Mergers & Acquisitions
Advance Auto Parts, a retailer of automotive aftermarket parts, accessories, batteries and maintenance items, announced that it's entered into a definitive purchase agreement to acquire B.W.P. Distributors, Inc. in an all-cash transaction. BWP, a privately held company that supplies, markets and distributes automotive aftermarket parts and products principally to commercial customers, was founded in 1962 and is based in Armonk, NY. BWP currently operates or supplies 216 locations in Connecticut, Delaware, Maryland, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont.
Seeking to expand its West Coast presence, national chain Vitamin Shoppe said Monday it's reached a deal to buy the assets of Seattle-based competitor Super Supplements for about $50 million in cash. Vitamin Shoppe, a specialty retailer of nutritional products based in North Bergen, N.J., expects to complete the purchase by the end of the month. It operates 17 stores in the Northwest, while Super Supplements has 31 locations in Washington, Oregon and Idaho.
Grainger, a broad line supplier of maintenance, repair and operating products serving businesses and institutions, yesterday announced its intent to acquire Techni-Tool, Inc., and its affiliate Wassco Inc., leading specialist distributors serving manufacturing customers with 2011 sales of $88 million. Grainger expects the transaction to close by Dec. 31, subject to standard conditions, and be neutral to 2013 earnings per share. Terms of the agreement weren't disclosed.
LittleMissMatched, a tween girls apparel and accessories brand, has been acquired by Delta Galil USA. Delta Galil USA is the U.S.-based subsidiary of Delta Galil Industries, a global manufacturer and marketer of branded and private-label apparel products for men, women and children. Founded in 2003 as a line of nonmatching socks sold in odd numbers, LittleMissMatched has evolved into a lifestyle brand that encourages girls of all ages to express their individuality and creativity.
French retail group PPR said on Wednesday its Redcats unit had agreed to sell its plus-size fashion business OneStopPlus Group to private equity firms Charlesbank Capital Partners and Webster Capital for an enterprise value of $525 million. PPR said that the deal, which is expected to close during the first quarter of 2013, marked a further step in the group's transformation into a global luxury, sports and lifestyle retailer.
Google may be gearing up to enter the shipping and logistics business with its recent acquisition of BufferBox, a self-service parcel pickup company, according to rttnews.com. BufferBox allows users to subscribe for single-use services, renting temporary lockers to be used as shipping addresses for more convenient parcel deliveries. It's one of a growing number of temporary locker services, the largest of which is operated by Amazon.com, cnet.com reported. Amazon recently signed deals with Radio Shack and Staples to bring its lockers into their stores, the article reported.
Versa Capital Management, a Philadelphia-based private equity investment firm, has acquired Eastern Mountain Sports (EMS), effective immediately. Terms of the deal weren't disclosed. Mark Walsh, a Versa principal and chairman of Bob's Stores, a northeastern apparel retailer that's part of the Versa portfolio, will serve as chairman of the board of EMS, which operates 69 stores in 12 Eastern states.
Aeropostale, a mall-based specialty retailer of casual and active apparel for young women and men, today announced that it's acquired online women's fashion footwear and apparel retailer GoJane.com. Based in Ontario, Calif., GoJane is a rapidly growing women's fashion retailer, with an extensive footwear assortment and a select offering of fashion apparel and accessories. The company was founded in 1998 by Tony Pang and Kurt Kimura, and generated approximately $19 million in revenue in fiscal 2011.
Burnsville, Minn.-based Northern Tool + Equipment said it's acquiring The Sportsman's Guide, a catalog supplier of outdoor goods based in South St. Paul, Minn. It's also purchasing The Golf Warehouse, an online golf equipment retailer based in Wichita, Kan. Together, the deals are worth $215 million, Northern Tool officials said Thursday, Nov. 8. The deals will transform family-owned Northern Tool and give it nearly $1.5 billion in annual sales. The deal still must be approved by antitrust officials.
Warren Buffett's Berkshire Hathaway is buying Oriental Trading Co., a provider of party supplies, arts and crafts, toys, and other items. Financial terms weren't disclosed. The acquisition is expected to close by the end of this month. Both companies are based in Omaha, Neb.