Madison Dearborn Partners to Acquire Marygold Cos. in Take-Private Deal

Dow Jones
09/25
 

Private equity firm Madison Dearborn Partners has entered an agreement to acquire the Marygold Cos. in an all-cash deal that would take the holding firm private.

Under the agreement, Madison Dearborn Partners would acquire all of the outstanding shares of Marygold. Marygold stockholders would receive $2 per share in cash, representing a premium of 100% over the company's closing share price on Thursday, the companies said Friday.

Marygold is a holding firm specializing in financial services, food manufacturing, printing and beauty products. Following the close of the deal, Madison Dearborn Partners and Marygold leaders plan to double down on Marygold's previously announced strategy to refocus the business on USCF, its commodity-focused ETF manager.

Madison Dearborn Partners also named Tim Rotolo as the chief executive of Marygold, succeeding Nicholas Gerber.

The companies expect the deal to close during the first half of 2027 or earlier, subject to customary closing conditions including the approval of Marygold stockholders, regulatory approvals and certain change-of-control approvals.

Certain Marygold stockholders, including Gerber, who collectively own about 75% of the company's outstanding shares, have agreed to vote their shares in favor of the deal.

Marygold's board has voted unanimously to approve the transaction, the companies said.

Shares of Marygold shot up 92% to $1.92 in premarket trading.

 
 

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