Mergers & Acquisitions

WAYNE, N.J. — Toys “R” Us plans to open more than 100 stores, including new locations, the relocation and conversion of 14 stores to its side-by-side format and 22 new licensed stores. The openings represent the net addition of more than 900,000 sq. ft. of retail space to the company’s store portfolio.

Target stores in the French-speaking Canadian province of Quebec will feature pharmacies under the Brunet banner based on an agreement reached with the McMahon Distributeur pharmaceutique division of Canadian food and drug retailer Metro, Inc.

The agreement comes as Target is preparing to open the first of 25 stores this fall in Quebec. Target entered Canada earlier this year and plans to open a total of 124 stores in its first year of operation.

Mississauga, Ontario -- Target Corp. is partnering with Metro Inc. subsidiary McMahon Distributeur pharmaceutique Inc. regarding the operation of in-store pharmacies at Target locations across Quebec. The partnership under McMahon's Brunet banner will provide pharmacies in the majority of Quebec store locations.

Canton, Mass. -- Dunkin' Donuts announced the signing of a multi-unit store development agreement with existing franchise group Travel Mart for seven new restaurants in La Crosse and Eau Claire, Wis.

The first restaurant is planned to open in 2014 and the remainder by 2020.

BOSTON, Mass. — Brand Networks, a leading integrated social software solutions and digital marketing services provider, has made additions to its executive team as part of the company’s strategy to accelerate expansion. 

BENTON HARBOR, Mich. — Whirlpool Corporation has entered into agreements to become a majority shareholder in Hefei Rongshida Sanyo Electric Co. Ltd., a leading home appliances manufacturer based in Hefei, China.

Through this transaction, a Whirlpool Corporation subsidiary will acquire all shares currently owned by Sanyo Electric Co. Ltd. and Sanyo Electric Co. (China) Ltd., and purchase new Hefei Sanyo shares via a private placement.

New York -- J.C. Penney Co. announced that activist investor and hedge fund manager Bill Ackman has resigned from the board of directors of the company, effective Aug. 12. His resignation comes in the wake of a very public and heated campaign in which he called for the ouster of Penney interim CEO Myron Ullman and chairman Thomas Engibous.

Hilton Head Island, S.C. — SERG Restaurant Group has announced that it has signed a letter of intent to create of a new restaurant for Shelter Cove Town Center. The concept for the new restaurant has been in development for three years and will open in 2014. Details were not announced.