Behind the Money cover image

When M&A goes wrong

Behind the Money

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A responsible business acquisition through debt-free cash-free deal

In the acquisition between Kingswood and Save Mart, there was a sense that Kingswood would be a responsible owner. The deal was structured as a debt-free cash-free acquisition, meaning the buyer only acquires the business and not the existing debt or cash. Kingswood acquired the business, while the Pichonini family received $30 million, concluding the transaction.

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