Mergers & Acquisitions

Express Sold for $174M to PHOENIX RETAIL, a Newly Formed Joint Venture
June 17, 2024 at 5:23 pm

PHOENIX RETAIL, a newly formed joint venture comprising mall owners Simon Property Group, Brookfield Properties, Centennial, and brand equity and management firm WHP Global, received court approval on June 15 to acquire most of Express Inc.’s assets out of Chapter 11. PHOENIX will pay about $174 million split between $136 million in cash consideration and…

Retail M&A Outlook Brightens as Dealmakers Operate With More Certainty
June 10, 2024 at 2:25 pm

In 2023, rising interest rates, inflation, and less discretionary spending squeezed some consumer and retail companies. This year, even though some of the same factors are still at play, there is greater stabilization and along with it increased interest in pursuing mergers and acquisitions (M&A) activity. In fact, this activity is already appearing on Datasite’s…

Hanesbrands to Sell Champion to Authentic Brands in $1.2B Deal
June 5, 2024 at 10:31 am

Hanesbrands, the apparel company with several brands within its portfolio, announced Wednesday it had agreed to sell its sportswear brand Champion to another retailer, Authentic Brands, for $1.2 billion. Authentic Brands also owns apparel brands such as Aeropostale, Billabong, Brooks Brothers, Forever 21, Juicy Couture, Lucky Brand, Nine West, Sperry, and Volcom. The sale was…

Outdoor Voices Sold to Consortium Brand Partners
June 4, 2024 at 8:58 pm

Investment firm Consortium Brand Partners announced on Monday that it acquired athleisure brand Outdoor Voices on May 15 for an undisclosed sum. The acquisition comes three months after Sourcing Journal reported that the 10-year-old activewear startup was planning to file for bankruptcy. Once a hit among millennials for its colorful athleisure in its signature geometric patterns,…

UK-Based JD Sports to Acquire Rival Hibbett in $1.08B Deal
April 23, 2024 at 6:02 pm

JD Sports Fashion has proposed to buy American athletic fashion retailer Hibbett Inc for about $1.08 billion, reports Reuters. JD Sports will pay $87.50 per Hibbett share in cash, representing a premium of about 20 percent to the U.S. firm's last closing price. The combined company would have a global portfolio of about 25 brands…

Report: FTC Considering Blocking Tapestry-Capri Holdings Merger
April 17, 2024 at 6:55 pm

The Federal Trade Commission (FTC) is preparing to sue to block a luxury fashion mega merger, Tapestry’s $8.5 billion takeover of Capri Holdings, two people with knowledge of the matter said. The FTC’s five commissioners are expected to meet next week to discuss the case, a move that could precede a formal vote on whether…

The Home Depot Acquiring Supplier to Professional Contractors
March 28, 2024 at 1:19 pm

The Home Depot said yesterday it is acquiring SRS Distribution Inc. (SRS) -- a materials provider across several verticals serving professional roofers, landscapers and pool contractors -- in a deal valued at approximately $18.25 billion. It would be Home Depot's largest acquisition in its history. The home improvement retailer expects the acquisition to close this…

Kroger to Sell Specialty Pharmacy Business Amid Merger Discussions
March 20, 2024 at 12:09 pm

As it faces regulatory scrutiny over its potential merger with Albertsons, grocery chain Kroger has decided to sell off its specialty pharmacy business to CarelonRx, a subsidiary of Elevance Health. In a press release Monday, Kroger said the sale is expected to close in the second half of the year. "As part of our regular…

Macy’s Confirms Receipt of Revised Acquisition Proposal
March 4, 2024 at 11:10 am

Macy's confirmed on Sunday that it received a revised proposal from two of its major investors, Arkhouse Management Co. and Brigade Capital Management, to acquire each of the remaining shares in Macy’s they don’t already own for $24 per share — up from an earlier offer of $21 per share — for a deal value…

FTC Sues to Block Kroger/Albertsons Merger
February 27, 2024 at 3:29 pm

The U.S. Federal Trade Commission (FTC) said Monday it would try to block the merger of two large grocery chains, Kroger and Albertsons, saying it would result in higher prices and lower wages for workers. If successful, the merger would be the largest for supermarkets in history, according to a press release from the FTC.…