Mergers & Acquisitions

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.

The adidas Group and Adams Golf today announced that the TaylorMade-adidas Golf business segment has entered into a definitive agreement to acquire all of the outstanding shares of Adams Golf for $10.80 per share in cash. The transaction value is approximately $70 million, which represents a premium of approximately 71 percent to the share price prior to Adams Golf's announcement that it was examining strategic alternatives on January 4, 2012.

Swiss watchmaker Swatch Group and U.S. luxury goods producer Tiffany & Co. are claiming damages from one another in the wake of a failed alliance. The two companies formed an alliance in late 2007 to spur the development, production and global distribution of Tiffany brand watches. The alliance, which included setting up Tiffany Watch Co, ended last September. This was due to a breach of contract by Tiffany, Swatch said, adding that the damages sought include a claim for lost profits. Following the breakup, Tiffany Watch Co. will wind down its business over two years.

The merger between two Midwest-based general merchandise retail chains, Shopko and Pamida, is now complete, creating one of the largest U.S. retailers focused on serving smaller, rural communities.

Tractor Supply Company, the largest retail farm and ranch store chain in the U.S., announced that effective Feb. 15, Gregory A. Sandfort assumed the title of chief operating officer in addition to his role as president.

eBay has agreed to buy WHI Solutions, which provides software and digital catalog solutions for auto parts distributors and retailers. Financial terms weren’t announced. 

Australian swimwear and surfing goods maker Billabong rejected a $766 million takeover proposal from TPG Capital and countered by announcing the sale of part of its youth brand Nixon, among other moves to cut debt and boost its performance. 

Perry Ellis International announced that it's completed the purchase of the intellectual property rights of the Ben Hogan family of brands from Callaway Golf Co. Perry Ellis will also assume all license arrangements, including South Korea and Japan, for apparel and accessories under the Ben Hogan brand name.