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Aug 17, 2023 • 4 min read

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Bazooka Candy Acquisition:

Private equity firm Apax Partners has agreed to acquire Bazooka Candy Brands for roughly $700 million. Prior to this, Madison Dearborn Partners and Torante had arranged to secure the company through a SPAC deal valued at $1.3 billion, which also encompassed the Topps trading cards segment.
This arrangement unraveled after Topps' exclusive agreement with Major League Baseball was overtaken by Fanatics. Subsequently, the card business was sold to Fanatics for $500 million, positioning the candy division at a $700 million valuation. This results in a combined sale value of $1.2 billion, slightly below the initial $1.3 billion SPAC estimation.
However, given the usual trajectory of post-merger SPACs, this marginal reduction might be seen in a positive light. It's worth noting that the Bazooka candy brand contributes a mere 2% to annual sales, with major earnings stemming from other brands like Ring Pop, Push Pop, and Baby Bottle Pop.

Italy Flight Price Cap:

The Italian government is addressing concerns over rapidly rising airfares to Sicily and Sardinia, two popular tourist destinations. These hikes are attributed to the use of "dynamic pricing" by airlines. This pricing method, powered by algorithms, adjusts ticket prices based on demand, resulting in significantly higher costs during high-demand periods.
Lately, Italy has witnessed a dramatic uptick in tourism, and this surge in demand has led to a staggering 830% increase in plane ticket prices to these islands when compared to the annual average. To counter this, the Italian government is proposing a regulation that would cap the price of airfares to Sicily and Sardinia at only 200% above their yearly average.
While this move is intended to protect consumers from exorbitant prices, it hasn't been well-received by all. Several airlines have voiced strong opposition, suggesting that the proposed cap may contradict European Union regulations. The debate on the legality and feasibility of this proposal continues.

iPhone 15 Production:

Apple is launching the production of its latest iPhone 15 in Tamil Nadu, South India, marking a significant step in its strategy to reduce dependency on China's supply chain.
The Foxconn facility in Sriperumbudur is gearing up to roll out the new devices shortly after their initial release from Chinese factories. Insiders indicate that Apple aims to significantly increase the production volume of iPhones from India in the near future.
Historically, before the introduction of the iPhone 14, only a minimal portion of iPhone assembly took place in India. This move underlines Apple's evolving commitment to diversifying its manufacturing bases and capitalizing on India's growing technological capabilities.

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