Reimann family behind acquisition
JAB Holdings, the family-controlled investment group of the Reimann family, among the wealthiest individuals in Germany, has announced the acquisition of the US bakery and sandwich chain Panera Bread for a cool $7.5 billion.
According to the Financial Times, JAB is almost entirely owned by four of the nine adopted children of Albert Reimann. “He gave equal stakes in the company to his children but Wolfgang, Stefan, Renate and Matthias bought out their other siblings. According to Forbes’ billionaire list, their combined wealth is more than $16 billion,” said an FT report.
The announcement comes just a few days after a Swiss-based group called TBG acquired the weather information provider DTN for $900 million. TBG is an investment vehicle of the Thyssen-Bornemisza family. TBG stands for the Thyssen-Bornemisza Group.
Cohen’s family office backs startup
Steven Cohen’s family office Point72 has backed a Canadian startup called Street Contxt, which is hoping to disrupt the investment banking research model. Street Contxt is also backed by Joe Lonsdale, founding partner at 8VC, a San Francisco-based venture capital fund.
New Indian family office to launch
Sandeep Aggarwal, a serial Indian entrepreneur, who has backed a number of successful startups in the past, says he plans to set up a family office to channel his investments in the future. According to the Economic Times article, the office is expected to be launched in May.