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Mergers & Acquisitions

  • Genesco acquires 59-store U.K. retailer

    Nashville, Tenn. -- Genesco announced Thursday that it has acquired Schuh Group, a specialty retailer of casual and athletic footwear based in the United Kingdom.

    The purchase price was $159 million.

    Headquartered in Scotland, Schuh operates 59 stores in the United Kingdom and Republic of Ireland, 16 concessions in Republic apparel stores and one of the U.K.'s largest online shoe websites. 

  • Whole Foods co-chief sets goal of 1,000 U.S. stores

    Austin -- Whole Foods Market co-CEO Walter Robb told investors at a Jefferies Global Consumer Conference that the now-300-store chain is expected to grow to 1,000 stores in the United States.

    The organic grocer sees opportunity in Canada as well, and Robb said it expects to grow its store count there from six to 35.

  • Cardtronics to acquire EDC ATM and Efmark Deployment

    Houston -- ATM owner Cardtronics said Tuesday that its USA subsidiary will acquire EDC ATM Subsidiary, LLC and Efmark Deployment I, for approximately $145 million.

    The transaction doubles Cardtronics ATM placements in multiple states, giving the company about 3,700 ATMs, as well as numerous ATM placement agreements with high-traffic U.S. retailers and ATM branding contracts with some of the country’s largest financial institutions.

  • Publix makes Knoxville debut

    LAKELAND, Fla. — Publix Super Markets announced that it will make its Knoxville, Tenn. debut in in the Northshore Town Center at Northshore Drive and Pellissippi Pkwy.

    “We are proud to offer our unique shopping experience to customers in Knoxville,” said Todd Jones, president of Publix Super Markets. “We are committed to providing premier customer service and look forward to supporting the Knoxville community as early as third quarter 2012.”

  • H&M profit drops 18% on high costs

    STOCKHOLM, Sweden -- Hennes & Mauritz AB reported Wednesday that net income for its 2Q dropped 18% to $673 million, from $817 million in the year-ago period.

    The Swedish fashion retailer blamed higher procurement costs and promotional offers for the lagging performance.

    Sales edged up to $5.1 billion from $4.96 billion in the prior year quarter, but gross margin shrank to 61.7% from a previous 65.9%.

  • Parigi acquires Hartstrings children's brand

    NEW YORK — Parigi Enterprises LLC, a subsidiary of Parigi Group Ltd, a children’s branded apparel company, announced that it has purchased certain assets of the Hartstrings brand and name, in addition to assuming the leases of 23 retail outlet stores. The Little Maven by Tori Spelling clothing line was not among the assets acquired.

  • Lumber Liquidators board member Tadler to step down

    Toano, Va. -- Hardwood flooring retailer Lumber Liquidators said Wednesday that Richard D. Tadler will be stepping down from the board of directors, effective June 30.

    Tadler joined the board in 2004 when TA Associates, the private equity firm of which he is a managing director, originally invested in the company.

    TA Associates divested its interest in Lumber Liquidators in 2009, leading to Tadler’s decision to step down.

  • Walgreen to split with Express Scripts, reports 30% rise in Q3 profit

    Deerfield, Ill. -- Walgreen Co. said Tuesday it will terminate a $5.3 billion-per-year relationship with Express Scripts.

    Walgreen reported that contract negotiations with Express Scripts have failed, and it will stop participating in the St. Louis company's prescription plans starting Jan. 1. Express Scripts processes about 90 million prescriptions that will be filled at Walgreen stores in fiscal 2011, which will bring Walgreen about $5.3 billion in revenue.

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