Mergers & Acquisitions

SAN FRANCISCO — Gap has added one more brand to its existing portfolio, purchasing Intermix Holdco for approximately $130 million in cash.

Intermix is a New York-based multi-brand specialty retailer of luxury and contemporary women’s apparel and accessories. It operates 32 boutiques across North America, along with an e-commerce site, offering a mix of luxury brands, including up-and-coming designers. Gap intends to expand Intermix’s network of stores, as well as add significant visibility and enhancements to its online site.

New York -- The battle between Macy’s Inc., J.C. Penney Co., and Martha Stewart Living Omnimedia Inc. will go to trial Feb. 19, Bloomberg reported.

A New York State judge on Thursday said he case will not be tried before a jury and there will be no need to decide damages.
 
Instead, any potential damages in the dispute “are going to pale in comparison to the injunction,” the judge said. “That’s the real big bucks there -- if I stop this deal.”

HUNTINGTON BEACH, Calif. — Former Disney executive Andy Mooney has been appointed as president and CEO of Quiksilver. He succeeds Quiksilver’s co-founder Bob McKnight, who has been named executive chairman. Mooney will also join the board of directors.

The changes in leadership will become effective January 11.

GARNER, N.C. — Butterball has moved to diversify its product portfolio with the acquisition of family-owned and operated Gusto Packing Co., located in Montgomery, Ill.

Gusto Packing Co. offers six basic product lines: Hickory & Apple Wood Smoked Bacon, Bone-In Smoked Pork & Turkey Products, Smoked Boneless Hams, Cooked Hams, Pork & Turkey Deli Meats and Spiral Sliced Hams.

SALT LAKE CITY — Former KPMG technology consultant Bhargav Shah is Overstock.com’s new SVP of technology. Shah replaces Sam Peterson, who will remain with the company for a transition period.

Shah will spearhead development as well as the implementation of information technology initiatives within the organization. He will also influence business strategy through innovative use of technology.

SEATTLE -- Starbucks Coffee Company announced that it has completed its acquisition of Teavana Holdings has formally closed, making Teavana a wholly-owned subsidiary of Starbucks. Teavana has some 300 locations, primarily in 300 shopping malls across the nation.  

The acquisition is the the latest addition to Starbucks emerging brands portfolio, which also includes Evolution Fresh, La Boulange, Seattle’s Best Coffee and Tazo.

Michael Francis is among 10 top executives Advertising Age has singled out on a list of movers and shakers for 2013.

New York -- Two directors of Best Buy Co.  have resigned from the board of the retailer, the company disclosed in a regulatory filing Monday, the Wall Street Journal reported.

G. "Mike" Mikan, who served as Best Buy's interim CEO in the wake of CEO Brian Dunn’s resignation last April, has left the board to become president of ESL Investments Inc., the hedge fund run by Sears’ Edward Lampert. Mikan, whose appointment is effective Jan. 1, will report to Lampert, the firm said today in a statement.