Mergers & Acquisitions
JustFab, a fashion retail and styling platform, announcing that it's purchased children's fashion brand and personalized e-commerce service FabKids. Financial terms weren't disclosed. The kid-focused e-commerce site was launched by ShopStyle founder and serial entrepreneur Andy Moss, and mom and actress Christina Applegate, in August 2012. Instead of offering a box of separates shipped monthly, FabKids sends out one complete outfit it's designed in-house and personalized to the child, based on a custom profile filled out at sign-up.
For Totsy, the business of selling apparel and accessories to expecting parents and their growing families via flash sales was good in 2012; apparently so good that it's acquiring the assets of Mamasource, a deals site for moms. The terms of the acquisition, announced this morning, weren't disclosed. But in an interview with Upstart Business Journal, Totsy Co-Founder and CEO Guillaume Gauthereau said the three-year-old startup has been looking for a company to acquire for some time and that its goal was pure and simple: growth, as in 2 million additional members and all the revenue that comes with it.
Luxury bedding company Cuddledown Inc. has been acquired by American Capital Ltd.'s Potpourri Group, a specialty catalog company. Terms of the deal weren't disclosed. American Capital, a publicly traded private equity firm, said the transaction was completed in December. The deal marks the second acquisition of a Maine-based company by the Potpourri Group in recent months. In June, it acquired FetchDog, a dog accessories catalog and internet site co-founded by actress Glenn Close and her husband, David Shaw.
While Times Square was preparing to drop a ball and Kimye was preparing to drop a bomb on New Year's Eve, Gap was finalizing the details of its acquisition of specialty retailer Intermix. WWD reports that the deal, which fueled some rumors and speculation last month, closed on Dec. 31 to the tune of $130 million. The partnership should aid both brands: Intermix can use Gap's massive reach to grow its own retail and e-tail presence, while Gap can benefit from Intermix's expertise in the contemporary luxury market. But most exciting: Gap also intends to beef up Intermix's website with some innovative-sounding improvements.
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.