Mergers & Acquisitions

Private equity firm Sun Capital Partners plans to accelerate growth of Furniture Factory Outlet following its acquisition of the 36 store chain.

Based in Fort Smith, Ark., Furniture Factory Outlet (FFO Home) operates 36 stores in Arkansas, Missouri, Oklahoma, and Kansas. Sun Capital said it acquired the company, billed as a value-oriented home furnishings retailer, from Alpine Investors and believes significant expansion opportunities exist. The company also manufactures bedding under the Comfort Coil and Natural Elements brands.

While Whole Foods Market continues to work on the performance of its flagship stores, the company disclosed new locations and expressed confidence in its new store concept, “365 by Whole Foods Market,” even though the first location is not scheduled to open until May.

More than 200 O’Reilly Automotive stores are expected to open in 2016 after the nation’s third largest auto parts retailer logged strong fourth quarter results and its 23rd consecutive year of same-store sales growth.

With its share price in free fall after badly missing analysts’ fourth quarter profit estimate, Amazon.com has decided to spend billions buying back its own shares.

Amazon.com disclosed in a filing with the Securities and Exchange Commission that it named a new board member and its board authorized the company to repurchase up to $5 billion worth of the company’s common stock. The new authorization replaces an existing $2 billion authorization that was approved in 2010, of which only $1.237 had been expended.

Women’s apparel retailer Joyce Leslie is calling it a day.

The company announced that it has received approval from the U.S. Federal Bankruptcy Court for a sale of its intellectual property and retail store leases, along with the lease of its corporate office and distribution center.

Chattanooga, Tenn. -- CBL & Associates Properties announced that it closed on a new 10/90 joint venture for Triangle Town Center and Commons in Raleigh, North Carolina, with DRA Advisors. The new joint venture acquired the property from the existing 50/50 joint venture between CBL and The Richard E. Jacobs Group for a total consideration of $174.0 million, including assumption of a $171.1 million loan secured by the property. CBL now holds a 10% ownership position in the asset and is responsible for leasing and managing, earning customary fees.

Staples secured approval of its acquisition of Office Depot from European regulators after agreeing to numerous concessions. Now similar actions may be required if the company is to win over a stubborn U.S. Federal Trade Commission.

Staples said it received approval from the European Union to acquire Office Depot, highlighted a range of actions it took to alleviate the regulator’s competitive concerns and used the action to take a jab at the U.S. Federal Trade Commission (FTC).

Cabela’s executive VP and chief commercial officer Scott Williams has been elevated to the role of president and given additional responsibilities in a move that positions him to succeed longtime CEO Tommy Millner.

Williams will continue to report to Millner. Williams will take on additional responsibility for U.S. retail operations and all operations in Canada.

Fourth quarter sales at CVS Health surged 11% to $41.1 billion, enabling the operator of nearly 10,000 stores to surpass a significant annual sales milestone.

Chattanooga, Tenn. -- CBL & Associates Properties announced plans to add home retailer West Elm at Friendly Center in Greensboro, North Carolina, as part of a 12,700-sq.-ft. expansion project for the center. West Elm will occupy approximately 9,000 sq. ft. of the total expansion, which also includes Pieology Pizzeria and an additional soon-to-be-named retailer.

The new development will be located between Anthropologie and Whole Foods. Construction on the space is currently underway, and both West Elm and Pieology are scheduled to open fall 2016.