Mergers & Acquisitions
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.…
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…
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…
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…
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…
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,…
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…
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…
Canadian apparel maker Gildan Activewear has won a bankruptcy auction for American Apparel after raising its offer to around $88 million, a person familiar with the matter said Monday. Gildan's takeover marks the end of an era for the iconic Los Angeles-based company, which was founded in 1998 by an eccentric Canadian university drop-out and grew to become…
Jet.com, the Amazon.com rival owned by retailing giant Wal-Mart, bought online footwear retailer ShoeBuy for $70 million, the company said Thursday. The move underscores Wal-Mart's continued push against Amazon, owner of online shoe store Zappos. The biggest retailer in the world, Wal-Mart made online expansion its priority last year, acquiring Jet.com for $3.3 billion and setting…