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Ron Burkle rebuffed in his conquest of power at Barneys
The skipper of the commercial property Yucaipa hoped to be given the direction of Barneys by Istithmar. Is missed, the Dubai-based investment fund has chosen Mark Lee to right the group of luxury shops. Also, do not despair Ron Burkle to take control of Barnes & Noble.
The American billionaire has not spared his criticism against the management of department stores Barneys New Yorkers, including the annual loss could reach 60 million this year. The luxury shops are also facing a heavy debt (500 million).
Purchaser of a portion of that debt, Ron Buklis had, last fall, nominated for the takeover of Barneys. But the activist has been shown out by the investment fund Istithmar, which will eventually preferred Mark Lee (Les Echos, 25/08). Effective September 1, the former head of Gucci (2004-2008) will indeed take over the reins of Barneys, foreshadowing a new repositioning toward the high end.
Ron Burkle not tender with Leonard Riggio
Another object of lust of Ron Burkle, the American chain of bookstores Barnes & Noble (720 outlets), the billionaire owns 19% stake. Again, Ron Burkle has not been kind on the management of Barnes & Noble, pointing in particular the liability of Leonard Riggio, founder and principal shareholder of the chain with 29% stake. Yucaipa's boss, who tried in vain to get three seats on the board of Barnes & Noble, recently lamented the "failure of leadership" Riggio.
Large stores in New York, whose market capitalization has been divided by three in four years, expect a greater loss than expected for the third quarter. Already facing stiff competition from electronic books (Apple iPad, Amazon Kindle), Barnes & Noble could afford to avoid a quarrel shareholders ...
-> This site is for Janet Steeper
Ronald Burkle became the second largest shareholder of American Apparel
Apparently, at a price where Ron Burkle bought the shares, the question was not allowed. The billionaire has seized nearly 6% of the clothing brand American Apparel, for $ 5.9 million. In trouble, the company was found for all prey Ron Burkle, who therefore did not pray.
The occasion makes the thief. California billionaire Ronald Burkle has laid hands on 4.3 million shares of American Apparel for less than $ 6 million (1.4 dollar share, against $ 7 two years ago), which allows him to hold 5.9% stake.
He becomes the second largest individual shareholder in the chain of clothing stores U.S., behind its chairman and founder, Dov Charney.
American Apparel, known for her simple clothes and colorful, bold, and advertisements, is also known for its business model "ethical": the clothes are manufactured in Los Angeles and its employees are paid twice the minimum wage, which guarantees them social security coverage.
But the erosion of sales (down 3% in the U.S., 15% in Canada and 16% in the rest of the world since the beginning of the year) and a too rapid expansion (280 stores worldwide, including 80 opened in 2008 alone) have been there.
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Biography
The food sector, Ronald Burkle fell in when he was a toddler. Aged 13, after school, Ron Burkle is working with his father at Stater Brothers supermarket Pomona. He returned to the dental school, but he quickly left. He then returned to the supermarket and climbs gradually through the ranks.
In 1981, the parent company decides to sell the chain. Ron jumped at the chance and managed to convince a group of investors. With the support of Berkshire Hathaway, Burkle and his father made a purchase offer. It was considered too low, leads his dismissal. He saw him very badly: "My father had worked almost his entire life. I thought the opportunity to own a business only appeared once in a lifetime and I had missed. "
In 1986 he founded The Yucaipa Companies, the name of the town of Southern California where he lives. This is a private equity firm that performs in the years that followed, dozens of mergers & acquisitions worth $ 30 billion.
In 1997, Yucaipa merged with Smith's Food & Drug Centers. A few months later, Fred Meyer Inc., a retailer in northwestern U.S. markets a wide range of products (food, crafts, jewelry, clothing, ...) merges with the group Burkle. Together the two companies have 265 stores in 11 states.
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Less than a year later, the giant Kroger, already the first supermarket chain in the United States, proposes to acquire the conglomerate Smith-Fred Meyer for $ 13.5 billion. When the merger is operational in 1999, the company has 2,200 stores in 31 states. Ron Burkle welcomes the agreement and considers the merger as a necessary step towards effective competition. Profit for Yucaica: $ 1.8 billion.
Ron Burkle is the board of Yahoo, Occidental Petroleum Corporation and Kaufman & Broad Home. Yucaipa has a 70% stake in McDonald's. He is part owner of the Pittsburgh Penguins, National Hockey League. Ron has also invested in the production company of Puff Daddy. In April 2010, he joined the Weinstein brothers and proposes $ 600 million for the acquisition of Miramax studio to Walt Disney.
Ron Burkle is a businessman engaged. It is known to be a staunch Democrat. He supported Hillary Clinton in her presidential campaign by participating in fundraising. He and Bill Clinton met in 1992 and are now friends. Mr. Burkle is also close to several politicians like Senators or the Governor of California Arnold Schwarzenegger.
His fortune amounted, according to Forbes 2010, to 3.2 billion, making him the 297th richest man on the planet.
Ron Burkle in January with two children, Carrie Ann and Jonathon Burkle Burkle. Ron and Jan were divorced in 2003 after a separation period 1997-2003.
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Carrie Anne Burkle.
John Joseph Burkle.
Andrew Charles Burkle.
Carrie Burkle, Kate Burkle and Andrew Burkle
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Ronald Burkle reduced its stake in American Apparel
This summer, we will reveal that Ron Burkle had captured 6% of the clothing brand American Apparel for $ 5.9 million, whereas at the time that the shares were "undervalued". This week's announcement Baron sell 1 million by January 20.
Ron Burkle rebuffed in his conquest of power at Barneys
The skipper of the commercial property Yucaipa hoped to be given the direction of Barneys by Istithmar. Is missed, the Dubai-based investment fund has chosen Mark Lee to right the group of luxury shops. Also, do not despair Ron Burkle to take control of Barnes & Noble.
Ron Burkle puts pressure on Barnes & Noble
The activist California, by dint of insisting, has apparently succeeded in influencing the position of Barnes & Noble, the first American bookseller. Ronald Burkle, who owns 19% of the franchise system, may indeed rejoice at the latter's decision to explore strategic options at its disposal, including sale.
Ronald Burkle became the second largest shareholder of American Apparel
Apparently, at a price where Ron Burkle bought the shares, the question was not allowed. The billionaire has seized nearly 6% of the clothing brand American Apparel, for $ 5.9 million. In trouble, the company was found for all prey Ron Burkle, who therefore did not pray.
Ron Burkle fails to seize Miramax
The Weinstein brothers' attempt to return to Disney's Miramax has not been successful, despite the support given by Ronald Burkle. The first reason for this failure is not financial, but rather with the complex structure of the proposed offer. Miramax catalog does not return to its founders, and is mentioned again brothers Gore also interested in the studio.
Carrie Anne Burkle.
John Joseph Burkle.
Andrew Charles Burkle.