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Peltz's Trian picks up 6% stake in Britain's Ferguson

June 13, 2019 at 02:38 am EDT

(Reuters) - Nelson Peltz's Trian Fund Management LP has acquired a stake of about 6% in Ferguson Plc, calling the British plumbing products distributor an "attractive" investment that trades at a discount to peers in the United States.

Trian's stake is valued at about 736 million pounds, Trian Investors 1 Ltd said in a statement on Thursday.

Ferguson's performance has been under pressure this year as cooling growth in the United States, its largest market, has weighted on shares.

Trian said it has been in talks with Ferguson's management and "looks forward to working with them to explore and implement initiatives that it believes can create long-term shareholder value."

Trian's stake would make it Ferguson's second-largest shareholder, behind BlackRock investment Management (UK) which owns a 10.46% stake, according to Refinitiv Eikon data.

Trian Investors 1 is a Guernsey-domiciled limited company, which is managed by Trian Investment Management LLC, a unit of Trian Fund.

(Reporting by Shariq Khan and Yadarisa Shabong in Bengaluru; Editing by Saumyadeb Chakrabarty and Gopakumar Warrier)

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
FERGUSON PLC	16,815 GBX	-0.65%	-1.61%	42.31B
TRIAN INVESTORS 1 LIMITED	185.5 GBX	-.--%	-1.85%	3.2M
BLACKROCK, INC.	755.3 USD	-0.98%	+1.00%	113B

Nelson Peltz

Nelson Peltz (born June 24, 1942) is an American businessman and a founding partner, together with Peter W. May and Edward P. Garden, of Trian Fund Management. L.P., an alternative investment management fund, based in New York.

Early life and education
Peltz was born in 1942 to a Jewish family in Brooklyn, New York, He was enrolled at the undergraduate program at the Wharton School of the University of Pennsylvania, where he joined the Fraternity of Phi Gamma Delta, but never completed his degree. Triangle was sold to Pechiney in 1988.

In 1997, through an investment vehicle they controlled, Triarc Cos, Peltz and May acquired Snapple, from Quaker Oats. Snapple, together with other beverage brands was sold to Cadbury Schweppes in 2000. The Snapple turnaround was featured as a Harvard Business School case study.

In 2006 Trian was involved in a proxy contest with Heinz to get five independent directors on the board of Heinz. In the end Trian succeeded in getting two members on the board, including Peltz.

In 2007, Trian bought a 3% share of Cadbury-Schweppes which may have influenced the spin-off of Cadbury Schweppes Americas Beverages from the Cadbury Schweppes confectionery group. In 2007, Trian also bought $1.8 billion in shares of Kraft Foods, roughly a 3% of the total equity of the food maker.Cite news| url = |title= Peltz Has His Slic

Source @ Wikipedia

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Linked companies
Trian Partners General Partner LLC Trian Partners General Partner LLC Miscellaneous Commercial ServicesCommercial Services Trian Partners General Partner LLC provides business services related to hedge funding. The company is the general partner of Trian Onshore, Trian Offshore, and Trian Offshore (Non-ERISA). It is located in New York, NY.	Chief Executive Officer
Trian Fund Management LP Trian Fund Management LP Investment ManagersFinance Trian Fund Management LP (Trian) is an independent, SEC-registered investment advisor and hedge fund manager headquartered in New York City. The firm was founded by Nelson Peltz, Edward Garden and Peter May in 2005 and do-business-as Trian Partners. Trian provides discretionary investment advisory services to a variety of domestic and offshore private investment partnerships and other investment vehicles.	Chief Executive Officer

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