Market Newsdesk

TORONTO
, Jan. 11, 2022 /CNW/ – Canadians are prioritizing saving as they continue navigating the challenges of the global pandemic and amid expectations of rising inflation in the coming year. BMO’s annual savings study found that among the 63 per cent of Canadians with a Tax-Free Savings Account (TFSA), 67 per cent contributed the same or more than they have contributed historically.

BMO Economics estimated that excess savings reached nearly $300 billion late last year, while disposable income increased by approximately 4.5 per cent in 2021.

The survey reveals insights into Canadians’ knowledge and use of TFSAs:

• Cash is King: Cash is the most popular asset – the majority (56 per cent) of Canadians have cash in their TFSA and 29 per cent say cash makes up at least three quarters of their holdings.
• Knowledge Gap: While 73 per cent of Canadians consider themselves knowledgeable about TFSAs, only half (49 per cent) of Canadians are aware that a TFSA account can hold both cash and at least one of the other investments.
• Holdings Growth: Despite the ongoing challenges from the pandemic, Canadians on average hold $34,917 in their TFSAs, a 13 per cent increase from 2020.
• Financial Goals: Canadians primarily use their TFSA accounts for various financial goals, with 44 per cent using a TFSA for retirement savings, 43 per cent using it as a savings account, and just 15 per cent using the account as a means to achieve financial independence as early as possible.
• Barriers to Contribution: Lack of funds (41 per cent) and other expenses (32 per cent) are the largest factors preventing Canadians from contributing to their TFSAs this year. Only seven per cent of Canadians say that they did not contribute due to pandemic related reasons – a 10 per cent decrease from 2020.

“Throughout the uncertainty of the pandemic, Canadians have remained resilient and optimistic – continuing to prioritize savings and contributing to their TFSAs,” said Nicole Ow, Head, Retail Investments, BMO Bank of Montreal. “2022 is likely to bring new challenges with growing inflation and economic uncertainty as the pandemic continues into another year. We encourage Canadians to work with an advisor to maximize the benefits of TFSAs and other investment vehicles, such as RRSPs, to help make real financial progress and enable them to meet long- and short-term financial goals.”

Different Registered Plans for Different Financial Goals

While TFSAs remain a popular investment vehicle, there is a lack of awareness about other savings accounts. The survey found:

• Registered Retirement Savings Plan (RRSP): 74 per cent of Canadians consider themselves knowledgeable about RRSPs, but younger investors (aged 18-34) are 12 per cent less likely to be knowledgeable about the account. Only 64 per cent of Canadians know the difference between an RRSP and TFSA, a 4 per cent decrease from 2020 and a 10 per cent decrease from 2015.
• Registered Education Savings Plan (RESP): Less than half (49 per cent) of Canadians are knowledgeable about RESPs. Knowledge levels are lowest among single, unmarried Canadians (37 per cent).
• Registered Disability Savings Plan (RDSP): Only 16 per cent of Canadians are knowledgeable about RDSPs. Awareness is lowest among Canadians 55 years and older (12 per cent), women (12 per cent) and those who are widowed, divorced or separated (11 per cent).

“While Canadians are aware there are a range of investing solutions available to help them achieve different financial goals, working with a professional advisor can help you understand all your options, determine the strategies that best suit your objectives, experience and risk appetite, and realize the full benefits of having a personalized financial plan,” said Ms. Ow.

For more information on Tax-Free Savings Accounts and Registered Retirement Savings Plans, opening an account, or other assistance, please visit www.bmo.com/tfsa or www.bmo.com/rrsp.

The BMO Savings Study was conducted by Pollara Strategic Insights via an online survey of 1,500 adult Canadians conducted between October 26th and 29th 2021. The margin of error for a probability sample of this size is ± 2.5%, 19 times out of 20.

About BMO Financial Group

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $988 billion as of October 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

DUBLIN and ALAMEDA, Calif., Jan. 11, 2022 /PRNewswire/ — Aptiv PLC (NYSE: APTV), a global technology company focused on making mobility safer, greener and more connected, today announced a definitive agreement to acquire Wind River® from TPG Capital, the private equity platform of global alternative asset management firm TPG, for $4.3 billion in cash.

Wind River is a global leader in delivering software for the intelligent edge. Used on over two billion edge devices across more than 1,700 customers globally, Wind River’s software enables the secure development, deployment, operations and servicing of mission-critical intelligent systems. This edge-to-cloud software portfolio spans the aerospace and defense, telecommunications, industrial and automotive markets and is anchored by Wind River Studio, a highly versatile, comprehensive cloud-native intelligent systems software platform that enables full product lifecycle management for edge-to-cloud use cases. Wind River generated approximately $400 million in revenues in 2021.

