Share:
$195 million
Transaction expected to accelerate technology roadmap and fuel growth
ATLANTA and NEW YORK, Dec. 24, 2020 (GLOBE NEWSWIRE) PRGX Global, Inc. (NASDAQ:PRGX), a global leader in recovery audit and spend analytics services, and Ardian, a world-leading private investment house, today announced that they have entered into a definitive agreement for Ardian to acquire PRGX. The transaction is led by Ardian s North America Direct Buyouts team.
Under the terms of the agreement, Ardian will pay PRGX shareholders $7.71 per share in cash for each share of PRGX s common stock they hold, which represents a 32.7% premium to the PRGX volume-weighted average price for the 90 trading days preceding the public announcement of the transaction with Ardian. The all-cash transaction, subject to completion, is valued at approximately $195 million. The members of the PRGX Board of Directors are unanimously in favor of the transaction, which was approved at a special meeting of the
particular story or no nothing special about it, i think it would be next or near impossible, but since we had a unique situation, we were the only ones in the united states that were making flatware, we had a special story to tell. a story to tell consumers and a story to tell themselves. while bankruptcy was nothing they would have wished for, both matt and greg feel they ve come out stronger on the other side. we would rather be strong and profitable than big and clumsy. you don t learn things through successes, you learn when you fail, and we failed a lot over the past seven, eight, nine years, but you dust yourself off and you just keep going. it is fall and that means it s time to put away the rose and break out the cider. over the last few years cider sales have been booming. we met the owners of two small companies who are competing with big brands and they ve decided
fantastic. we could never say something that good about ourselves that anyone would believe, but when one of the best food magazines in the country says that, we re golden. this kind of press not only reaches the consumers but also registers with retailers and distributors. and we started getting calls from distributors all over the country saying, hey, when are you coming to california, texas, washington, pennsylvania because we want to have your cider. greg says his brand survival depends on staying out of the mass market. what we re doing now, they can t do. they ll never do there, so we have a sustainable production advantage that they ll never be able to recreate. and if the market changes dsh so we look at those market changes and we adapt as quickly as possible. cheers. as baby boom joers aers areg
that their size is actually an asset. these look great. you ve got john s, macs, sort of the goldens. greg hall of benville, michigan, is very picky about which apples go into his hard seider. this morning he and peter clyne, the owner of nearby seedling orchard of testing. you can see how they cluster. and tasting. as a seider maker, we re looking for aroma and flavor, acid and tannin from the apple. as an independent brewer greg is part of a small but rapidly growing beverage category, hard site ter, where his virtue cider label has been thriving. three years ago nobody knew where it was. now it s all over tv, all over the supermarkets. no surprise, all this rapid growth has not gone unnoticed by big players in the beer category. greg s now getting stiff competition from big beer brands
it s the most efficient way to get products to the cone summer. sort of like farm to table, this is factory to table. the business owners got a break when the property was sold and leased back to them. they paid up their secured creditors and exited bankruptcy in 2014, but matt and greg want to do even more. our goal is to become so successful that we re able to pay every dime that we ever owed back to everyone. with carol manufacturing out of the woods and liberty tabletop showing signs of success, new investors have provided the capital necessary to expand the brands. we went from eight patterns to about 24 now in four different price points. the good, better, best, lux model. remember the production they had to move to mexico? well, they ve been able to bring that back to the united states, which has strengthened the company s story. if you were just launching the generic brand with no