Jersey Mike’s filed for an IPO, and the Financial Times reported Blackstone is targeting a valuation of up to $12B. CNBC said the sandwich chain has nearly 3,300 locations and reported 50% same-store sales growth in recent years.
Unilever $UL is exploring a bid for Thorne that could value the U.S. supplements maker at up to $4B, according to Financial Times reporting. Thorne is owned by L Catterton and is projected to generate about $650M of revenue this year.
International Flavors & Fragrances $IFF agreed to sell its Food Ingredients business to CVC for about $4.3B, above the $500M Tier-1 M&A threshold. The unit generated nearly $3.1B of 2025 sales and about $430M of EBITDA.
Whirlpool shares fell 20% Thursday after the appliance maker declared the Iran war caused a 'recession-level industry decline' in the U.S. as consumer confidence collapsed in late February and March. Skyrocketing fuel costs are driving demand destruction in large-ticket household goods.
PepsiCo $PEP posted first-quarter revenue of $19.44 billion, above the $18.94 billion LSEG estimate cited by CNBC, and adjusted EPS of $1.61 versus $1.55 expected. Net revenue rose 8.5% as North American foods returned to volume growth after price cuts.