“The automotive industry is undergoing its largest transformation in over a century, as connected, software-defined vehicles increasingly become critical elements of the broader intelligent ecosystem,” said Kevin Clark, president and chief executive officer of Aptiv. “Fully capitalizing on this opportunity requires comprehensive solutions that enable software to be developed faster, deployed seamlessly and optimized throughout the vehicle lifecycle by leveraging data-driven insights. These same needs are driving the growth of the intelligent edge across multiple end markets. With Aptiv and Wind River’s synergistic technologies and decades of experience delivering safety-critical systems, we will accelerate this journey to a software-defined future of the automotive industry. In addition, we are committed to further strengthening Wind River’s competitive position in the multiple industries it serves. We look forward to welcoming the world class Wind River team to the Aptiv family as we continue to develop a safer, greener and more connected world.”    

“Wind River has established itself as a worldwide leader in cloud-native, intelligent edge software that delivers the highest levels of security, safety, reliability and performance,” said Kevin Dallas, president and chief executive officer of Wind River. “Combining Wind River’s industry-leading software, customer base and talent with Aptiv’s complementary technologies, global resources and scale will realize our vision of the new machine economy. Together we will accelerate the digital transformation of our customers across industries through best-in-class intelligent systems software. We look forward to working with the Aptiv team to reach even greater heights and provide further growth opportunities for our customers and partners.”

“It has been a privilege to partner with Kevin Dallas and the management team to transform Wind River into a leader in the intelligent systems market,” said Nehal Raj, co-managing partner, and Art Heidrich, principal at TPG Capital. “The mission-critical industries they serve are digitally transforming at a rapid pace, and we see significant opportunity ahead as companies look to adopt innovative software solutions that allow them to leverage data to make better and faster decisions. We are excited to see what Wind River and Aptiv will accomplish together.”

The acquisition allows Aptiv to execute against the large software-defined mobility opportunity and expand into multiple high-value industries with Wind River’s world-class team and leading intelligent systems software platform. The combination will enable multiple end-use innovations and applications, particularly as compute and processing continue to move closer to the edge and connected devices, including vehicles, expand in complexity and capabilities. Aptiv will combine Wind River Studio offering with its complementary SVA™ platform and automotive expertise to extend its position in automotive software solutions, providing automotive customers with a faster and economical path to full vehicle software architecture. Led by Kevin Dallas, Wind River will continue to operate as a stand-alone business within Aptiv as part of the Advanced Safety & User Experience (AS&UX) segment.

Financing and Terms of the Transaction
Aptiv will finance the transaction through a combination of cash and debt. The acquisition is expected to close mid-year 2022 and is subject to customary conditions, including receipt of applicable regulatory approvals. 

Conference Call and Webcast
Aptiv will host a conference call to discuss the acquisition at 8:00 a.m. (ET) today, which is accessible by dialing 800.239.9838 (U.S.) or +1.323.794.2551 (international) or through a webcast at ir.aptiv.com. The conference ID number is 7662806. A slide presentation will accompany the prepared remarks and has been posted on the investor relations section of the Company’s website. A replay will be available two hours following the conference call.

Advisors
Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Aptiv and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Covington & Burling LLP are serving as legal advisors. Morgan Stanley & Co. LLC is serving as exclusive financial advisor to Wind River and Ropes & Gray LLP is serving as legal advisor.

About Aptiv
Aptiv PLC is a global technology company that develops safer, greener and more connected solutions enabling a more sustainable future of mobility. With more than 180,000 employees strategically located to serve customers globally, Aptiv is solving the industry’s toughest challenges with scalable, intelligent platforms that accelerate the transition to software-defined, electric vehicles. To learn more about the company’s unique brain and nervous system portfolio and its commitment to sustainability, visit aptiv.com.

About Wind River
Wind River is a global leader in delivering software for mission-critical intelligent systems. For four decades, the company has been an innovator and pioneer, powering billions of devices and systems that require the highest levels of security, safety and reliability. Wind River software and expertise are accelerating digital transformation across industries, including automotive, aerospace, defense, industrial, medical and telecommunications. The company offers a comprehensive portfolio, supported by world-class professional services and support and a broad partner ecosystem. To learn more, visit www.windriver.com.

About TPG
TPG is a leading global alternative asset management firm founded in San Francisco in 1992 with $109 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com or @TPG on Twitter.

