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M&A Report: YieldStreet, E & J Gallo and Papa Murphy’s In The News

In keeping with our mission to provide comprehensive advertising analysis, the MediaRadar puts together a report of the most important mergers and acquisitions news each week. Stay in the loop, whether you sell advertising space or focus on business development.

This week, YieldStreet moves into the art finance market with its acquisition of Athena Art Finance Corp., E & J Gallo Winery moves to bring new consumers into the wine category and Papa Murphy’s gets acquired by MTY Food Group, Inc.

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YieldStreet Acquires Athena Art Finance

YieldStreet, a wealth management company focused on accredited investors, announced that it has acquired Athena Art Finance Corp. from They Carlyle Group for $170 million. Athena is a global financial service provider founded in 2015; the company specializes in providing loans to art dealers, collectors and museums and galleries. YieldStreet’s businesses are built on non-traditional and alternative investments in areas with strong returns, adding Athena will allow it to expand into the global art finance market, worth $20 billion annually.

E & J Gallo Winery Buys Low-End Wine Brands from Constellation

E & J Gallo Winery, one of the largest in the United States, acquired over 30 wine brands from Constellation Brands. The low-end wine brands, including Clos du Bois, Mark West, Black Box and ravenswood tend to sell for $11 or less at stores. Taken together, they accounted for 40 percent of Constellation’s wine and spirits sales last year. The sale positions Constellation to focus on premium products that will generate higher margin and business growth. In turn, E & J Gallo will use the low-cost wine brands to attract new consumers to the wine category.

Fast Food Group MTY Acquires Papa Murphy’s

The Vancouver based Papa Murphy’s Holdings Inc. has entered into a definitive agreement to be acquired by MTY Food Group Inc. for an estimated $190 million. This acquisition comes at a time when MTY is looking at expanding its U.S. restaurant portfolio — made up of outlet staples like Baja Fresh and Pinkberry — into more differentiated options.  This deal is expected to close at the end of the second quarter in 2019.

In other news

The independent music creator Audio Network has been officially acquired by the British studio Entertainment One in a deal worth $215 million, bringing fresh music production to eOne’s catalog.

American Media CEO David Pecker announced that the company’s tabloid publications the National Enquirer, the Globe and the National Examiner are up for sale. No serious buyers have stepped forward since Becker made his announcement.

After two major mergers in the payment processing industry, analysts at MoffetNathanson believe Global Payments and Total System Services could be one of the next fintech companies on the table for a merger. Global e-commerce platforms are growing rapidly because of consumer’s increasing demand for convenience in digital payments.