Mergers & Acquisitions

The Southeast’s leading grocery chain will be opening a new center in the state where it has its least exposure, and leasing activity is brisk.   Broker La Purser & Associates reported the signing of four tenants at a planned Publix-anchored center in Harrisburg, North Carolina. Smoothie King, Sports Clips, Avalon Spa & Nails, and dental office have committed to the 67,200-sq.-ft. Harris Square, set to open in 2018.  

Amazon may face a contender for Whole Foods Market.   JP Morgan research analysts said in a note that Walmart could step in as a rival bidder for the grocery chain, reported CNBC, attracted by Whole Foods' more affluent customer base and strong brand.   

Walmart is asking its technology suppliers to pick sides in its retailing war with Amazon.   The retailing giant reportedly warned some tech companies that if they want its business, they can't run applications on Amazon’s cloud platform, Amazon Web Services. Walmart currently partners with tech suppliers that already leverage cloud apps running on AWS, although the retailer didn’t reveal which applications or how many they use, sources told the Wall Street Journal.  

Sears Canada could file for Chapter 11 sooner than expected.   The struggling offshoot of Sears Holdings Corp., is preparing to seek court protection against its creditors. The filing — which could happen within weeks — will likely lead to a liquidation, with the business sold off in pieces, sources told Bloomberg.  

J. Crew just bought itself some more time with its lenders.   Lenders holding approximately 88% of the outstanding principal amount of loans under J. Crew’s term loan agreement have approved a term amendment. The amendment, initially proposed in mid-June, was offering to exchange its $566.6 million of outstanding pay-in-kind notes due 2019. The notes were issued by Chinos Intermediate Holdings, an indirect parent to J.Crew.  

The recent announcement that Amazon intends to purchase Whole Foods Market has the retail and grocery store industry reeling as traditional grocers assess the near and long-term impact that the online giant’s much larger position in the marketplace may have. And with good reason. Amazon is the classic “disruptor” and has changed the face of every industry it touches. But aside from the competitive aspects, this move potentially has significant political and policy impacts as well.   

The Fresh Market's chief executive has resigned after less than two years on the job.    The Fresh Market announced that Rick Anicetti has resigned as CEO and board member. No reason was given for his departure. Anicetti took the reins of the specialty grocer in September 2015, bringing more than 30 years of experience across a variety of retail functions at Hannaford Brothers Company and Food Lion, where he served as president and CEO.   

The ink is barely dry on Amazon’s acquisition of Whole Foods Markets, yet the natural grocer’s CEO implied that “big ideas” are already in the works.