Mergers & Acquisitions

Framingham, Mass. -- The TJX Cos. said Friday it has acquired Sierra Trading Post, an off-price Internet retailer based in Cheyenne, Wyoming, for approximately $200 million in cash.

The purchase was financed from TJX’s existing cash balances.

Mohawk Industries plans to acquire leading ceramic tile manufacturer The Marazzi Group.

The $1.5 billion acquisition will make Mohawk, a flooring industry leader best known for carpeting, the world leader in ceramic tile, according to the company. The Marazzi Group is said to be the leading manufacturer and marketer of ceramic tile in all its major geographies, including Russia, the United States, Italy, France and Spain, with 2011 revenues of nearly $1.2 billion. The deal is expected to close in the first quarter of 2013.

Third quarter same store sales at Bed Bath & Beyond were negatively affectivd by Hurricane Sandy, but the nation’s leading home good retailer still managed to grow profits.

Former Sam’s Club SVP and GMM Huey Long and former Target EVP of stores Troy Risch have joined forces to right the ship at RadioShack.

Valspar will become the new paint supplier for Ace Hardware, according to Retailing Today sister publication Home Channel News.

Said to be in the final stages of inking the deal, Valspar would replace Ace Hardware’s signature brand Benjamin Moore.

MOUNTAIN VIEW, Calif. — Symantec, a global leader in security, backup and availability solutions, has appointed Stephen Gillett as its EVP and COO.

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday a profit of $60.5 million for the quarter ended Dec. 1, compared with a year-earlier loss of $54.5 million and marking the first time since quarter-ended May 2007 that the drugstore retailer has turned a profit.
 
Rite Aid also raised its forecast for the year, abandoning earlier forecasts of a loss for the year and instead suggesting that the company may turn an annual profit.
 

ST. PETERSBURG, Fla. — Interactive multichannel retailer HSNi has appointed BBC executive Ann Sarnoff to its board of directors.

Sarnoff will also serve on HSNi’s Compensation and Human Resources Committee. Her appointment expands the number of board members to ten.