Brand-Led, Asset-Backed Acquisitions

“Companies that produce something were purchased: sunglasses and reading glasses, cookies, or cornflakes. He acquired media conglomerates that, as he puts it, "produce money." At the fast food chain Burger King, the patties are a reliable source of revenue.”

“Nicolas Berggruen's flair for profitable business is evident in the brand relaunch of the Foster Grant sunglasses brand. The company founder Sam Foster started in 1919 with hair accessories for women. The assortment included clips, combs, hoops, and barrettes. Sunglasses were the logical next step. The department store giant Woolworth distributed them in all branches, but they became a mass success mainly through beach sellers – from Atlantic City to Miami to Santa Monica, the trendy glasses were suddenly a hit. In the crazy 1960s, they were worn by Peter Sellers, Claudia Cardinale, Elke Sommer, Anita Ekberg, and Anthony Quinn. Audrey Hepburn was also photographed for the movie poster of Breakfast at Tiffany's with a Foster Grant.”