Solstice Spinoff and Qnity Spinoff On Deck
Big week for spinoffs this week as DuPont completes its Qnity spinoff, and Honeywell completes its Solstice spinoff. These are two large companies who are spinoff veterans. These widely held stocks should see lots of volume for both the parents and the spinoffs
Grupo Herdez Nutrisa Spinoff Completed Last Month
Unilever may have delayed its The Magnum Ice Cream spinoff this month, but we missed another ice cream spinoff last month, this time a Mexican spinoff. On September 18, Grupo Herdez completed the spinoff of Grupo Nutrisa, its retail ice cream, confectionery, and café business. As of June 30, 2025, Grupo Nutrisa operated 663 stores: 378 Nutrisa, 100 Chilim Balam, 93 Cielito Querido Café, and 92 Moyo locations. The company plans to open 12 new franchised units in 2025. The company’s stock has been under pressure since the spinoff.
David Litt’s Land & Buildings Pushes Six Flags To Sell Or Spin Off Real Estate- Again
David Litt, founder and Chief Investment Officer of Land & Buildings Investment Management has been trying to get Six Flags to sell or spin off its real estate since 2022. The Wall Street Journal reported last month that he is at it again, despite owning just 2% of the company. Six Flags, which merged with rival Cedar Fair last year, has struggled since. We don’t believe this kind of financial engineering is the answer to the company’s problems, but rather it would likely accelerate the decline. The company’s problems are operational and spinning off the real estate will only exacerbate them. Six Flags does have a fantastic ticker symbol: FUN
More recently, other activists have gotten involved, including Travis Kelce. Yes, THE Travis Kelce, Mr Taylor Swift. But these activists are more constructive, focused on reversing the poor operational decisions made in the last few years. Sachem received a board seat recently, and Jana Partners, with a 9% stake partnered with Travis Kelce to push for change at the company. These activists want to return the company to its former glory, focus on the fun, rather than sell it off for parts. Travis, who considers himself an amusement park superfan is ready to get to work. As amusement park fans ourselves, we can’t wait to see the results.
Disclosure: The author owns no position in any stock mentioned