Mergers & Acquisitions
March 23, 2017 at 1:12 pm
Many in the retail industry were surprised when online startup Jet.com, billed as a potential competitor to Amazon.com for e-commerce supremacy, was sold to Wal-Mart last August for $3.3 billion. The pairing of a cutting-edge digital brand like Jet and a legacy brick-and-mortar retailer like Wal-Mart didn't seem to be the perfect match. Yet seven…
March 23, 2017 at 11:40 am
Amazon.com has acquired another online retailer. Reports say Amazon has agreed in principle to buy Dubai-based Souq.com, one of the best-known names in the Middle East's online shopping market. Souq.com sells consumer electronics, fashion, household items and other goods, and on its website claims to be the largest e-commerce site to the Arab world. Since its founding…
March 22, 2017 at 11:59 am
Wal-Mart has launched a new internal venture — Store No. 8 — meant to create new online business. Store No. 8 will help Wal-Mart build new startups within the company, fostering relationships with entrepreneurs, particularly those in the fields of artificial intelligence, autonomous vehicles and other emerging technologies. This will, in turn, help the retailer…
March 21, 2017 at 10:36 am
PVH Corp., parent company of brands such as Calvin Klein, Tommy Hilfiger, Van Heusen and more, has entered into an agreement to acquire True&Co., a direct-to-consumer intimate apparel e-commerce retailer. True&Co. is changing the way women shop online by redesigning the art of bra shopping. It uses a proprietary fit quiz to recommend bras and other…
March 16, 2017 at 12:52 pm
Changes are happening at ModCloth. Recode reported yesterday that Wal-Mart is acquiring the 15-year-old online retailer. The vintage-inspired clothing brand is being acquired on behalf of Jet.com, Wal-Mart's subsidiary that has been on an acquisition spree over the last 12 months. Over the last decade, ModCloth has gone through many changes. Within the last two years,…
March 16, 2017 at 12:31 pm
1-800-Flowers.com Inc. said Wednesday it agreed to sell its Fannie May and Harry London chocolate brands to Italian chocolatier Ferrero International S.A. for $115 million. Newsday reports the deal by Ferrero, one of the world’s largest chocolate confectionery companies, to buy the two brands is subject to regulatory approvals and is expected to close by May…
March 15, 2017 at 10:18 am
Hudson’s Bay Company is reportedly in talks to acquire struggling Neiman Marcus in a deal that would turn several of the biggest luxury rivals into siblings. Saks Fifth Avenue, Lord & Taylor and Neiman Marcus would all be owned by the same company if this deal goes through. Neiman Marcus, which said earlier this week that…
March 7, 2017 at 11:30 am
The Finish Line wound up selling JackRabbit, its unprofitable specialty running business, for a purchase price of “zero,” according to a regulatory filing. The business, which includes 65 stores operating under a number of banners, was sold to CriticalPoint Capital, LLC, the Los Angeles-based private investment firm. The deal was first announced on Jan. 27, and…
March 6, 2017 at 9:56 am
Popeyes Louisiana Kitchen Inc. CEO Cheryl Bachelder will step aside when the fried chicken chain is sold to Restaurant Brands International Inc. for $1.8 billion. Bachelder is one of metro Atlanta’s few female CEOs. Bachelder joined Popeyes in 2006 as a member of the company's board of directors. In November 2007, she was named CEO and is credited with heading a…
February 20, 2017 at 11:51 am
Clothing firm Sunrise Brands LLC has bid for the e-commerce business and intellectual property of bankrupt U.S. retailer The Limited, challenging a $26.3 million offer from private equity firm Sycamore Partners. The Limited was forced to close its 250 brick-and-mortar stores earlier this year and filed for bankruptcy last month, with Sycamore Partners as the initial…
