International Business

Atlanta -- Teavana Inc. on Monday said it will buy Canadian tea retail chain Teaopia Ltd. for $26.9 million in cash. It is Teavana's first major acquisition since it went public last year.

Teaopia operates 46 stores, primarily in high-end malls across Canada and online. Last year it generated net sales of approximately $17 million and opened 12 stores.

Teavana operates 200 company-owned stores in 39 states, including one store in Canada, and 18 franchised stores primarily in Mexico, as well as through its website.

BENTONVILLE, Ark. — Significant waste reduction and greater use of renewable energy are detailed in Walmart’s just-released fifth annual Global Responsibility Report (GRR). Entitled “Beyond 50 Years: Building a Sustainable Future,” the report highlights the chain’s global top 10 list of achievements to reduce its impact on the environment, improve efficiency in its supply chain and stores, and address social issues.

There’s no doubt that Canada is very much on the minds of U.S. retailers these days. As our cover story points out, Canada is attractive for a number of reasons, from its growing population to its resilient economy. But there is plenty of expansion going on here at home too. The extent of the activity is detailed in the “Spring 2012 Retailer and Restaurant Expansion Guide” from ChainLinks Retail Advisors. The comprehensive report, which details the current expansion plans for more than 2,500 U.S.

Relocating a business and a family from Memphis, Tenn., to St. Petersburg, Fla., is a short distance in miles, but for The Sembler Co., which celebrates its 50th anniversary this year, the journey has been much longer.

“We have developed 350 projects, including 125 or 130 shopping centers,” said Mel Sembler, recently named chairman emeritus. “It’s been an interesting career.”

JAKKS Pacific Inc., appointed Carmine Russo president of its international division with responsibility for growing international sales and overseeing marketing, advertising, promotions and distribution operations across all product divisions.
 

Bentonville, Ark. -- Wal-Mart Stores announced that its board of directors has nominated Marissa A. Mayer of Google Inc., for election as a new member of the company’s board at Walmart’s Annual Shareholders’ Meeting on June 1, 2012. If elected, Mayer would become the sixteenth member of the board.

Editor’s note: Chain Store Age’s 23rd annual survey of Fastest-Growing Acquirers measured retail square footage purchased during the 2011 calendar year.

For some companies, being among the top acquirers of shopping centers almost is business as usual — top-ranked Inland Real Estate is a perennial leader, largely through avidly scouring daily for possible deals, while Kimco maintained its focus on top projects in top markets.

BENTONVILLE, Ark. — The Walmart board of directors is poised for an infusion of fresh, and young, talent when shareholders vote to approve a slate of directors that includes Google’s VP of local and maps.