Houlihan Lokey's Consumer, Food & Retail Group is pleased to announce that David Michael & Co., Inc. has been acquired by International Flavors & Fragrances Inc. (NYSE: IFF). Financial terms of the transaction were not disclosed. The transaction closed on October 7, 2016. Founded in 1896 and headquartered in Philadelphia, Pa., David Michael is a leading developer and manufacturer of customized flavor solutions. David Michael maintains deep relationships with widely recognized and innovative food and beverage companies in North America and...

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The EACC in partnership with the International Property Tax Institute (IPTI) wants to keep our members up to date with the latest developments in property taxes both in the USA and Europe. IPTI has put together a selection of reports from articles contained in IPTI Xtracts. The reports cover France, Germany, Greece, Portugal, Ukraine, the United Kingdom, and the United States with a focus on New York. France: Don't miss your upcoming tax deadlines in France The deadline for paying your income...

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Sports equipment chain Golfsmith International has shared the fate of many others in today’s retail landscape: a bankruptcy filing and a list of closings. In what Time Magazine has dubbed the “age of Amazon,” some of the biggest names in retail have suffered from sinking sales and have shuttered a large number of stores in recent years. E-commerce giant Amazon has established their presence on every corner of the market, as it offers discounts and prompt shipping for a seemingly endless...

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Portugal builds airplanes. Yes, planes. And automobiles as well. Portugal builds construction works which leave a mark. Bridges, highways, ports airports, sports stadiums, schools, hospitals and palaces. The Portuguese ability to build masterpieces is present worldwide. Surprised? Our history is made of discoveries, entrepreneurship, creativity and permanent innovation. We are a modern and sophisticated country that will surprise you. Our country develops medicine: Zebinix in the treatment of epilepsy, Opicapone in the treatment of the Parkinson disease. Two medicines developed...

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Bard MBA spoke to Maureen Kline, vice president, public affairs and sustainability, Pirelli Tire North America, on the role that innovation and technology play in the present and future of the tire industry to not only to make it more sustainable but to also continue to improve performance and safety. In addition to her work with Pirelli, Kline writes a weekly column on sustainability for www.inc.com. She also chairs the board of the Tire and Rubber Association of Canada and...

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Cross-border acquisitions are becoming ever more popular, as US companies seek to enter overseas markets quickly and without the delay and logistical hurdles of building organically. Europe in particular has been a destination of choice where markets are mature, talent is readily available, IP can be protected, taxes are predictable and business cultural is familiar. What therefore could possibly go wrong? The answer is that assuming the right diligence has been completed on the target and local advice has been...

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Today, the High Court has started hearing arguments on whether the UK government can go-it-alone and trigger Article 50 of the Lisbon Treaty – the legal mechanism to commence departure from the EU – without first seeking the approval of Parliament. Opening the case, Lord Pannick QC for the lead claimant emphasised that the challenge was not about whether or not the UK should leave the EU, but whether the government has the legal power to trigger Article 50, with...

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This initiative by the Attorney General is effective immediately and is just the latest example of California’s effort to increase enforcement of laws aimed at protecting the privacy and data security of individual consumers. The California Office of the Attorney General (the Attorney General) launched a new online form on October 14 that consumers can use to report privacy policy violations. Citing the need to enhance transparency in the Internet of Things, as well as to fill privacy gaps caused...

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On August 23, 2016, the U.S. Court of Appeals for the Sixth Circuit held in the Chapter 7 bankruptcy case In re Fair Finance Company that an amendment and restatement of a loan and security agreement may have been a novation of the initial agreement and therefore extinguished the lender's existing security interest. As background, in 2002, the lenders and the debtor, Fair Finance Company, entered into a loan and security agreement (the "Original LSA") for a $22 million revolving...

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The General Data Protection Regulation (“GDPR”) introduces a new important role in the data protection scheme: the so-called Data Protection Officer (“DPO”). The DPO will become indispensable for quite a lot of companies and will play an essential role in ensuring compliance with data protection law. Appointing a DPO is mandatory for entities acting as a data controller or data processor if (i) the processing is carried out by a public authority or body, except for courts acting in their...

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