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Business

M&A & Legal

Jelly Belly Candy Co. is being sued by a California woman who claims the company misled her into thinking that one of its products, Sport Beans, does not contain sugar. The product, which is marketed as an exercise supplement containing carbohydrates, electrolytes, and vitamins, also lists “evaporated cane juice” on the label instead of sugar. Global private equity firm Eurazeo, which has investments in Moncler, Farfetch, and others, taps Jill Granoff as CEO of Eurazeo Brands, a new New York-based division. According to WWD, Eurazeo has allocated $600–800 million to the division to invest in U.S. and European brands. The firm also expects to write equity checks from anywhere between $10–600 million, with larger deals co-investments with Eurazeo Capital.

Hearst expands its local news portfolio with the acquisition of the print and digital assets of 21st Century Media Newspaper, a Connecticut-based media group. Hearst’s collection of U.S. newspapers now comes to 22 dailies and 64 weeklies.

Maxx Marketing enters into a strategic partnership with Licensing Matters Global. Licensing Matters will assist Maxx and its clients to maximize their usage and manage acquisitions of entertainment, sports, art, corporate brand, and celebrity licenses. LM will also direct Maxx’s outbound licensing efforts.

Time Out Group acquires Print & Digital Publishing Pty. Ltd., the group’s Australian licensing partner. This follows the addition of Time Out Hong Kong in March 2017 to the group’s network of owned and operated businesses, which now comprises 71 cities in 17 countries.

JLGX, the division of the Joester Loria Group that represents manufacturers and retailers, takes on new clients including Fullcube (creator of modern membership models), Modern Gourmet Foods (supplier for retailers of goods and beverages), and PlayMonster (toy and game company).

Nickelodeon and (RED) partner to create (SPONGEBOB)RED, a collaboration enlisting the iconic character to help raise money for the Global Fund to Fight AIDS, Tuberculosis and Malaria. The partnership, which extends through 2018, launches with a fashion apparel collection for adults and children this November.

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