Mergers & Acquisitions

Northbrook, Ill. -- Pine Tree Commercial Realty said that it has appointed Thomas Seurynck as VP acquisitions and due diligence.

Seurynck was previously a senior investment associate and credit/underwriting manager for Wrightwood Capital in Illinois.
 

Glendale, Calif. -- Nordstrom and Caruso Affiliated jointly announced today an agreement to relocate the Nordstrom full-line store and build a new store at Caruso Affiliated's The Americana at Brand in downtown Glendale, Calif.

The new three-level, 135,000-sq.-ft. is expected to open in fall 2013 and will be part of the expansion of The Americana at Brand. Nordstrom will continue serving customers at its current Glendale Galleria store, located next to The Americana at Brand, until the new store opens.

New York City -- Private equity firm Golden Gate Capital Corp. agreed to sell a majority stake in J. Jill to Arcapita Bank BSC, a Bahrain-based investment bank, less than two years after buying the company. Terms of the agreement were not disclosed.

Golden Gate will remain a minority shareholder in the company. J. Jill President and CEO Paula Bennett will continue to lead the chain.

Golden Gate bought J. Jill in June 2009 from The Talbots for about $75 million.
 

Pleasanton, Calif. -- Safeway has announced the appointment of T. Gary Rogers to the company's board of directors. The company's board of directors will expand from nine to 10 members with this new appointment.

"Gary's vast experience as a supplier to the grocery industry, his business acumen and experience as a director will be great assets to the board," said Safeway chairman, resident and CEO, Steve Burd. "We are pleased he is joining our board."

COLUMBUS, Ohio -- Label-lovers aside, designer shoes -- even discounted designer shoes -- are considered discretionary items by most consumers, and the fact that DSW had such a strong quarter is indeed a good sign that the middle-income consumer is feeling more confident about her economic situation.

Salisbury, N.C. -- Delhaize America said Monday it plans to convert all of its Bloom stores in North and South Carolina to the Food Lion banner, with the exception of one Bloom store in Mauldin, S.C., that will close.

According to a report by Supermarket News, the 15 Bloom locations in the Charlotte and Greenville, S.C., markets will be converted "as quickly as possible."

NORTHFIELD, Ill. — Kraft Foods on Monday announced that its EVP and CFO, Timothy McLevish, will leave the company in mid-2011.

McLevish, who served as EVP and CFO for Kraft since 2007, will shift his CFO responsibilities to EVP operations David Brearton. Prior to his exit, McLevish will report the company's first-quarter financial results.

Columbus, Ohio -- DSW has announced net income of $18.5 million on net sales of $468.5 million for the fourth quarter ended Jan. 29, compared with net income of $13.4 million on net sales of $402.6 million for the quarter ended Jan. 30, 2010. Same-store sales increased 14.9% for the comparable period versus an increase of 12.9% last year. 

Diluted earnings per share were 41 cents for the fourth quarter of fiscal 2010 compared with diluted earnings per share of 30 cents last year.