Mergers & Acquisitions

Rent-A-Center is being selective about potential business opportunities.   According to sources, the nation’s largest rent-to-own company brushed off takeover interest from private equity firms HIG Capital and Lone Star Funds. The snub took place prior to turning down an offer of $800 million from buyout firm Vintage Capital earlier this month, according to Reuters.  

A specialty apparel retailer is making it even easier for its customers to shop the latest looks.    Lane Bryant, a division of apparel giant Ascena Retail Group, is launching an in-store personal styling service. Called LaneStyle Studio, the program features a team of personal shoppers that will assist customers throughout their store visits.  

Customers that shop at both Amazon and Whole Foods Market are the most upbeat about the online giant’s purchase of the natural foods grocer.   This was according to a new GfK report that was conducted among 1,000 US adults (ages 18 and above) using KnowledgePanel, the company’s probability-based online panel that represents the adult U.S. population. Responses were collected from June 23-26.  

Amazon is working with government officials to head off a lengthy deal investigation.   Amazon will re-file documents this week seeking government approval of its planned purchase of Whole Foods Market for $13.7 billion. The move will restart the process, giving U.S. antitrust enforcers more time to complete an early review of the retailers’ planned tie-up, according to the Wall Street Journal.  

The search is over.    The Buckle named Thomas B. Heacock as VP of finance, treasurer and CFO, effective July 20. As CFO, he replaces Karen B. Rhoads, who in May announced her intention to retire. Rhoads will assist in the transfer of her duties and responsibilities to Heacock, and will continue to serve as a member of the company’s board.   

Amazon is staking a claim in the appliance market in a big way in a partnership with Sears Holdings.   The embattled retailer announced it will sell its prized Kenmore-branded appliances on Amazon. The deal opens the way for the broadest distribution to date of Kenmore products outside of Sears stores and its websites. Distribution will be nationwide, and Sears Home Services and Innovel Solutions units will provide delivery, installation, and other services.  

Against all odds, bankrupt RadioShack is still ticking.   An affiliate of Kensington Capital Holdings will acquire RadioShack’s intellectual property after it submitted a $15 million bid, Reuters reported. Kensington is already owned $23 million by the retailer, dating back to a loan it gave the company some two years ago.  

Greg Portell, lead partner in the retail practice of global strategy and management consulting firm A.T. Kearney: