Mergers & Acquisitions

CINCINNATI and MATTHEWS, N.C. — Kroger, already one of the world’s largest retailers, is about to get even larger. The company plans to purchase all outstanding shares of Harris Teeter Supermarkets for $49.38 per share in cash. 

The merger agreement not only allows Kroger to expand its brands portfolio but also allows it to expand its market with a complementary base of 212 stores, of which 147 have pharmacies, in Southeastern and mid-Atlantic markets and in Washington, D.C.

New Orleans -- Smoothie King Franchises is targeting the Jacksonville, Fla., metro area to kick off a major expansion calling for 1,000 new franchised and corporate locations over the next five years.

With seven stores in Jacksonville, the company plans to add 10 new locations there over the next three years.

To fuel the national expansion drive, Smoothie King is offering candidates 40% off of its initial franchise fee for the first 40 agreements of 2013 — a savings of $10,000.

FAIRFAX, Va. — Geeknet, the parent company of online retailer ThinkGeek.com, has appointed Julie Pangelinan as the company’s CFO, effective Aug. 12.

Pangelinan has more than 25 years of operations and financial experience, most recently as CFO of Interstate Hotels and Resorts and Sunrise Senior Living.

CINCINNATI — Market6, a leading provider of Web-based retail analytic applications, has appointed software industry veteran Ray B. Tacoma to the company’s board of directors.

Tacoma has more than 25 years of senior management experience with organizations such as Netezza, MicroStrategy, FileNet and Oracle. The board will look to Tacoma to provide it with extensive domain and industry knowledge so it can optimize Market6’s strategy and execution as it provides retailers and consumer goods companies with SaaS-based retail analytic applications.

Cincinnati -- The Kroger Co. has reached an agreement to purchase all outstanding shares of Harris Teeter Supermarkets for $49.38 per share in cash, or about $2.5 billion. Kroger will finance the transaction with debt and also assume about $100 million of debt from Harris Teeter.

Harris Teeter operates 212 stores in North Carolina, Virginia, South Carolina, Maryland, Tennessee, Delaware, Florida, Georgia and the District of Columbia primarily in the Carolinas. The company had revenues of approximately $4.5 billion for fiscal year 2012.

PAWTUCKET, R.I. — Hasbro has acquired a majority stake in Backflip Studios, a company that develops mobile games such as DragonVale, NinJump and Paper Toss.

Denver -- Natural Grocers has opened its third Nebraska store in central Omaha, Neb. It is the second Omaha store and the 89th store in the organic grocery chain.

The family-run chain, which went public in 2012, has locations across Colorado, Texas, Utah, Wyoming, Oklahoma, Missouri, New Mexico, Montana, Kansas, Idaho, Nebraska, Arizona and Oregon.

New York -- Jones Group Inc. has tapped Citigroup Inc. to explore a possible sale, according to Reuters.
 
In April, Jones Group said that it would close 170 stores and cut 8% of its workforce after first-quarter profit was less than analysts’ estimates. The news comes just months after activist hedge fund

The company, whose brands include Stuart Weitzman, Jones New York, Easy Spirit, and Nine West, had a market value of about $1.2 billion as of July 5.