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Mergers & Acquisitions

  • InvenTrust buys adjoining centers in Pembroke Pines

    Acquisition-minded Inventrust Properties has announced the purchase of two adjoining centers in Pembroke Pines, Florida, for a total of $163 million. Following completion of an expansion project later this year, the two will total 389,000 sq. ft.   The dominant Westfork Plaza is anchored by Costco and Regal Cinemas and includes Ross Dress for Less, T.J. Maxx, and Petco. The adjoining Paraiso Parc is a Publix- anchored center with restaurants including Firehouse Subs and necessity-based retail.  

  • Two home furnishing rivals in legal battle over trade secrets

    Restoration Hardware has filed a lawsuit against Crate and Barrel, accusing the rival brand of stealing confidential information to gain a competitive edge.   Restoration Hardware claims Crate and Barrel implemented a similar strategy that features food and beverage services at certain gallery locations.   

  • Teen apparel retailer names new chief marketer

    Will A. Smith has joined Abercrombie & Fitch Co. as chief marketing officer.   Smith, who will report to president and chief merchandising officer Fran Horowitz, will be responsible for all brand, creative and digital marketing across the chain.   

  • Analyst: ‘Still chance of a reasonable outcome’ for Walgreens-Rite Aid deal

    An Evercore ISI analyst maintained his “buy” rating on Walgreens Boots Alliance stock, stating that although its proposed deadline for a deal with Rite Aid has been delayed, “there is still a chance of a reasonable outcome for both parties.”   The companies pushed back the deadline for merger from Jan. 27 to July 31 and trimmed the purchase price paid to Rite Aid to $6.50 to $7 per share — based upon the number of store divestitures the FTC requires — from $9 per share.  

  • Fred’s remains committed to buy divested Rite Aid locations

    Fred’s Pharmacy confirmed its agreement to purchase divested stores remains in effect following Monday’s news that Walgreens Boots Alliance and Rite Aid extended the deadline for their potential merger agreement.  

  • Office supply giant names tech exec as new CEO

    Office Depot has named a successor to CEO Roland Smith, who previously announced his intention to retire from the company. The company also named a new chairman.    The retailer has appointed Gerry P. Smith as CEO, effective Feb. 27. Smith currently serves as executive VP and COO of Lenovo Group, a $45 billion global technology company.  

  • Walgreens, Rite Aid extend end date for merger

    Walgreens Boots Alliance and Rite Aid on Monday morning extended their previously announced definitive merger agreement under which Walgreens Boots Alliance will acquire all outstanding shares of Rite Aid.   The retail pharmacy operations also restructured a new deal that would value Rite Aid at between about $6.8 billion and $7.4 billion, depending on required store divestitures, down from an initial acquisition cost of $9.4 billion.  

  • Shoes.com shuts down operations

    In an abrupt move, Shoes.com pulled the plug on its operations on Friday, Jan. 27.   The company, which said in September it was preparing for its next phase of growth, took its three e-commerce businesses, Shoes.com, ShoeMe.ca and OnlineShoes.com, offline, and closed the doors to two brick-and-mortar locations in Vancouver and Toronto.  
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