Content about Acquisition

NEW YORK — Target is looking to compete with the likes of Netflix and Hulu with a video-streaming service it is beta testing with employees, according to published reports.

The Minneapolis-St. Paul Business Journal reported that the mass merchandise retailer was testing Target Ticket, which currently offers access to 15,000 movies and TV shows. Features of the new service include parental controls, streaming and downloading for playback on desktop computers and mobile devices.

MADISON, Wis. — Oscar Mayer announced this week the addition of five new hot dog innovations featuring bacon, sausage, chicken breast, lean and extra lean varieties available this summer.

Beginning in June, consumers nationwide will be able to purchase two Oscar Mayer hot dogs perfect for the summer grill, including the Bacon Dog and Smokies Smoked Sausages.

Cider may be the most exciting new segment in the beer category. A recent report from Mintel indicated that in the United Kingdom, the market penetration of cider is now equal to lager.

LAKE SUCCESS, N.Y. — Hain Celestial Group, the company that makes Celestial Seasonings tea and other products, has purchased organic baby food company Ella's Kitchen Group, the company said.

Financial terms of the deal were not disclosed, but the company said Ella's had $70 million in sales last year. The company markets its products in the United States, United Kingdom and Scandinavia, offering 80 products for babies, toddlers and small children. In addition, Ella's founder Paul Lindley will become CEO of Hain Celestial US's new Global Infant, Toddler and Kids Division.

PARSIPPANY, N.J. — Drug maker Actavis has acquired rights to a treatment for an experimental bacterial vaginosis from Valeant Pharmaceuticals International for about $55 million, the drug makers said Wednesday.

Actavis Specialty Brands' acquisition of Valeant's metronidazole vaginal gel is in the 1.3% strength. The deal includes an upfront payment, milestone payments and royalties for the first three years after the drug is commercialized. Actavis hopes to market the drug as early as the middle of next year.

NEW YORK — A proposal by Canadian drug maker Valeant Pharmaceuticals International to purchase generic drug maker Actavis has fallen through, according to published reports.

According to reports, Valeant was planning to pay more than $13 billion in stock to acquire Actavis, but the deal was put on hold because the companies could not agree to terms of the deal. The deal would create a company worth about $35 billion.

It's official. During its most recent quarterly conference call with analysts, CVS Caremark revealed what many had anticipated: Its acquisition of privately held Brazilian drug store chain Drogaria Onofre was complete.

The move is not financially material to CVS Caremark, but it does mark its first foray into the international drug store space. The 44-store chain is the eighth-largest drug store chain in Brazil and, according to published reports, posted gross revenue of R$1.2 billion (Brazilian reals) in 2011.

SAN BERNARDINO, Calif. — A former executive of Supervalu has been tapped for a top position at Stater Bros. Markets, the supermarket chain said.

Stater Bros. announced that former Supervalu EVP retail operations Peter Van Helden had been hired as president and COO of the privately owned San Bernardino, Calif.-based chain, which operates 167 stores in San Bernardino and Riverside counties.

WASHINGTON — The Council for Responsible Nutrition on Monday named six new members, including Aurora Algae, Nature’s Sources, Reckitt Benckiser, Sirio Pharma, Watson and international member JJ Health.    

British conglomerate Reckitt Benckiser recently acquired Schiff Nutrition, marking the entry of a new major CPG player into the dietary supplement space. Reckitt Benckiser now markets several supplement brands including Digestive Advantage, MegaRed and Schiff Move Free. 

CLEVELAND — American Greetings greeting card company has agreed to be taken private by a group led by some of its top executives for about $602 million, the company announced today.

The executive group was formed by the Weiss family — including chairman Morry Weiss; CEO Zev Weiss; director, president and COO Jeffrey Weiss and others — and will buy the shares of the company they don't already own for $18.20 a piece in cash. This amounts to a 13% premium to American Greetings' closing price of $16.10 last Thursday.

LAKE OSWEGO, Ore. — Galena Biopharma has purchased rights to a treatment for breakthrough cancer pain from a Swedish drug maker, Galena said Monday.

Galena, which specializes in cancer-related drugs, said it acquired Abstral (fentanyl) sublingual tablets for sale and distribution in the United States from Orexo AB. Breakthrough cancer pain, or BTcP, affects between 40% to 80% of cancer patients, with reported episodes of four per day and a median duration of 30 minutes, according to Galena.

MINNEAPOLIS — Target Corp. has purchased two online retailers of cooking equipment in a move designed to expand its cooking and kitchenware business, said the mass merchandise retailer, which has lately made major investments in multichannel retailing.

Target announced the purchase of Cooking.com and CHEFS Catalog, both of which will continue to operate under their current names as a single, wholly owned subsidiary of Target. Financial terms of the deals were not disclosed.