Vera Bradley Inc. VRA sales are down . The handbag brand’s largest shareholder, Fund 1 Investments LLC , isn’t happy about it.
A Dec. 30 letter to the board referred to co-founder Barbara Bradley Baekgaard ‘s designs as “iconic” and “synonymous with innovation and disruption for decades." But after the compliments came the critique: Fund 1 takes issue with Vera Bradley’s questionable capital allocation, poor operational performance and a failed brand turnaround, all compounded by tough macroeconomic conditions for fashion brands.
What's the solution, according to Fund 1? A "strategic alternatives process" to explore selling the company to a larger organization or taking it private. Also for sale, as of this week: Imagination Technologies Group Limited , a British semiconductor and software design company owned by private equity firm Canyon Bridge Capital Partners , is up for sale. Lazard is shopping it around, according to Bloomberg .
Skin care startup Minimalist is considering a $350 million deal, TechCrunch reported . On the buy side is Hindustan Unilever Ltd. , which recently purchased Oziva and Wellbeing Nutrition.
Hindustan Unilever's skincare offerings include Dove and Pond's. Jaipur-based Minimalist reported an 89% revenue growth to $40.8 million in fiscal year 2024.
SouthState Corp SSB has finalized its $2 billion stock acquisition of Texas-based Independent Bank Group , potentially signaling a wave of regional bank mergers. Key drivers include regional .
