Mergers & Acquisitions

GLENDALE, Calif. — Paul Grimwood, CEO of Nestlé UK and Ireland, has been appointed to the role of chairman and CEO of Nestlé USA following the announcement by current chairman and CEO Brad Alford, who is to retire in October 2012.

In addition to a John Fleming sighting in Minneapolis, Walmart alums John Menzer and Craig Herkert made news of their own this week.

Menzer resigned as CEO of Michaels following a stroke he suffered back in April, while Herkert was let go from his CEO role at Supervalu following a string of poor results.

Dallas -- Kathleen Mason, former president and CEO of Tuesday Morning Corp., has filed disability discrimination charges against the retailer, alleging she was removed after disclosing to the board that she was battling breast cancer.

"The board's attitude toward Kathleen changed after it learned of her breast cancer diagnosis and treatment,’ said attorney Roger Dunn, of Clouse Dunn Dunn LLP, Dallas, who is representing Mason, in a statement on Friday.

Matthews, N.C. -- Harris Teeter plans to expand its presence in existing markets, the company said in its third-quarter earnings release.

New York -- An affiliate of Manhattan-based real estate company Jemb Realty Corp. has agreed to purchase the leases and certain intellectual assets of Daffy’s Inc. for $43 million, Bloomberg reported. The deal is subject to bankruptcy court approval.

Daffy’s filed for Chapter 11 protection listing assets of $60.2 million and debt of $70.5 million as of July 1. The chain operates 19 stores, with the majority in the New York City metro area.

WASHINGTON, D.C. — NewBrandAnalytics , a global leader in social market intelligence, has appointed two celebrated names in the world of business service software – Kristin Muhlner and Barton Phillips.
 
Muhlner was named CEO and was appointed to the company's board of directors to serve alongside investment giants, New Enterprise Associates (NEA) and Revolution LLC. Muhlner brings to NewBrandAnalytics 20 years of expertise in building mission critical technology solutions used by Fortune 500 companies.
 

Deerfield, Ill. -- Walgreens and Alliance Boots on Thursday announced the completion of Walgreens initial investment in the strategic partnership following receipt of all required regulatory approvals.

The Walgreens investment consists of approximately $4 billion in cash and 83.4 million shares of Walgreens common stock in exchange for a 45% equity stake in Alliance Boots. Walgreens has the option to proceed to a full combination in approximately three years’ time by acquiring the remaining 55% of Alliance Boots.

NAPERVILLE, Ill. — OfficeMax reported net income of $10.7 million for the second quarter, besting Wall Street predictions and representing a strong turnaround from last year’s $3 million loss stemming from store closures and severance expenses.
 
Revenue for the quarter slipped 2.7% to $1.6 billion, missing analysts’ forecasted $1.64 billion in revenue. The office supply retailer said it will reinstate its quarterly common stock dividend, which it suspended more than three years ago.