Mergers & Acquisitions

True Value Files for Bankruptcy, Sells Itself to a Rival
October 14, 2024 at 2:58 pm

True Value, a 75-year old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday. In a press release, True Value said it will continue day-to-day operations of selling hardware and other homeware tools to its 4,500 independently operated locations during the Chapter 11…

Tempur Sealy to Divest More Than 100 Stores in Bid to Close Mattress Firm Deal
September 23, 2024 at 6:45 pm

Tempur Sealy International said on Monday it plans to sell more than 100 stores in a bid to get regulatory approval for its $4 billion deal with Mattress Firm. Tempur Sealy's merger with Mattress Firm, which would create a combined business of about 3,000 stores globally, raised concerns about price hikes and job losses and…

LL Flooring Finds Last-Minute Buyer, Business to Remain Open
September 11, 2024 at 10:19 am

After securing a last-minute buyer, LL Flooring is reversing course on shutting down all of its stores. The hardwood flooring retailer formerly known as Lumber Liquidators signed an agreement with private equity firm F9 Investments for a sale of its business on Friday afternoon. Under terms of the deal, expected to close by the end of September,…

Nordstrom Proposes $3.8B Deal to Go Private
September 4, 2024 at 7:04 pm

Nordstrom is looking to go private, with members of the Nordstrom family offering $3.8 billion to seal the deal, according to a report from The Seattle Times. Nordstrom CEO Erik Nordstrom and his brother Pete, who serves as president of the company, announced Wednesday they had been exploring ways to take the upscale department store…

Kroger Sues FTC, Calling its In-House Judges Unconstitutional
August 19, 2024 at 7:24 pm

Kroger sued the U.S. Federal Trade Commission (FTC) on Monday, seeking to block the regulator from reviewing the grocery chain's proposed $25 billion merger with smaller rival Albertsons in its in-house tribunal. Kroger called the tribunal unconstitutional, saying the matter should be resolved in a federal court. The lawsuit filed in Cincinnati comes a week…

Under Armour Acquires Sustainable Fashion Brand, Announces C-Suite Shakeup
August 6, 2024 at 9:11 pm

Under Armour, Inc. is appointing Eric Liedtke as executive vice president of brand strategy following the completion of its acquisition of Unless Collective, Inc., a zero-plastic regenerative fashion brand. The transaction is expected to be completed later this week. After a 26-year career at Adidas Group, culminating in roles as brand president and executive board…

Saks to Acquire Neiman Marcus
July 5, 2024 at 11:53 am

The parent of Saks Fifth Avenue sealed a $2.65 billion deal to buy rival Neiman Marcus, according to people familiar with the matter, creating a powerhouse in luxury retailing that seeks to hang onto wealthy shoppers — all with a little help from Amazon.com. Amazon and Salesforce will take minority stakes in the combined company, to…

FullBeauty Brands Acquires Plus-Size Brand Avenue
June 20, 2024 at 5:15 pm

FullBeauty Brands earlier this week announced that it will acquire Avenue Stores from City Chic Collective Limited, an Australian publicly traded company. Terms were not disclosed. Avenue is a U.S.-based digital specialty retailer of plus-size apparel, targeting value-conscious women aged 25 to 55. The plus-size brand closed its 220-plus store portfolio across 35 states in…

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…