The fast-food joint, opened in 1995, specialized in Thai cuisine, and thus it served spicy dishes. Joel was searching for a habanero shaker to place on the tables of his restaurant. He wanted his customers to be able to add even more spice to their meals. Unfortunately, every habanero shaker Joel found was bland and had little spice. He decided to create his own habanero shaker and set out to find the perfect type of habanero chili pepper to use.

 

He stumbled across the Scotch Bonnet habanero in Jamaica and decided to use it in his formula. Joel put the peppers through a process that dried and flaked them, but did not remove their natural levels of heat or their wide flavor panel. Unlike other shakers on the market, Joel decided to use only 100 percent pure habanero flakes in his bottles. Other shakers use fillers like salt and sugar, but Joel felt that these fillers detracted from the true flavor of the habanero chili pepper.

 

Joel sold the Original Habanero Shaker in Washington State at first, but he soon decided it should go global. In 2012, after spending a few years studying the ins and outs of internet marketplaces, Joel launched a website for the Original Habanero Shaker. H continues to receive international orders daily.