Mergers & Acquisitions

The formerly high-flying Nasty Gal has been brought down to earth — and not in a good way.   The bankrupt fashion retailer will close its two Los Angeles-area stores by the end of February, the Wall Street Journal reported.    On Feb. 8, U.S. Bankruptcy Court for the Central District of California approved the sale of Nasty Gal’s intellectual property and customer database to British online fashion retailer Boohoo.com, which is seeking to speed up its expansion in the United States. 

Mattress Firm has tapped a veteran energy marketing executive to head up its marketing efforts.    The company has appointed Sicily Dickenson as its chief marketing officer. Dickenson brings more than 13 years of experience in digital marketing, marketing communications, creative services and brand marketing.    

Lidl is coming out of the starting gate in the United States earlier than expected — and it isn’t going to waste any time ramping up its store base.   The discount grocer will open its first U.S. stores this summer, with plans to open up to 100 locations across the East Coast within a year, the Associated Press reported. The chain initially had said it planned to enter the U.S. market no later than 2018.    

Walmart has added another online asset to its battle against Amazon.   The chain announced it has acquired Moosejaw, an outdoor retailer know for its social media marketing expertise and strong online following among younger consumers, for approximately $51 million.    The acquisition, which closed on Feb. 13, is Walmart’s second acquisition in less than two months. In late December, the chain’s Jet.com unit acquired online footwear retailer ShoeBuy.    

The online retailer is expanding its presence in California.   Amazon has pre-leased an additional one million sq. ft. of logistics space from Goodman Commerce Center Eastvale, California, according to a statement by Goodman. Goodman will construct the logistics center for Amazon.  

CBL & Associates has named Curt Hammontree VP of development. In nearly 18 years with the company, he has worked on 18 mall and outlet developments, the most recent being an outlet project in Laredo, Texas.   “Curt has been a valuable contributor to CBL’s successful development,” said president and CEO Stephen Lebovitz. “We are pleased to be able to recognize his many achievements with this promotion.”  

BJ’s Wholesale Club could see a change in ownership.   The company’s private equity owners, Leonard Green & Partners and CVS Capital Partners Ltd., are hiring investment bankers to advise them on options, reported the Wall Street Journal.   The two buyout firms acquired BJ’s in 2011 for approximately $3 billion. The retailer, which is based in Westborough, Massachusetts, operates 213 stores and 130 BJ's Gas locations 15 states.    

The ever-expanding Dollar General has entered its 44th state.   The discounter opened a store in Hankinson, North Dakota. The company plans to open six additional locations in the state through spring 2017.