Demitri Diakantonis

6 hours ago | themiddlemarket.com | Demitri Diakantonis

Burger chain Jack in the Box (Nasdaq: JACK) had big plans for Del Taco when it acquired the franchise for $585 million in 2022. But these plans have since soured, and now Jack in the Box is looking to sell the underperforming taco franchise with the help of BofA Securities. Here’s what went wrong and who could emerge as the buyer. Jack in the Box had high hopes for the business, coming off a year where the subsidiary grossed almost $500 million in sales.

23 hours ago | themiddlemarket.com | Demitri Diakantonis

Holding company Peugeot Invest has invested $125 million in insurance brokerage BroadStreet Partners, joining a consortium led by Ethos Capital that includes British Columbia Investment Management and White Mountains. Founded in 2001, BroadStreet operates across the U.S. and Canada, providing property and casualty insurance and employee benefits. The firm has over $2 billion in revenue and features a co-ownership model involving equity held by more than 800 employees.

1 day ago | themiddlemarket.com | Demitri Diakantonis

Adtech company MNTN, which counts Ryan Reynolds as its chief creative officer, is targeting a valuation of up to $1.24 billion in its upcoming U.S. IPO. The firm and some existing investors plan to raise as much as $187.2 million by selling 11.7 million shares at $14 to $16 each. MNTN helps brands deliver targeted ads on connected TVs and was backed by BlackRock (NYSE: BX) and Fidelity in a 2022 funding round. IPO proceeds will support general corporate purposes.

2 days ago | themiddlemarket.com | Demitri Diakantonis

Robinhood (Nasdaq: HOOD) is planning to acquire Canadian crypto firm WonderFi in an all-cash deal valued at C$250 million (around $179 million), as the brokerage seeks to expand its global presence and deepen its crypto offerings. The deal follows a wave of consolidation in the rebounding crypto industry, Reuters is reporting.

2 days ago | themiddlemarket.com | Demitri Diakantonis

Blackstone Infrastructure Partners is in discussions to acquire TXNM Energy, a utility serving New Mexico and Texas, according to Reuters. Talks are ongoing, and while no deal has been finalized, an agreement could be reached in the coming weeks. Albuquerque-based TXNM, formerly known as PNM Resources, provides electricity to approximately 800,000 homes and businesses. A previous attempt to sell the company to Avangrid fell through after prolonged regulatory hurdles.