Mergers & Acquisitions

Saatchi & Saatchi New York and J.C. Penney have officially parted ways, ending a five-year relationship that birthed a new image of the retailer, transforming it from stodgy into a fresh-faced purveyor of affordable clothes for American families. The alliance, which had its roots in a meeting of the minds between the retailer and Saatchi chief Kevin Roberts, resulted in some memorable work.

Lowe’s has acquired ATG Stores, an online retailer of home improvement and lifestyle products based in Kirkland, Wash. According to Lowe’s, the transaction will add depth and expertise to its online business.

Perfume and fragrance retailer Perfumania announced Dec. 23 that it will acquire Parlux Fragrances Inc. in a deal valued at $170 million. Parlux, based in Ft. Lauderdale, Fla., manufactures and distributes fragrances and beauty products, and is one of Perfumania's largest trading partners.

Research In Motion has turned down takeover overtures from Amazon.com and other potential buyers because the BlackBerry maker prefers to fix its problems on its own, according to people with knowledge of the situation.

FromYouFlowers.com, a retailer of flowers and gifts, announced the acquisition of SendFlowers.com from Stanley's Flowers, a fourth generation family florist. By adding one of the flower industry's most recognizable names and leading URLs, FromYouFlowers.com will look to extend existing growth initiatives and customer service goals.

Facebook has acquired location-sharing service Gowalla for an undisclosed sum, according to a source close to Gowalla. Facebook declined to comment on the deal.

The Golf Warehouse announced that it's partnered with Austad’s Golf, forming a powerful collaboration between two leaders in the golf industry. The Golf Warehouse and Austad’s Golf are two of the most well-known golf retailers who have built solid business models by focusing on excellent product selection, affordable pricing and outstanding customer service.

In the latest acquisition by its digital technology division, Wal-Mart has acquired Grabble, an Australian technology startup that's developed a smartphone-friendly point-of-sale app which allows retailers to send digital receipts to customers' mobile devices.

Sally Beauty has acquired Netherlands-based Kappersservice Floral and two related companies, Hair Zone and Exphair, as part of the company’s international growth strategy.

Sycamore Partners, a private equity firm based in New York, and Limited Brands announced that Sycamore has acquired a controlling 51 percent interest in Mast Global Fashions, the third-party apparel sourcing division of Limited Brands.