Mergers & Acquisitions

Racine, Wis. -- Retail Maintenance Service (RMS) has changed its name to Ascential to reflect its growth and enhanced capabilities.

The number of planned store closures at Talbot’s was bumped to 110 units recently when the company reported disappointing first-quarter results and indicated most of the underperforming units would close during the second half of the year.

Hartford, Conn. -- RBS recently completed a $20 million senior credit facility for FM Global Holdings (FM Facility Maintenance). The proceeds will be used to provide working capital for growth and acquisition financing.

Indianapolis -- Commercial real estate firm Lee & Associates announced the addition of Robyn Smart as a senior advisor of the Indianapolis office.

Smart specializes in tenant representation, site acquisition and landlord representation. In her new role, Smart will be responsible for all aspects of retail brokerage.

Prior to joining Lee & Associates, Smart most recently served as an advisor for CB Richard Ellis.
 

Sydney Rosen, former chairman of Rose Art Industries and a toy industry veteran, died on June 2 at the age of 94. 

Rosen's career in the toy industry began when he went to work for his father's company, Rosebud Art, following a medical discharge from the army. Rosen's father Isidor was an artist and lithographer by trade, creating children’s toys and arts and craft sets, games and puzzles, and eventually Sydney and his brother Irving took over the business themselves as Isidor retired.  Ultimately Rosen bought his brother’s share.

Northbrook, Ill. -- Pine Tree Commercial Realty and New York City-based Silverpeak Real Estate Partners announced they have formed a joint venture with the goal of acquiring retail assets and portfolios across the United States.

According to Chris Westfahl, principal of Silverpeak, and Peter Borzak, co-founder and principal of Pine Tree, the new JV – Pine Tree Silverpeak Retail Partners LLC – plans to pursue transactions greater than $10 million and across the risk spectrum, ranging from raw land for development to stabilized core assets.

Austin, Texas -- Whole Foods Market announced the addition of Blake W. Nordstrom to the company's board of directors, increasing the size of the board to 12 members. He will serve on the audit committee.

Nordstrom, 50, has been president of Nordstrom since 2000 and has served as a member of the company's board of directors since 2005.
 

NEW YORK — Phillips-Van Heusen announced that it has entered into a licensing agreement with Ram Pacific under which Ram Pacific will market and distribute apparel and accessories under PVH’s IZOD brand in Singapore, Indonesia, and Malaysia. The initial term of the license agreement runs through December 2015 and provides for a renewal at PVH’s option.