Thursday, July 30, 2015

Two more Philly firms seek Europe partners

UGI to add France's Totalgaz; Mothercare spurns Destination Maternity

Two more Philly firms seek Europe partners

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Ed Krell, CEO of Destination Maternity. (Laurence Kesterson / Staff Photographer)
Ed Krell, CEO of Destination Maternity. (Laurence Kesterson / Staff Photographer)

Valley Forge-based UGI Corp. says it has agreed to pay at least $547 milllion to buy the France-based oil company Total's Totalgaz liquified-petroleum gas (LPG) business and combine it with UGI International, which supplies France's Antargaz small-customer business. 

Separately, Destination Maternity, the Philadelphia company that sells A Pea in The Pod and other clothing brands for pregnant women (and is deserting its Navy Yard facility to move its headquarters to Moorestown, NJ this fall), confirmed today that U.K.-based Mothercare Plc refused a sweetened $453 million takeover offer from Destination last month. Destination defended the deal, which it said would have enriched shareholders of both companies and created "the global leadee in maternity, baby and young children's apparel" with $1.7 billion in yearly sales.

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About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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