Harry Javer, Producer and Founder of The Lodging Conference, one of the industry’s leading events for Hotel Owners, CEO’s and Deal Makers, announced today that Arne Sorenson, the beloved former President & CEO of Marriott International, has been selected posthumously as the recipient of the 2021 Above and Beyond Lifetime Achievement Award.
Le Pain Quotidien âhad tremendous legacy,â says Aurifyâs John Rigos.
Aurify Brands, the New York City-based operator of five restaurant chains, closed the acquisition last June of Le Pain Quotidien U.S., with about 50 locations, rescuing the stores and their employees from bankruptcy proceedings in a Belgium court.
âThis brand had tremendous legacy,â co-CEO John Rigos said, but it had âlost its way, wasnât being invested in. We realized, just being mediocre wasnât going to cut it, so we started pulling resources together.â
Then in August, the Maison Kayser brand came up for sale, too, a European-style bakery chain, and Aurify bought 12 of its 16 locations and will convert them to LPQ. Rigos decided they needed to play defense on that chain, because if someone else bought it they would be fierce competitors to LPQ.
Citigroup; JPMorgan; Morgan Stanley; Qatalyst Partners; Skye Gould/Insider This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
While M&A had a down year during the pandemic, bankers still orchestrated a number of megadeals.
Insider partnered with the financial-data platform MergerLinks to identify 2020 s top 20 bankers.
The ranking is based lead investment bankers who arranged the largest M&A deals in North America.
For Wall Street s rainmakers, the start of 2020 was a nightmare.
Mergers and acquisitions temporarily went over a cliff in the springtime as the world was met with a series of lockdowns and strict restrictions to confront the spread of the coronavirus. In the dealmaking drought in the first half of the year, global volumes collapsed to $1.2 trillion, a 41% decline from 2019, with megadeals taking the brunt of it, falling 69%, according to data from Ref
While M&A had a down year during the pandemic, bankers still orchestrated a number of megadeals. Insider partnered with financial data and intelligence platform