Deals this week: Coupang, Lidl, MedMen

23 November 2018 (Last Updated November 23rd, 2018 09:31)

SoftBank Vision Fund will help Coupang to invest in customer-first technological innovations by providing $2bn in funding.

SoftBank Vision Fund will help Coupang to invest in customer-first technological innovations by providing $2bn in funding.

Coupang received a $1bn funding from SoftBank Group in June 2015.

SoftBank Vision Fund is a Japanese investment expert established in November 2016.

Coupang was founded in May 2010 and is headquartered in Seoul, South Korea. The company sells four million products through its online retail platform and also offers one-day delivery service to the consumers through its Rocket Delivery service.

Lidl US has agreed to purchase 27 Best Market grocery stores in New York and New Jersey for an undisclosed sum.

The deal will help Lidl expand regionally and enter the retail market in the Long Island region.

Lidl will initiate the transition, remodelling, reflagging, and restructuring of the Best Market stores from 2019.

The company will permit the Best Market employees in New York and New Jersey to continue their employment in the stores, following the deal completion.

“Lidl US has agreed to purchase 27 Best Market grocery stores in New York and New Jersey for an undisclosed sum.”

Based in Germany, Lidl operates 10,500 supermarkets in 29 countries across the world, while Best Market is an American grocery store.

Medmen Enterprises has agreed to acquire the retail operations of Captor Capita, along with a location licence in Santa Ana, California, for a consideration of $16m.

The all-stock transaction will involve the issue of Medmen’s 3,740,228 Class B subordinate voting shares to Captor Capital, upon its closure.

Headquartered in Culver City, California, US, MedMen is a cannabis company.

Canadian company Captor Capital manufactures, cultivates and distributes medically approved and recreational marijuana-based products through leading retail stores and dispensaries.

Timex Group India Ltd has collaborated with Tesla Watch for manufacturing watches that offer protection against electromagnetic pollution.

Timex Group is a leading manufacturer of high-end watches in India and a subsidiary of Dutch Timex Group BV.

Tesla Watch is an Indian watch manufacturing company.

Cathexis Holdings LLP has invested $20m in Bellami Hair LLC. The company has also committed to an additional capital of $100m.

Cathexis Holdings LLP is a private equity firm, while Bellami Hair LLC is a hair extension and hair styling products company. Both are based in the US.

Green Rush Group Inc plans to secure $20m in funding.

Based in the US, Green Rush Group is an online retailer of pharmaceutical products and cannabis.