Mergers & Acquisitions

Although Walmart is an old-school retailer, it is not afraid to learn new tricks and to shift its thinking. This youthful and innovative approach has helped it deliver another solid set of results in a highly competitive market.  

The Azarian Group has acquired The Livingston Town Center in Livingston, New Jersey in a $21.2 million trade arranged by Cushman Wakefield.   The 11-year-old lifestyle retail property houses a diverse mix of 28 restaurants and shops, including Fan Bistro, an upscale Asian spot, Restore Cold Pressed Juices, and Dentistry with a Smile. Fit 36 and Xtend Barre are scheduled to open there soon.    

Yesway has expanded its store network.   The convenience store company announced it has acquired 35 Wes-T-Go and Chillerz stores in Abilene, Texas. The acquired stores will be added to Yesway’s existing portfolio of 38 locations currently operating in Iowa and Kansas.  

German discount grocer Lidl is set to shake up the competition with prices that promise to turn up the heat on its U.S. competitors, who are already engaged in a price war.    Lidl on Wednesday revealed the locations of the first 20 stores it will open this summer in the United States, starting on June 15. (See end of story for listing). The stores — in North Carolina, South Carolina and Virginia — are the first of up to 100 locations the grocer plans to open across the East Coast by next summer.    

Amazon may have its sights set on a new, multi-billion dollar market.   The online giant may be on the cusp of entering the pharmaceutical dispensing business, according to a report by CNBC. The company reportedly has hired a general manager whose role is said to be helping the online retailer explore how to hang a pharmacy shingle.  

Washington Prime Group and O’Connor Capital Partner announced the formation of a joint venture partnership in seven open-air retail centers. WPG will be the controlling partner with a 51% stake.   The seven properties are:   • Arbor Hills in Ann Arbor, Michigan;  • Classen Curve/Nichols Hills Plaza/The Triangle at Classen Curve in Oklahoma City;  • Gateway Center in Austin, Texas;  • Palms Crossing in McAllen, Texas;

Ralph Lauren Corp. has named a 25-year Proctor & Gamble executive to head up its ongoing turnaround effort.     The company appointed Patrice Louvet as president and CEO, effective July 17, 2017. At the time, he will also be appointed to the board. Louvet will dual report to founder Ralph Lauren in his capacity as executive chairman and to the company’s board.  

A month after it announced it would close 400 stores, the other shoe has dropped at Rue 21.   The Warrendale, Pennsylvania-based retailer announced it has filed for Chapter 11 bankruptcy protection and entered into agreements with some of its lenders to reduce the company's debt and provide additional capital in support of its restructuring. The company, which expects to continue normal business operations throughout the process, listed its assets and liabilities in the range of $1 billion and $10 billion, according to its court filing.