Acquisition News: Budget, Heavenly Ham, Ranch1
New York--Cendant Corp. is in talks to buy rival Budget Group Inc. in a deal that would create the No. 2 car-rental company in the country, the Wall Street Journal reported in its online edition. People close to the situation told the Journal that Cendant, parent company of Avis Holdings Inc., would pay $100 million in cash and other considerations and would assume about $3 billion in debt as part of a pre-planned bankruptcy court proceeding. -Reuters
Atlanta--In a bid to build its franchise business, The HoneyBaked Ham Co., whose 300 U.S. stores sell spiral-sliced glazed hams, has acquired franchisor Heavenly Ham, which has about 200 locations nationwide. About 85 percent of HoneyBaked Ham's locations are corporate-owned, but the company said it hopes to build its franchise operations using Heavenly Ham's expertise. Only two of Heavenly Ham's units are company-operated. -Reuters
Scottsdale, Arizona--Kahala Corp., franchisor of several healthy quick-service brands, has wrapped up a $6 million deal to buy New York City-based Ranch 1 and plans to boost the franchise from 51 outlets to 1,000 nationwide over the next 10 years.