Why 'Best Acquisitions and Exits 2027' Isn't a Ranking

There is no best acquisition. There is an offer that fits what a particular seller needs, and a set of offers that do not.

So this page ranks nothing. It takes the seller's seat instead. A search for the best acquisitions and exits 2027 has no universal answer: given two or three offers on a table, what separates them, and which differences matter more than the headline number?

The celebrity transactions below illustrate different structures. Rare Beauty, the Selena Gomez cosmetics brand, drew a minority investment from a group including Sir John and other backers rather than an outright sale.

Ryan Reynolds sold Aviation Gin to Diageo in 2020 for an upfront figure plus an earnout tied to growth targets.

George Clooney and Rande Gerber sold Casamigos to Diageo in 2017 for $700 million upfront with up to $300 million more contingent on performance.

What to take away

The seller's own constraint comes first

Before comparing offers, name the thing that made a sale worth doing.

An offer is better or worse only against one of those. That is why published rankings of deals are entertainment: they are scoring answers without knowing the question.

What actually differs between two offers

Both Aviation Gin and Casamigos carried contingent money, and the sellers' final take depended on hitting targets after the buyer took over.

The three that hurt later

The holdback. Part of the price sits in escrow as security for the promises the seller made about the business. It is normal. It becomes painful when the period is long and the list of matters it secures is open ended, because the seller has spent the rest of the money and cannot fund a claim.

In small consumer deals, a typical holdback runs 12 to 24 months. It is usually capped at 5 to 10 percent of the price and secures only the seller's representations on financial statements, brand ownership, and undisclosed liabilities.

The continuing obligation. Post-sale promotional agreements are common in this category and they are work.

The Federal Trade Commission's (FTC) Guides Concerning the Use of Endorsements and Testimonials in Advertising explain when endorsers should disclose a material connection to a brand. Selling the company does not erase an ongoing endorsement relationship or its disclosure implications.

A seller who signed for three years of content has sold their time as well as their business.

The earnout. The seller is paid more if the business performs, and the buyer decides everything that determines whether it does. This is the single most reliable source of post-closing disagreement in small consumer deals.

Targets are usually written as a revenue or gross profit figure for the next 12 to 24 months. Measurement follows the buyer's accounting system and the buyer's standard policies.

Payout is often a percentage of the excess over the target, or a single sum if the target is hit. Disputes come from the definitions: what counts as revenue, which costs are deducted, and whether the target resets when the buyer changes distribution.

When the choice is not the seller's to make

Where the company has other shareholders, directors deciding between offers owe duties to the company, not to whichever shareholder likes an offer best. The note on fiduciary duty sets the general shape of that duty.

In practice, a founder cannot pick a buyer they get on with, and a minority holder cannot block a deal they merely dislike.

Investors also hold contractual rights that reorder the outcome: consent rights over a sale, a preference on the proceeds, and drag-along provisions that force a reluctant minority to sell alongside the majority. The celebrity companies page explains why the arrangement behind a headline determines who is even in the room.

A comparison worksheet that ranks nothing

Set the offers side by side and fill this in for each. Do not score it out of ten; read the rows against the constraint you named at the top.

Here is an illustrative pair on the same business. Offer A pays $40 million cash at closing. Offer B pays $25 million cash plus up to $25 million on an earnout.

On a certainty constraint, Offer A wins. On an upside constraint, the same seller can prefer Offer B.

The acquisitions and exits page covers how the headline number is assembled. The portfolio case studies page shows how to check what a buyer's group actually is before agreeing to join it.

When a transaction is a licensing arrangement dressed as a sale, the franchises and licensing page describes the line between the two.

Why we do not publish a ranked list

A list of the year's best exits would need private prices, confidential terms, and judgment about outcomes not visible for years. Every published version is assembled from announcements written by the parties.

The best celebrity companies 2027 page makes the fuller argument about what a real ranking would require.

Common questions

Is an all-cash offer always the best one?

For a seller who wants certainty, usually. For one who believes in the buyer's plan, taking stock or an earnout can be worth more. Neither is right in the abstract.

How long should a holdback last?

In small consumer deals, 12 to 24 months is a typical period and 5 to 10 percent of the price a typical cap. Ask what it secures, whether it is capped, and what has to happen for release.

Can I compare an offer to what similar businesses sold for?

Only loosely, because those terms are private and the reported figures are usually headline totals including contingent money. Treat comparisons as orientation, not as pricing.

Should I take advice on this?

Yes, from a lawyer and an accountant who act for you rather than for the buyer, and before you sign anything, including a letter of intent that looks non-binding.