Forward-Looking Statements
This press release, as well as other statements made by Aptiv PLC (the “Company”), contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events, certain investments and acquisitions and financial performance including the potential impact of the proposed acquisition of Wind River. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company’s operations and business environment, which may cause the actual results of the Company to be materially different from any future results. All statements that address future operating, financial or business performance or the Company’s strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: global and regional economic conditions, including conditions affecting the credit market; uncertainties posed by the COVID-19 pandemic and the difficulty in predicting its future course and its impact on the global economy and the Company’s future operations; fluctuations in interest rates and foreign currency exchange rates; the cyclical nature of global automotive sales and production; the potential disruptions in the supply of and changes in the competitive environment for raw material and other materials integral to the Company’s products, including the current semiconductor supply shortage; the Company’s ability to maintain contracts that are critical to its operations; potential changes to beneficial free trade laws and regulations such as the United States-Mexico-Canada Agreement; the ability of the Company to integrate and realize the expected benefits of recent transactions; the ability of the Company to attract, motivate and/or retain key executives; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees or those of its principal customers; and the ability of the Company to attract and retain customers. Additional factors are discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s filings with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. It should be remembered that the price of the ordinary shares and any income from them can go down as well as up. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law.

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SOURCE Aptiv PLC

CHERRY HILL, N.J.
, Jan. 11, 2022 /PRNewswire/ — The Real Good Food Company, Inc. (Nasdaq: RGF) (“Real Good Foods” or the “Company”), an innovative, high-growth, branded, health- and wellness-focused frozen food company, today released the U.S. SPINS retail scanner performance data across all of its products from the most recent period ending December 26, 2021⁽¹⁾. For perspective, SPINS data captures consumption data in the Food, Drug and Mass retail channel, which represents approximately 50% of the Company’s sales.

• The overall Frozen category⁽²⁾ grew 6.2% over the four week period.
• The Health & Wellness Frozen Food subcategory⁽²⁾, which includes Health and Wellness focused brands like Real Good Foods, grew 8.5% over the four week period
• Real Good Foods brand in total grew 56% over the four week period, compared to 40% over the twelve week period.
• Real Good Foods core products, which include Entrée and Breakfast items, grew 143% over the four week period.
• Real Good Foods Brand velocities grew 100%, and base dollar sales velocities grew 94%.

“We are pleased with the continued acceleration in our product velocities and view this as further evidence that more and more consumers are seeking our Craveable, nutrient dense comfort foods. We believe this acceleration provides our brand permission to expand distribution into existing and new categories and retailer partners.  said Bryan Freeman, Executive Chairman at Real Good Foods

Sources: 1. SPINS Total US MULO, excluding Costco, dollar sales for 4-week and 12-week ending December 26^th, 2021. All comparisons in this paragraph are to the same measured period in the prior year. 2. The “Overall Frozen Category” and “Health & Wellness Frozen” category excludes Frozen and Refrigerated Meat, Poultry & Seafood.

About The Real Good Food Company
Founded in 2016, Real Good Foods believes there is a better way to enjoy our favorite foods. Its brand commitment, “Real Food You Feel Good About Eating,” represents the Company’s strong belief that, by eating its food, consumers can enjoy more of their favorite foods and, by doing so, live better lives as part of a healthier lifestyle. Its mission is to make craveable, nutritious comfort foods that are low in carbohydrates, high in protein, and made from gluten- and grain-free real ingredients more accessible to everyone, improve human health, and, in turn, improve the lives of millions of people. Real Good Foods offers delicious and nutritious options across breakfast, lunch, dinner, and snacking occasions, with availability in over 16,000 stores nationwide, including Walmart, Costco, Kroger, and Target, and directly from its website at www.realgoodfoods.com. Learn more about Real Good Foods by visiting its website, or on Instagram at @realgoodfoods, where it has one of the largest social media followings of any brand within the frozen food industry today with nearly 400,000 followers.

For interviews with Bryan Freeman, Executive Chairman, email [email protected]. 

Media Contact

Nikole Johnston

[email protected]

Investor Contact

Chris Bevenour

[email protected]

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SOURCE Real Good Foods

NEW YORK, Jan. 11, 2022 /PRNewswire/ — American Finance Trust, Inc. (Nasdaq: AFIN) (“AFIN” or the “Company”) announced today that it acquired 69 retail properties for a total of $179.9 million¹ during the year ended December 31, 2021, based on contract purchase price. The Company also announced that leases at nine properties in its single tenant portfolio were extended during 2021, adding approximately $7.2 million in net straight-line rent over the new lease terms. Additionally, the Company signed 167 new leases or lease renewals² totaling 1.7 million square feet with tenants in its open-air shopping center portfolio.

