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Mergers & Acquisitions

  • Report: SuperValu to open 160 Save-A-Lot stores in 2011

    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 in the report.

  • Lots of talk, but where’s the action?

    Mike Duke presented at the Barclay’s conference Tuesday, and, as we predicted in last week’s WNN, he did not speak about first-quarter sales, which the company will report on May 17. Instead Duke focused on such broad goals as growth, leverage, but offered little detail on how the company plans to achieve them.

  • Kohl’s adds Rock & Republic label

    Menomonee Falls, Wis. -- Kohl’s Corp. has added another exclusive label to its lineup with Rock & Republic Apparel. The company signed a long-term licensing agreement with R&R Apparel Co. LLC and its parent company, VF Corp.

    Rock & Republic will launch in men’s and women’s apparel and footwear in spring 2012. It may expand into children’s accessories and home goods over time. Nearly half of Kohl’s sales in 2010 came from exclusive brands.

  • Safeway Q1 profit falls on tax charge

    Pleasanton, Calif. -- Taxes related to Safeway's effort to pay down debt reduced its first-quarter net income, but the company's adjusted results beat Wall Street's expectations as its revenue rose, the Associated Press reported.

    The company earned $25.1 million for the quarter, compared with $96 million a year earlier. This includes a tax charge related to a plan to pay down its U.S. debt with part of a $1.1 billion dividend in cash and debt from its Canadian operations.

  • Fameco announces exec appointment

    Woodbridge, N.J. -- Fameco Real Estate announced that Scott Jennerich has joined the Fameco organization and will be based out of its Woodbridge, N.J., office.

    Jennerich previously led Trinity Real Estate Advisors, a consulting company specializing nationally in retail real estate, land development and the shopping center industry. He will join Fameco as the president of Trinity Real Estate Advisors, now a wholly owned subsidiary of Fameco Real Estate.
     

  • RMC moves headquarters

    Tampa, Fla. -- RMC Property Group announced it has acquired Carrollwood Corporate Center in Tampa, Fla., and is expanding and moving its corporate offices to the office building.

    The Class A office building encompasses 20,000 sq. ft.
     

  • Darden looks to double size of LongHorn Steakhouse over 10 years

    New York City -- Darden Restaurants plans to roughly double the size of LongHorn Steakhouse during the next 10 years. 

    Speaking at Barclay’s Retail & Restaurants Conference in New York City, Darden president and COO Drew Madsen said LongHorn Steakhouse, Olive Garden and Seasons 52 would help drive the company’s growth going forward. Darden want to expand LongHorn Steakhouse, which currently has some 345 locations, to 600 to 800 units over the next decade.

  • Paster acquires Cahill Plaza

    St. Paul, Minn. -- A partnership between St. Paul, Minn.-based Paster Enterprises and Chicago-based Shiner Capital Partners announced the purchase of Cahill Plaza, located in Inver Grove Heights, Minn.

    Cahill Plaza is a 69,000-sq.-ft. shopping center that is anchored by a 52,017-sq.-ft. Cub Foods and a 6,165-sq.-ft. MGM Liquor. Additional tenants include Great Clips, RR Cleaners, C & A Nails, Edward Jones and Papa Johns.

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