Mergers & Acquisitions

SALISBURY, N.C. — First-quarter revenue for the Delhaize America, the U.S. sector of Delhaize Group, which includes such supermarket banners as Food Lion and Bottom Dollar, experienced a 0.1% increase to nearly $4.7 billion, the company reported.

SCOTTSDALE, Ariz. — On the final evening of the National Association of Chain Drug Stores Annual Meeting in Scottsdale, the association for the first time honored two individuals in the same year with the Sheldon W. Fantle Lifetime Achievement Award: Mary Sammons, chairman of Rite Aid, and Tom Ryan, chairman of CVS Caremark.

ENGLEWOOD, Colo. -- Dish Network announced that it has named a president for its newly-acquired subsidiary, Blockbuster. Michael Kelly, who most recently served as EVP of Dish Network's commercial services division as well as both the direct sales and media sales organizations and played a key role in Dish Network's purchase of Blockbuster. has been charged with returning the struggling retailer to profitability.

New York City -- SuperValu plans to increase the footprint of its value division Save-A-Lot by 160 new stores this year, GlobeSt.com reported.

“This past year we added 92 net Save-A-Lot stores, and this fiscal year we’re looking to add another 160 net stores,” a spokesman said, according to the report.

CHICAGO -- Supervalu detailed its strategic plan to deliver profitable growth in the future for shareholders at an investor event May 3. 

Commenting on the company’s plans, Supevalu CEO and president Craig Herkert said, “We are focused on acting as one company, working toward a common goal of delivering increased value to all of our customers and meeting their needs neighborhood by neighborhood.”

New York City -- Target Corp. was due in court in Canada on Monday in an attempt to win exclusive right to use its name in Canada, the Wall Street Journal reported.

Target is asking the court to impose a preliminary injunction against Canadian retailer Isaac Benitah and his company, Fairweather, which owns 15 stores across Canada called Target Apparel and has a logo similar to that of Target Corp, the report said.

PLANO, Texas -- JCPenney has completed a new five-year $1.25 billion bank credit facility.

The new facility replaces a $750 million credit facility that was scheduled to mature in April 2012 and provides further strength to the company's liquidity position. The facility may be used for general corporate purposes and will mature in April 2016.

Plano, Texas -- J. C. Penney Corp. has completed a new five-year $1.25 billion bank credit facility.

The new facility replaces a $750 million credit facility that was scheduled to mature in April 2012 and provides further strength to the company's liquidity position. The facility may be used for general corporate purposes and will mature in April 2016.