Mergers & Acquisitions

HSN announced that it's acquired Chasing Fireflies, a direct-to-consumer premium children's and family lifestyle brand, through HSNI's operating segment, Cornerstone Brands. The acquisition allows HSNI to participate in a fast-growing business with unique and proprietary products, customer loyalty, and high digital penetration. Terms of the transaction weren't disclosed.

Fossil announced that it's completed, effective April 2, the previously announced acquisition of Skagen Designs and certain of its international affiliates for $231.7 million in cash, which includes a working capital adjustment of approximately $6.7 million, and 150,000 shares of Fossil, Inc. common stock. In addition, the sellers may receive up to 100,000 additional shares of Fossil common stock if Fossil's net sales of Skagen-branded products exceed certain thresholds. Skagen Designs manufactures, markets and distributes watches, jewelry, sunglasses and clocks. 

Struggling beauty products seller Avon Products on Monday rejected a buyout offer worth about $10 billion from fragrance maker Coty Inc. Coty went public with the bid for Avon on Monday. It said the offer was an increase from a previous bid of $22.25 per share. The new offer is a 20 percent premium to Avon's Friday closing price of $19.36. But Avon said Monday that the offer is basically the same as Coty's previous one. Avon said its board still believes Coty's offer is not in the best interest of shareholders and that it undervalues the New York company.

Hallmark Cards announced the acquisition of SpiritClips, a broadband subscription-based online video service and film production company that offers heartwarming short films, family-friendly movies and documentaries. Based in Los Angeles, this small startup business was founded in 2007 by Rob Fried, an Academy-award winning producer and studio executive, whose many films include "Rudy" and "Hoosiers." Fried will continue in his current capacity as SpiritClips CEO, and the firm will remain in California. 

After much speculation, Michaels Stores confirmed that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. According to the filing, the company proposed to raise $500 million in the IPO. The number of shares to be sold and the price range for the proposed offering haven't yet been determined.

_ EXCLUSIVE Eddie Lampert is cleaning out the closet at Sears, and hes not feeling sentimental about Lands End. The number-crunching hedge-fund tycoon who, as chairman of Sears Holdings, has lately been scrambling to raise cash amid heavy losses at the Sears and Kmart retail chains has quietly been shopping the Dodgeville Wis. mail-order catalog to potential buyers, The Post has learned. Lampert, who inherited Lands End when he took control of Sears in 2005 by merging it with Kmart, has approached a handful of private-equity firms as he looks to raise as much as $2 billion in cash,

Meijer, the Grand Rapids, Mich.-based retailer, announced today the acquisition of plant operations at Bareman's Dairy, a local family-owned company based in Holland, Mich. Meijer's move into dairy production will also include a more than $8 million investment to expand the Bareman's dairy plant in Holland, Mich. "This is an exciting day for our company," said Co-Chairman and CEO Hank Meijer. "As Meijer continues to grow, it's crucial we invest in the operations that will help us keep our promise of higher standards and lower prices to our customers. Expanding into dairy operations will do just that."

United Retail Group, owner of the Avenue brand of women’s fashion apparel, announced that it's seeking court approval for the acquisition of its operating business by an affiliate of Versa Capital Management. Pending court approval by the U.S. Bankruptcy Court for the Southern District of New York and the successful closing of the transaction, Versa, a private equity firm with significant experience in revitalizing retail operations, has agreed to acquire a majority of the company's operating assets and to assume certain liabilities all as set forth in an asset purchase agreement signed on Feb. 1, 2012.

eBay will sell Rent.com to Primedia, a resource for apartment and rental home information and listings. Rent.com launched nationally in October 2001, and eBay acquired the classified site in 2005 for approximately $415 million ($385 million in stock and $30 million in cash). eBay released a statement saying it was divesting itself of Rent.com "because it had limited synergies with our core businesses as we focus on enabling commerce for buyers and sellers globally through platforms, payments and technology."

Amazon.com is making its biggest acquisition since the 2009 purchase of Zappos.com, agreeing to pay $775 million for Kiva Systems Inc., a maker of robots that move items around warehouses.