Mergers & Acquisitions

New York -- Starwood Capital Group LLC, the investment firm headed by real estate developer Barry Sternlicht, has joined the bidding for Saks Inc., according to a report by the New York Post. Starwood Capital invests in retail, office and residential real estate.

The bid by Starwood is worth about $2.5 billion, or $17-$18 per share, according to the report. The amount is roughly equal to a previously existing bid from Canadian retail conglomerate Hudson’s Bay, which also owns the Lord & Taylor department store chain.

Digital coupons could be poised for greater growth judging from the warm reception industry leader RetailMeNot got when it offered shares to the public last week.

Shares of RetailMeNot surged 30% in the first hours of trading to more than $27 per share, representing a market cap of more than $1.3 billion, according to Norwest Venture Partners, a multi-stage investment firm which has a 20.5% stake in the company.

LOS ANGELES — Ergobaby has named former VP of digital at Mattel and group strategy director at the DuMont Project, Cynthia Neiman, as the company’s CMO.

Neiman has more than 20 years of experience developing multichannel marketing strategies for both global corporations and internet startups. In addition to developing digital strategies for leading brands and retailers at digital consultancy the DuMont Project, Neiman also boasts deep experience in many consumer products categories including infant, pre-school, digital games and pets. 

Warren, Mich. — Michigan-based Art Van Furniture opened its first out-of-state retail store in Orland Park, Ill., last week with a Motown-themed grand opening celebration.

The new 47,000-sq.-ft. location heralds the opening of five more Art Van stores in the Chicago region in coming months. Locations include Ford City-Chicago, Batavia, Elston Avenue-Chicago and Merrillville-Hobart, Indiana. The new stores will add 600 new jobs to the region.

Grand Rapids, Mich. -- Spartan Stores and Nash Finch Company on Monday announced that they have entered into a definitive merger agreement under which Spartan Stores and Nash Finch will combine in an all-stock merger valued at approximately $1.3 billion, including existing net debt at each company.

Nash Finch, which had revenues of about $4.8 billion last year, will become a subsidiary of Spartan Stores, which had revenues of $2.6 billion.

DALLAS — Kimberly-Clark Corporation’s net sales for the second quarter ended June 30 were flat at $5.27 billion compared to the year-ago period. 

Sales adjusted to exclude the impact of changes in foreign currency exchange rates and lost sales as a result of European strategic changes and pulp and tissue restructuring actions rose 3.

ATLANTA — Coca-Cola's board of directors has appointed Brent Hastie as the company's VP. Hastie was recently named VP of strategy and planning, which became effective just a few days ago.

Toronto – Shoppers Drug Mart enjoyed a successful second quarter of fiscal 2013, reporting increases in net earnings, sales and same-store sales. Net earnings totaled up $141.8 million USD, up about 1% from $139.9 million in the same quarter a year earlier. Sales were about $2.45 billion, a 3.3% boost from the previous year. Same-store sales rose 2% during the quarter.