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Mergers & Acquisitions

  • Report: BJ’s Wholesale may face hostile bid from Leonard Green & Partners

    New York City -- BJ’s Wholesale Club is in the sights of private equity firm Leonard Green & Partners, which may pursue a hostile bid for the chain, according to The New York Post.

    The Los Angeles-based buyout firm may make a bid if no auction occurs in coming weeks, the report said, citing an unidentified person close to the situation. BJ’s planned an auction to sell itself after an earlier bid from Leonard Green, according to the newspaper.

  • Focus on: Site Selection and Optimization

  • Daffy’s starts expansion push

    New York City -- Off-price retailer Daffy’s is launching an expansion push, including opening a store in Manhattan’s Times Square in the former home of the New York Times, Crain’s New York Business reported.

    The 28,000-sq.-ft. Times Square store, to be located on West 44th Street between Seventh and Eighth avenues, is slated to open fall 2011. The store will have a ground-floor entrance, but the bulk of the space will be on the basement level.

  • WP Realty acquires Mayfair Shopping Center

    Philadelphia -- Bryn Mawr, Pa.-based WP Realty said it has acquired Mayfair Shopping Center, located in Philadelphia.

    Mayfair is a single-story, 115,411-sq.-ft. community shopping center comprised of four buildings, including one bank pad (Wachovia). The center is anchored by national and regional retailers including Shop ‘n Bag, Dollar Tree and Fashion Bug.

    Mayfair Shopping Center is currently 86% occupied with 16,339 sq. ft. of available retail space.

  • Shared Services: The boardroom dilemma

    The recent global economic downturn has left its mark on the retail industry and marketplace. As global companies emerge from the recession, CXOs of various Fortune 1000 companies across the globe representing the consumer-packaged goods, retail, quick service restaurants and other sectors have passionately articulated a common set of needs:  to leverage their scale, to be truly global and to use their information as an asset. These needs have led to an increased interest in a global shared services model.

  • Jo-Ann Stores to be bought by Leonard Green for $1.6 billion

    Hudson, Ohio -- Jo-Ann Stores said Thursday it has agreed to be acquired by an affiliate of private-equity firm Leonard Green & Partners for $1.6 billion in cash.

    Los Angeles-based Leonard Green’s acquisition of the U.S.’s largest fabric retailer follows its $3 billion purchase of J. Crew, announced in late November.

    Going private will enable Jo-Ann Stores to renovate stores and accelerate the chain’s expansion. It currently operates 756 stores.

  • Jo-Ann Stores to be acquired for $1.6 billion

    HUDSON, Ohio - Jo-Ann Stores announced that it has entered into a definitive agreement to be acquired by an affiliate of Leonard Green & Partners, L.P., for a total price of approximately $1.6 billion, or $61 per share in cash. The offer price represents a 34% premium to the closing price of Jo-Ann’s shares on Dec. 22.

  • Coyote Management and Garrison Investment acquire Central Mall

    Salina, Kan. -- Addison, Texas-based Coyote Management, L.P. and Garrison Investment Group said they have acquired, through their affiliates, Central Mall, in Salina, Kan.

    The 486,444-sq.-ft. enclosed regional mall is anchored by Dillard’s, J.C. Penney and Sears, and also features a 10-screen Showplex Cinemas and key major tenants Jo-Ann Fabrics and Old Navy.

    The newly acquired property augments the existing 2.8 million sq. ft. currently owned by Coyote Management.

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