Mergers & Acquisitions

New York City -- Lowe’s Cos. plans to build a 1.4-million-sq.-ft. distribution center in Rome, Ga.

The facility, due to open in 2013, will service Lowe’s stores in western Georgia, northern Florida and Alabama

 

New York City -- A Friday report by Reuters said that a former Borders Group employee is attempting to represent a class of about 300 Ann Arbor, Mich., workers in suing the bankrupt retailer for not giving proper notice of impending mass layoffs.

Mexico City -- Chicago- and Atlanta-based Jones Lang LaSalle announced a major expansion of the firm’s full-service operations in Mexico with the addition of retail services.

The firm said it has hired Luis Llaca to focus on a wide range of retail services across Mexico, reporting to Pedro Azcue, CEO of Jones Lang LaSalle Mexico.

Luis was previously VP of retail operations in Mexico for CB Richard Ellis.    
 

New York City -- Walgreens said same-store sales rose 5.6% in August, better than expectations, helped by a calendar day shift.

Same-store front-end sales  rose 4.8%, while same-store pharmacy sales rose 5.2% in August. Overall, net sales rose 7.8%, to $6.1 billion. Total sales for the fourth quarter of fiscal 2011, which ended Aug. 31, were $17.94 billion, up 6.4% from the year-ago period.

New York City -- Centro Properties Group US announced that three Big Lots have joined its portfolio, encompassing 92,006 sq. ft. and bringing Big Lots’ total store count with Centro to 49 locations.

A 30,000-sq.-ft. Big Lots opened at Arapahoe Crossings, in Aurora, Colo.; a 28,000-sq.-ft. store opened at Lagniappe Village, in New Iberia, La.; and a 34,006-sq.-ft. lease has been executed with Big Lots at Panama City Square, located in Panama City, Fla.
 

Toronto -- Blockbuster Canada Co. is winding down operations. Grant Thornton Ltd., the receiver in charge of selling the chain, announced that it is seeking a court order to shut down the company’s remaining 253 stores.

The accounting firm was appointed receiver for the video chain in May.  In June, it shuttered about 150 underperforming Blockbuster outlets, and began the hunt for a buyer for the remaining outlets. But Grant Thornton said it has been unable to find a suitable buyer.
 

Memphis -- The Kroger Co. said Friday that its Kroger Delta Division, based in Memphis, has acquired eight Memphis-area Schnucks grocery stores that the company will convert and re-open under the Kroger banner over the next few weeks.

Currently, Kroger operates 37 stores in the Memphis metropolitan area, and the acquisition ups the area store count to 43, with two of the acquired Schnucks locations replacing two smaller existing Kroger locations.

NEW YORK — Lord & Taylor unveiled a new concept called Lord & Taylor Home on Friday, at Fashion Center shopping center in Paramus, N.J.  A second location, in Shrewsbury, N.J., is expected to open in several weeks. Lord & Taylor is owned by NRDC Equity Partners, which also owns Canada’s Hudson Bay Co.