Mergers & Acquisitions

Shoebuy, a Boston-based e-commerce shoe retailer owned by IAC, has acquired a minority stake in e-commerce boot maker startup Boston Boot Co., marking the company's first foray into the footwear manufacturing business. Terms of the deal weren't disclosed. "Acquiring a minority stake in a shoe company presents us with a unique opportunity to both expand our business into a different side of the footwear industry and to provide a unique value for our customers," said Shoebuy CEO Mike Sorabella in an email. "This provides us with a chance to be innovative and play in the direct-to-consumer space."

The Great Recession hobbled the U.S. economy and crushed many businesses, but some companies thrived, including the so-called "dollar" stores. Shoppers flocked to them because you could buy a lot with not much money. And as the economy rebounds, people are still going to some. But one chain, Family Dollar, hasn't kept pace with its competitors. Shareholders of Family Dollar voted Thursday to sell to a rival chain, Dollar Tree, for $8.7 billion. In doing so, shareholders left a bigger offer from Dollar General on the table, citing antitrust fears. 

Brown Shoe, owner of the Famous Footwear retail chain, sold its Shoes.com online division to a closely held Seattle company pushing into a market led by Amazon.com and Foot Locker. Shoeme, parent of OnlineShoes.com and Shoeme.ca, is purchasing Shoes.com for an undisclosed price, the companies said in separate statements. The web domain name shoes.com alone is worth $630,000, according to siteprice.org, based on search engine visibility and traffic.

Multiple sources have confirmed that Fab is in talks to sell to PCH International for $15 million, and possibly as much as $50 million, in a half cash and half stock deal. Contractual agreements are in the very early stages between the two companies. If it does happen, we've been told that some assets will be rolled into Fab founder Jason Goldberg's new furniture design company Hem and the rest will be taken over by PCH. Fab was once a Silicon Valley darling, raising $165 million (at a $1 billion valuation) just over a year ago. 

San Diego-based pet supply chain Petco is set to buy a competitor, online pet product retailer Drs. Foster and Smith. Petco announced its agreement with the veterinary-owned company on Wednesday. Drs. Foster and Smith, based in Rhinelander, Wis., is widely regarded for its leadership in pet care and education, and its expertise in prescription medications for pets of all kinds.

L'Oreal USA will acquire New York-based omnichannel beauty retailer Carol's Daughter, which sells its products through specialty beauty stores, mass retailers, HSN, e-commerce and two Carol's Daughter-branded stores in New York City. For the 12 months ending Sept. 30, 2014, Carol's Daughter had net sales of $27 million. Carol's Daughter will continue to operate out of its New York City headquarters under the brand's current leadership team.

Conn's, The Woodlands, Texas-based chain that sells home appliances, consumer electronics and furniture, may put itself up for sale or make other big changes to try to increase its valus to shareholders, the company said Monday. "While we remain confident in the company's future prospects and have ample capital and liquidity to execute our business plan, we have decided to conduct a strategic review and explore options to accelerate the realization of value for our stockholders," said Theodore Wright, Conn's chairman and CEO.

Investors embraced shares of Wayfair Inc. in their first day of public trading, driving the stock of the Boston online furniture and home goods retailer up more than 30 percent Thursday. Wayfair raised $319 million Wednesday evening when underwriters priced shares in its initial public offering at $29 each, above initial estimates. The stock jumped as soon as it began trading publicly Thursday and closed at $37.72, giving the company a total market value of $3.1 billion by the end of the day.

RadioShack, the electronics chain trying to stave off bankruptcy, reached an agreement with a consortium led by Standard General LP to refinance about $590 million of loans to restock inventory ahead of the holidays, a person familiar with the matter said. Standard General, a New York-based hedge fund, will lead a group of lenders to refinance debt outstanding under a $535 million asset-backed revolving credit line from GE Capital, the lending arm of General Electric Co., said the person, who asked not to be identified because the negotiations are private. 

Sears, sorely in need of cash, is selling most of its stake in its Canadian unit in an effort to raise up to $380 million. The sale of the majority of its 51 percent stake in Sears Canada Inc. to its own shareholders will give the retailer some breathing room as it heads into the crucial holiday season. The company board approved a rights offering of up to 40 million shares of Sears Canada Inc. Chairman and CEO Edward Lampert plans to fully exercise his subscription rights.