Mergers & Acquisitions
September 21, 2015 at 10:50 am
Petco Holdings Inc is exploring the possibility of being acquired by PetSmart Inc, according to people familiar with the matter, in a merger that could create a company that accounts for 30 percent of U.S. pet specialty supplies stores. The preliminary talks between the two private equity-owned companies come after PetSmart ruled out a deal with…
September 14, 2015 at 10:26 am
A 116-year-old name in retail and one of the oldest continuously operating western wear brands is going away this fall. Sheplers stores are being rebranded as Boot Barn, and the changeover is expected to be completed by Thanksgiving, said Boot Barn Vice President Jayme Maxwell. Irvine, Calif.-based Boot Barn purchased Wichita, Kansas-based Sheplers in June for $147…
September 9, 2015 at 11:15 am
The Federal Trade Commission (FTC) is stepping up its probe of Staples Inc.’s takeover of rival Office Depot Inc., seeking sworn legal declarations that could be used if antitrust enforcers decide to challenge the deal, according to people contacted by the agency. The requests for sworn statements from other market participants about the deal’s impact on the…
September 3, 2015 at 11:17 am
Net-a-Porter founder Natalie Massenet said she plans to explore “new ideas and opportunities” after resigning from the online fashion retailer she founded 15 years ago. “My entrepreneurial drive is as strong today as it always has been, and my passion for innovation will continue to be my greatest guide in business,” Massenet said. Massenet’s departure comes as…
September 2, 2015 at 12:09 pm
The small grocery store chain Haggen on Tuesday sued Albertsons for more than $1 billion in damages, alleging the supermarket giant engaged in systematic efforts to eliminate it as a viable competitor in five states. The lawsuit, filed in federal court in Delaware, accuses Albertsons of anti-competitive practices. Haggen, based in Bellingham, Wash., says those efforts…
August 25, 2015 at 11:39 am
U.S. antitrust officials examining Staples Inc.’s planned takeover of Office Depot Inc. are zeroing in on the sale of office supplies to large corporate customers, according to three people familiar with the matter. While consumers can pick up paper and pens anywhere, there are fewer suppliers that can serve companies that buy products in large quantities…
August 25, 2015 at 11:23 am
Montvale, N.J.-based Great Atlantic & Pacific Tea Company (A&P) received approval from the bankruptcy court Monday to sell prescription records and inventory from 12 supermarket pharmacies to the Rite Aid drugstore chain for approximately $8.1 million. The 12 supermarket pharmacies included in the sale are at 25 stores that A&P earmarked for immediate closings when it…
August 24, 2015 at 11:39 am
Charlotte, N.C.-based Belk Inc. has agreed to be purchased by New York-based private equity firm Sycamore Partners for $3 billion, including the company’s debt. The deal effectively ends local control of the 127-year-old company that began in downtown Monroe, N.C. and grew into the largest family-owned department store chain in the country. Belk said Monday…
August 20, 2015 at 3:02 pm
The digital payments giant makes a move in this suddenly hot of e-commerce area. PayPal has bought mobile commerce startup Modest, marking the digital payment giant’s first acquisition since spinning out of eBay last month. Modest, which premiered publicly earlier this year, helps merchants create mobile apps for their stores. “Mobile commerce sucks, and we…
August 17, 2015 at 3:49 pm
The owner of QVC is buying online flash-deal business Zulily in a cash-and-stock deal valued at approximately $2.32 billion. While Zulily's sales topped $1 billion last year, its growth has slowed and its shares have been in decline since February of last year. The per-share price paid by QVC is below the $22 Zulily got…
