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Mergers & Acquisitions

  • Leonard Green and CVC complete acquisition of BJ’s

    Westborough, N.H. -- Private equity firms Leonard Green & Partners and CVC Capital Partners on Friday completed their $2.8 billion acquisition of BJ's Wholesale Club. The move, which takes the chain private, sets the stage for a stock delisting, effective Monday before the markets open.

    The deal was announced in late June after months of speculation. BJ’s shareholders approved the buyout on Sept. 9. The chain currently operates 190 warehouse clubs in 15 states.
     

  • Lumber Liquidators makes strategic supplier acquisition

    Toano, Va. -- Flooring retailer Lumber Liquidators said Friday it will acquire certain assets of Sequoia Floorings in order to strengthen its mill-direct relationships and shore up its long-term sourcing strategies.

    Sequoia, a trading company, had provided product quality and development services on approximately 40% of Lumber Liquidators’ 2010 merchandise purchases, primarily those in Asia.

  • Family Dollar appoints Edward Garden to board

    MATTHEWS, N.C. — The chief investment officer of Trian Fund Management has been named to the board of directors at Family Dollar, the retailer announced.

    Edward Garden's appointment as board member is effective immediately. With this appointment, Family Dollar's board expands to 11 directors.

  • Castro-Wright resignation noteworthy, but not a surprise

    Normally, it is a big deal when the vice chairman of a major company announces their retirement. Especially when said executive is only 56 and in the prime of their senior leadership years. That wasn’t the case earlier this week when Walmart announced that Eduardo Castro-Wright would be stepping down as vice chairman and CEO of the company’s global e-commerce and global sourcing businesses.

  • Cheesewright becomes McMillon’s man in the Middle East and Europe

    Former Asda executive and Walmart Canada CEO David Cheesewright has a new role that opens up some intriguing growth possibilities, given his new responsibilities include oversight of geographic areas where Walmart doesn’t currently operate stores.

  • Yogurtini opens first of 10 southern Florida self-serve outlets

    Tempe, Ariz. -- Self-serve frozen yogurt concept Yogurtini said Thursday it will open the first of 10 stores planned for the southern Florida area.

    A unit in Coral Springs, Fla., will open on Oct. 1, marking the first of 10 franchise locations through an area-development deal with Emilio and Javier Braun.

    The brothers, who are based in Miami, are in the process of opening stores in Davie, Fort Lauderdale and the Hammocks Community in South Miami-Dade County.
     

  • Wal-Mart names CEO of new regional management team

    Bentonville, Ark. -- Wal-Mart Store announced the appointment of David Cheesewright as executive VP, president and CEO of a new regional management team. In this newly created role, he will lead Walmart's retail operations in Canada, the United Kingdom and Sub-Saharan Africa, and will oversee business development in Europe, the Middle East, Africa and Canada.

    Cheesewright will assume his role immediately and report directly to Doug McMillon, president and CEO, Walmart International.

  • Family Dollar Q4 profit up, boosts store expansion plans

    MATTHEWS, N.C. — Family Dollar Stores announced Wednesday that it plans to open 450 to 500 new stores in fiscal 2012, a 50% jump compared with the number of openings in fiscal 2011, and will renovate, relocate or expand over 1,000 locations. The discounter also reported that its fiscal fourth-quarter net income rose 8%.

    “In fiscal 2012, we intend to accelerate investments to drive sales and profitability,” said Howard Levine, chairman and CEO.

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