“We recorded a strong year with nearly $180 million of retail acquisitions, expanding our necessity-retail focused portfolio of net-leased properties with long-term leases,” said Michael Weil, CEO of the Company. “The properties we acquired last year had a weighted-average cap rate of 8.3%³ and a weighted-average remaining lease term of 13.3 years as of each closing date. Additionally, we continued to be successful in our portfolio-wide leasing initiatives, executing over 175 new or renewed leases representing approximately 8.7% of our portfolio by square feet.”

Mr. Weil continued, “As we look forward to the previously announced $1.3 billion acquisition of open-air shopping centers that we expect to close this quarter, we believe that the superior execution from our team in 2021 plays a critical role in the transformation of the Company into the Necessity Retail REIT: Where America Shops.”

Acquisitions
During the fourth quarter, the Company acquired 13 properties for an aggregate contract purchase price of $28.1 million at a cash cap rate⁴ of 7.1% and a weighted-average cap rate of 8.0% with an average remaining lease term of 18.4 years as of the closing dates, weighted based on square feet. For the year ended December 31, 2021, the Company acquired 69 properties for a contract purchase price of $179.9 million at a going-in cap rate of approximately 7.6% and a weighted-average cap rate of 8.3%.

Leasing
For the year ended December 31, 2021, the Company executed nine lease extensions in the single tenant segment of its portfolio. The leases extended the weighted average remaining lease term for these tenants to 9.8 years from 2.7 years at the time of signing and added net straight-line rent of approximately $7.2 million over the new lease terms.  Total straight-line-rent expected over the duration of these leases is $9.7 million as of the date each lease was executed. The Company also signed 167 new leases or lease renewals associated its open-air shopping centers during the year ended December 31, 2021, totaling 1.7 million square feet.

Footnotes/Definitions

¹ Includes two land parcels adjacent to a property the Company owns

²  Includes short-term leases, license agreements, and deferral and abatement agreements when coupled with an extension

³ Capitalization rate is a rate of return on a real estate investment property based on the expected, annualized straight-line rental income that the property will generate under its existing lease or leases. Capitalization rate is calculated by dividing the annualized straight-lined rental income the property will generate (before debt service and depreciation and after fixed costs and variable costs) by the purchase price of the property, excluding acquisition costs. The weighted-average capitalization rate is based upon square feet.

⁴ Cash capitalization rate is a rate of return on a real estate investment property based on the expected, annualized cash rental income during the first year of ownership that the property will generate under its existing lease or leases. Cash capitalization rate is calculated by dividing this annualized cash rental income the property will generate (before debt service and depreciation and after fixed costs and variable costs) by the purchase price of the property. excluding acquisition costs. The weighted-average cash capitalization rate is based upon square feet

About American Finance Trust, Inc. soon to be rebranded The Necessity Retail REIT Where America Shops
American Finance Trust, Inc. (Nasdaq: AFIN) is a publicly traded real estate investment trust listed on Nasdaq focused on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties in the U.S. Additional information about AFIN can be found on its website at www.americanfinancetrust.com.

Important Notice
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. The words “anticipates,” “believes,” “expects,” “estimates,” “projects,” “plans,” “intends,” “may,” “will,” “seek,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of the ongoing global COVID-19 pandemic, including actions taken to contain or treat COVID-19, on the Company, the Company’s tenants, the assets under contract to be acquired including their respective tenants and the global economy and financial markets and that any potential future acquisition of property is subject to market conditions and capital availability and may not be identified or completed on favorable terms, or at all, as well as those risks and uncertainties set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed on February 25, 2021 and all other filings with the SEC after that date as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports including in particular the Company’s Current Report on Form 8-K dated December 20, 2021 and describing additional facts and risk factors relating to the transaction entered into with certain subsidiaries of CIM Real Estate Finance Trust, Inc. (the “Transaction”) and referenced in this release. In particular, the Transaction is subject to closing conditions, including conditions that are outside of the Company’s control, and the Transaction described in this release may not be completed on the contemplated terms, or at all, or may be delayed. The Company may not be able to obtain financing to complete the Transaction on favorable terms or at all. Forward looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results, unless required to do so by law. 

Contacts:

Investor Relations
[email protected]
(866) 902-0063 

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SOURCE American Finance Trust, Inc.