Deal Dispatch: Papa John’s May Go Private, Shell Buys Jiffy Lube, Meta Acquires Moltbook

New On The Block

Advent is considering the sale of Ultra Maritime as demand for naval defense companies surges amid rising geopolitical tensions. The private equity firm is reportedly in discussions with banks about a potential sale that could value Ultra at around $4 billion. According to Bloomberg, the process could begin in the next few months.

A packaged deal. Blackstone (NYSE:BX) is preparing to sell Chinese packaging company ShyaHsin Packaging at a valuation of $1 billion. Citigroup is running the auction set for later this year, Bloomberg reported.

Irth Capital Management has submitted a takeover proposal for Papa John’s International (NASDAQ:PZZA), valuing the pizza chain privately at $1.5 billion. The proposal includes financial backing from global asset manager Brookfield Asset Management. Papa John’s has not yet accepted the offer. Additionally, other interested parties may emerge as the situation develops.

Centerview and Guggenheim have been hired by GI Partners to sell Clinical Ink, Axios Pro reported. GI Partners purchased the clinical trial technology company in 2020.

Brookfield Asset Management is exploring a potential acquisition of World Freight Co. The air cargo forwarding services company is currently owned by EQT AB and PAI Partners, which is looking to gain approximately $1.2 to 1.3 billion from the deal. The conversation is ongoing, and it is unclear whether a deal will be reached.

Warburg Pincus tapped Citigroup to explore options for Oona Insurance. A possible deal could value the Southeast Asian insurer at several hundred million dollars. It is unclear as to whether Warburg will pursue a deal.

California, Colorado, and New York are in talks to file an antitrust lawsuit against Nexstar Media Group (NASDAQ:NXST) for the proposed $6.2 billion purchase of rival broadcaster Tenga (NYSE:TGNA), the Wall Street Journal reported. The states argue that this acquisition would create “excessive concentration in certain local television markets.” Regulatory approval from the Federal Communications Commission is required before pursuing a lawsuit.

That’s fitting. Uniform supplier UniFirst Corp. has been sold to Cintas Corp. for $5.5 billion in cash. Together, the company will supply 1.5 million businesses with uniforms across North America. The transaction will close in the second half of this year, subject to shareholder approvals.

Tilman Fertitta has been discussing a potential acquisition of Caesars Entertainment for approximately $7 billion, following an initial offer from Carl Icahn’s firm. Caesars currently operates over 50 resorts across the country.

Shell PLC sold Jiffy Lube International and its subsidiary, Premium Velocity Auto to Monomoy Capital Partners for $1.3 billion, Reuters reported. The transaction is expected to close in the second half of 2026.

Guggenheim Investments and Temasek Holdings have agreed to sell New York-based advisory firm Eastdil Secured Holdings to global brokerage Savills in a transaction valued at approximately $1.1 billion, including assumed debt.

Agilent Technologies (NYSE:A) will acquire Biocare Medical for $950 million. The transaction is subject to customary closing conditions, and is expected to close by the fourth quarter of 2026. Upon close, Biocare will become part of the Agilent Life Sciences and Diagnostics Markets Group.

Universal Health Services (NYSE:UHS) has entered into an agreement to acquire virtual behavioral health platform Talkspace (NASDAQ:TALK) for $835 million, which UHS plans to finance through borrowings to its existing revolving credit facility. The transaction is expected to close in the third quarter of 2026.

New York-based private equity firm Oak Hill Capital Partners has agreed to acquire Guild Garage Group for $800 million, according to sources cited by Reuters. Since its launch in 2024, Guild Garage Group—a company specializing in garage door repair and replacement—has expanded rapidly by acquiring nearly 30 residential-focused garage door businesses.

OpenAI is acquiring Promptfoo. The cybersecurity startup’s team will join OpenAI and will be integrated into the Frontier platform for AI agents. Terms of the deal were not disclosed.

Meta has acquired Moltbook, a social network for AI agents, for an undisclosed price. Matt Schlicht and Ben Parr, Moltbook’s founders, will join the Meta team as part of the acquisition.

Defense technology firm Anduril Industries hired Janes Capital Partners in the deal to acquire ExoAnalytic Solutions, a national security firm specializing in space sensing, awareness, and missile defense. Terms of the deal were not disclosed. The acquisition is subject to regulatory approvals.

Google LLC, owned by Alphabet (NASDAQ:GOOG), completed its $32 billion acquisition of cloud and AI security platform Wiz, nearly a full year after the transaction was announced. Wiz will join Google Cloud and maintain its brand and commitment to securing customers across all cloud environments.

Saks Global is closing 15 more stores — 12 Saks Fifth Avenue and three Neiman Marcus — locations as part of its Chapter 11 bankruptcy process. Last month, the company announced that it would be closing eight Saks Fifth Avenue and one Neiman Marcus location as part of its first phase in the bankruptcy proceedings.

A federal bankruptcy judge has approved the Chapter 7 liquidation of Planta, a vegan restaurant group, after the company filed for Chapter 11 bankruptcy protection in May 2025. The Miami-based chain operated 17 restaurants in the U.S. Planta, co-founded in 2016 by Chef David Lee, focused on plant-based cuisine.

Eddie Bauer is shuttering all of its physical retail stores after the outdoor clothing chain failed to find a buyer during its Chapter 11 Bankruptcy proceedings. The company will continue liquidation sales until it reaches an agreement.

Rotten Little Bastard Distillery filed for Chapter 7 bankruptcy in South Carolina. The distillery, which opened in 2020, has assets ranging from $100,000 to $1 million. The company owes $31,445 to United Community Bank for an SBA Loan and over $11 thousand to American Express.

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