Skip to main content

Mergers & Acquisitions

  • Report: Tesco growth to outpace competitors

    London -- A survey released Thursday said sales growth at Britain's Tesco PLC, the world's third biggest retailer, will outpace its major international rivals -- including Wal-Mart Stores -- in coming years as it expands in Asia, the Associated Press reported.

    The report by London-based food and grocery analyst IGD says that Tesco will grow its business at a compound annual rate of 7.5% between 2010 and 2015, taking sales to euro106 billion ($143 billion).

  • Opportunity emerges courtesy of Borders

    Borders Group on Thursday won bankruptcy court approval to liquidate approximately 200 stores in a deal that may bring in $175 million to creditors. The sales will begin Feb. 19, allowing Borders to take advantage of the President’s Day holiday, typically a major shopping weekend.

    Hilco Merchant Resources LLC, SB Capital Group, Tiger Capital Group LLC and Gordon Brothers Group won the bidding to handle the liquidation sales, according to Bloomberg.

  • Luxottica to acquire pair of Mexican sunglass retailers for $23 million

    New York City -- Italian eyewear maker and retailer Luxottica Group SpA said Thursday it will acquire two specialty sunglass retailers in a deal worth about $23 million in a move to gain entry to the Mexican market.

    Luxottica’s deal to buy Stanza and High Tech includes more than 70 stores that will eventually be rebranded as Sunglass Hut locations.

  • No new bidders for J. Crew

    New York City -- J. Crew Group said Wednesday that it did not receive any alternative takeover bids during an 85-day "go shop" period, in which the company sought alternatives to an offer from its former owner.

    J. Crew agreed in November to be taken private in a $3 billion deal with two investment firms, TPG Capital and Leonard Green & Partners. It originally had until Jan. 15 to vet other prospects, and that period was extended by a month.

  • Aldi to debut in New York City

    Queens, N.Y. -- Discount grocer Aldi said Thursday it will open its first-ever New York City store on Feb. 18. The new store is located in the borough of Queens.

    Aldi, which offers a limited assortment of items, said it will bring its standard floorplan to Queens, which includes wider-than-typical 8-ft. aisles.

    The Queens store is the first of three grocery stores the company plans to open in the area, including new locations in the Bronx and Bay Shore areas.

  • And in other developments on the Northern front

    Walmart and Target are being blamed for driving shares of Canadian retailers to their lowest level in six years, according to a Bloomberg report this week. Bloomberg said the ratio between the S&P/Toronto Stock Exchange Retailing Index and its counterpart in the Standard & Poor’s 500 narrowed to 4% on Feb. 11, the smallest in six years. The retailing index has retreated 2.3% this year, while a separate index of companies that sell food and basic necessities has lost 1.1%, the biggest declines among 24 industries in the S&P/TSX. 

  • Grubb & Ellis names senior retail exec

    Walnut Creek, Calif. -- Grubb & Ellis Co. announced that John Sechser has rejoined the company’s Walnut Creek office as senior VP retail group.

    Sechser returns to Grubb & Ellis after spending nearly 12 years with Colliers International, where he was a senior VP and co-director of the company’s Walnut Creek Retail division.
     

  • Long-time fashion exec to head Nine West Direct

    NEW YORK -- The Jones Group Inc. announced that it has appointed Sally Ross EVP merchandising for Nine West Direct, effective immediately. Ross' focus will be on leading the merchandise initiatives for Nine West Retail, Nine West Outlet and NineWest.com, and she will report directly to Ron Offir, President, Jones Direct Group, the company reported.

X
This ad will auto-close in 10 seconds