Mergers & Acquisitions
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…
August 3, 2015 at 2:10 pm
Yahoo announced via blog post that it will acquire social fashion and shopping startup Polyvore. The terms of the deal haven't been disclosed. “Polyvore is a leading social shopping site that enables its users across the globe to shop their favorite products, discover new inspiration and express their style. The acquisition will accelerate Yahoo’s digital content…
July 30, 2015 at 2:42 pm
Amid a wave of store closings, a couple of mid-market apparel retailers have found new owners and are mapping out a turnaround strategy, banking on bucking the trend of shrinking fashion chains. Men’s clothing retailer Grafton Fraser Inc., which runs Tip Top Tailor, said Wednesday it has acquired 35 Jones New York women’s wear stores…
July 29, 2015 at 3:08 pm
The TJX Companies today announced that it's signed a definitive agreement to purchase Trade Secret, an off-price retailer that operates 35 stores in Australia, from Gazal Corporation Limited for a purchase price of (AUD) $80 million. The potential acquisition of Trade Secret provides TJX an opportunistic entry into Australia, where TJX currently operates one of…
July 22, 2015 at 2:04 pm
Home Depot said Wednesday that it agreed to acquire Jacksonville, Fla.-based Interline Brands Inc., a national distributor and direct marketer of broad-line maintenance, repair and operations (MRO) products, for $1.625 billion in cash, subject to customary adjustments. The acquisition has been approved by the shareholders of Interline. It is expected to be completed during The…
July 21, 2015 at 2:02 pm
E-commerce giant eBay has acquired secondhand clothing seller startup Twice, Re/code reported Monday. Twice, one of Inc. Magazine’s 30 under 30 companies this year, allows sellers to ship a box of clean used clothes to the company. Twice offers a single price for the entire contents of the box and if the sellers accept, the…
July 21, 2015 at 1:48 pm
Though C. Wonder filed for bankruptcy in January, the preppy retailer's narrative isn't quite done. On Friday, Xcel Brands announced that it's entered an agreement to acquire C. Wonder's intellectual property rights, trademarks and related designs. Until now, those assets were controlled by C. Wonder founder Chris Burch (also the ex-husband of Tory Burch), who…
July 14, 2015 at 2:17 pm
Books-A-Million said Monday it's agreed to be acquired by a newly organized entity created by the Anderson family, including Books-A-Million Executive Chairman Clyde B. Anderson. Holders of Books-A-Million stock, excluding the Anderson family and some management team members, will get $3.25 per share. The stock closed at $2.60 on Monday. The deal comes after the…
