Mergers & Acquisitions

An industry veteran has been tapped to lead operations at of the nation's fastest-growing fast-casual restaurant companies.    Mod Super Fast Pizza Holdings has appointed  Paul Twohig to the new role of COO,  effective immediately. The appointment comes as the company continues its rapid expansion in the United States and abroad. With Twohig’s arrival, Chris Schultz, former senior VP of operations, will take on the new role of senior VP, international to lead Mod’s development abroad.  

Fred's named Jason Jenne as executive VP and CFO. He will replace outgoing CFO Rick Hans, who is leaving to pursue other opportunities. Hans will stay onboard as an advisor until August 18, to ensure a smooth transition.  

Dick's Sporting Goods Inc. is shutting down its women's fashion/fitness store format.    Dick's is closing its two existing Chelsea Collective stores on August 6. Dick's launched the brand in 2015, but it never expanded it in any signficiant way.   

Amazon has found a way to further expand its foothold in the grocery industry.   The online giant has submitted a trademark application that will enable it to enter the meal kits business. The move will directly rival meal kit provider Blue Apron, according to CNBC.  

Beleagured Sears Holdings is borrowing yet more money from CEO Eddie Lampert's hedge fund.    Lampert's hedge fund, ESL Investments, has agreed to give the company a new line of credit, valued at $200 million. On July 13, Lampert's ESL Partners entered into a short-term line of credit loans, which carry a maturity date of 151 days and a fixed interest rate of 9.75% per year, Sears said.  

Chain Store Age’s “Fastest-Growing Acquirer” for 2016 continues to be hard at it in 2017.   Phillips Edison has purchased Sierra Del Oro Towne Center in Corona, California, about midway between Los Angeles and Palm Springs, for $28.6 million, it was announced this week.  

Since reports began to swirl around a possible sale of True Value Company -- or at least the consideration of such a move – the Chicago-based co-op’s CEO has downplayed the story as “rumor.”   But that hasn’t stopped rival co-ops from weighing in with their own statements.   

It's a nightmare for brides-to-be.