Mergers & Acquisitions
February 17, 2017 at 11:46 am
Walgreens’ $10 billion acquisition of Rite Aid is nearing approval by federal regulators, sources say. Reports say the $91 billion chain is optimistic about the new package of stores it's selling to regional pharmacy chain Fred's. The parties involved are hopeful the Federal Trade Commission will approve the deal in the next two weeks to…
February 15, 2017 at 4:38 pm
Wal-Mart announced that it’s acquiring outdoor retailer Moosejaw for about $51 million in an all-cash deal. Moosejaw is headquartered in Madison Heights, Mich., and operates 10 store locations in that state, as well other stores in the Midwest. Wal-Mart is allowing the outdoor retailer to continue to operate its website and stores as a standalone…
February 15, 2017 at 12:05 pm
BJ's Wholesale is reportedly making some changes. Reports say Leonard Green & Partners LP and CVC Capital Partners Ltd., the private-equity owners of warehouse retailer BJ’s Wholesale Club, are prepping for a possible sale or initial public offering. If conversations progress, The Wall Street Journal reported an IPO would likely happen in the second half of 2017.…
February 10, 2017 at 11:08 am
The Bass Pro Shops-Cabela’s merger may be on hold. The Federal Trade Commission (FTC) has sought more information regarding the transaction, delaying the potential closing deadline. This has now jeopardized the sale of Cabela's financial arm to Capital One. Capital One agreed to pay about $200 million to originate and service Cabela's co-branded credit card…
February 7, 2017 at 1:36 pm
The sale of Nasty Gal Inc. to British e-tailer Boohoo.com for $20 million is going forward after the bankrupt fast-fashion company failed to attract any other qualified bids, the companies announced Monday. Manchester, England-based Boohoo put in a stalking horse bid for Nasty Gal in December. An auction through the U.S. Bankruptcy Court had been scheduled…
February 3, 2017 at 11:42 am
Hudson's Bay Company, the owner of Saks Fifth Avenue and Lord & Taylor, is reportedly in talks to acquire Macy's, the largest department store chain in the U.S. Sources close to the matter said the talks are at an early stage, and may not lead to a deal. One of these sources told The Wall Street…
January 30, 2017 at 2:10 pm
Walgreens Boots Alliance and Rite Aid are revising their proposed merger, cutting it back more than $2 billion from the original purchase price and pushing the closing date back six months while they await regulatory approval. The tentative deal, which was supposed to close Friday, is now scheduled to close July 31 to give the…
January 23, 2017 at 12:03 pm
Pep Boys announced this morning the purchase of privately held Just Brakes, an automotive repair and maintenance chain, increasing the number of Pep Boys auto service locations to over 900 locations. Just Brakes, in business for 36 years, has 134 locations and operates in eight states and 14 major metro markets. Total Retail's Take: Pep Boys,…
January 23, 2017 at 11:43 am
Walgreens Boots Alliance said on Friday it would not comment on reports that the Federal Trade Commission may take longer to approve its acquisition of Rite Aid. Bloomberg News was first to report that “FTC lawyers aren’s sold on Walgreens' proposal to sell 865 drugstores to Fred’s, Inc.” Bloomberg cited two people who asked the…
January 19, 2017 at 10:29 am
Nine West Holdings, Inc. announced this week that is has entered an agreement to acquire Kasper Group, an affordable, wear-to-work clothing retailer for women. Its apparel is sold under the flagship Kasper as well as other brands such as Anne Klein and Evan-Picone. "The Kasper Group is a profitable wholesale business that we anticipate will make…
