Mergers & Acquisitions

HOFFMAN ESTATES, Ill. — New York Mets baseball executive Paul DePodesta is the newest member of the Sears Holdings board.

Although his qualifications are somewhat unconventional, DePodesta was elected to the board because his experience as VP of player development and amateur scouting for the Mets is believe to help Sears Holdings in the area of personnel development.

New York -- Star Avenue Capital announced that it has acquired a minority ownership position in It’Sugar, Deerfield Beach, Fla., a growing specialty candy and gift chain. Terms of the transaction were not disclosed.
Star Avenue is partnering with It’Sugar CEO and founder Jeff Rubin and existing investor Prentice Consumer Partners to provide the resources and strategic guidance to support the brand’s rapid expansion. The company currently has over 50 retail locations across 13 states and four international markets.

Chicago -- Claire's Stores announced Wednesday the recent opening of company-owned-and-operated Claire's stores in Italy and Luxembourg, bringing the retailer’s European presence to 15 countries.

According to Claire’s European president Beatrice LaFon, the first Italian store was opened in the Milan Fiordaliso shopping centre, and the first Luxembourg store was opened in Esch Sur Alzette on Rue de l'Alzette.

During December, the company said it also plans to enter Indonesia on a franchise basis.

BOSTON, Mass. — Former president and CEO of Vibram USA Tony Post has launched Topo Athletic, a new company and brand of athletic gear created by and for athletes that conforms to the human body.

Based in Newton, Mass., Post has launched the new company with $5 million in series A funding from Norwest Venture Partners, a multi-stage investment firm based in Silicon Valley.

In 2006, Post launched the Vibram FiveFingers brand in the United States, which catapulted Vibram USA and minimalist footwear into the limelight.

Huntsville, Ala. -- Nashville-based Baker Storey McDonald, an X Team International partner, said it has acquired its first property in Huntsville, Ala. The firm purchased Whitesburg Center for $6.7 million.

The 51,943-sq.-ft. shopping center is tenanted by Dollar Tree, Mattress Firm, Cheeburger Cheeburger and Baskin Robbins, among others.

Baker Storey McDonald will manage and lease the center.

Albany, Ore. -- Vintage Real Estate announced that the company has acquired Heritage Mall, located in Albany, Ore.

The 406,500-sq.-ft. mall features more than 50 major retailers, boutiques and restaurants including Target, Sears, Ross Dress for Less and Old Navy, Maurice’s, rue 21, Zumiez, Famous Footwear, Game Stop and Bath & Body Works. It was remodeled in 2006 and is 50% occupied.

Growth in sales and membership income at Costco helped the company produce earnings per share of 95 cents and beat analysts’ estimates by two cents.

Issaquah, Wash. -- Costco Wholesale Corp. reported Wednesday that net income for the quarter ended Nov. 25 rose 30% to $416 million, compared with $320 million in the year-ago period and surpassing analysts’ forecasts.

Sales increased 9.6% to $23.71 billion from $21.2 billion, beating Wall Street’s estimated $22.11 in revenue. Same-store sales increased 6% domestically and 7% internationally, excluding fuel sales and foreign exchange effects.