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Mergers & Acquisitions

  • CVS Health finalizes Target pharmacy deal

    CVS Health has completed its acquisition of Target’s pharmacy and clinic business for approximately $1.9 billion, the two companies announced Wednesday.

  • Largest U.S. furniture retailer celebrates milestone store — with 100 more on tap

    Photo: (left to right) Thu Xuan, Thuy Nga, Duong Quoc Nam, Shari Wagner, Kevin Wagner, Minh Hua, and Robin Lim (PRNewsFoto/Ashley Furniture Industries, In)

  • A&P bankruptcy pushes central New Jersey retail vacancy rate up

    The demise of The Great Atlantic & Pacific Tea Co. elevated the retail vacancy rate along central New Jersey’s major shopping corridors to 8.8% from 7.5% in 2014.

    That’s according to the latest study by R.J. Brunelli & Co. Despite the uptick, the region’s 2015 vacancy factor remained a healthy distance from the 10.2% recorded in 2013 and the eight-year high of 10.5% set in 2011, but was well above the period’s low point of 4.8% posted in 2008.

  • Dick's Sporting Goods to backfill former J.C. Penney space at Cumberland Mall

    Vineland, N.J. -- PREIT announced its plans to open a Dick's Sporting Goods at Cumberland Mall in Vineland, New Jersey. The sports and fitness retailer will occupy the former J.C. Penney Department Store space in a 50,000 sq. ft. location.

    “This transaction demonstrates PREIT's continued success in replacing anchors with in-demand retailers,” states Joseph F. Coradino, CEO for PREIT "The addition of Dick's Sporting Goods will improve the merchandise mix and solidify the tenant roster at Cumberland Mall.”

  • Target phases out Pharmacy Rewards program

    This month, Target began contacting its Pharmacy Rewards members to informing them that the company was ending the rewards program because CVS/pharmacy will bring its own program when it replaces the pharmacies in Target stores as part of a deal between the two companies announced this summer.

  • Neiman Marcus hit by department store slump

    The strong dollar’s influence on tourism and store traffic led the Neiman Marcus Group to report a decline in same-store sales for the first time in six years.

  • Destination Maternity rejects takeover bid

    Destination Maternity Corp. has turned down an offer from a French company that disclosed a 13.1% stake in the U.S. company, according to a Securities and Exchange Commission filing Monday.

    The nation’s largest retailer of maternity apparel rejected an offer from children’s clothing company Orchestra-Premaman, which manufactures clothing for children and infants, saying the request for talks regarding a potential acquisition were not in the best interests of Destination Maternity shareholders.

  • Konover South closes $2.25 million, 4.43-acre land purchase

    Stuart, Fla. -- Konover South announced the acquisition of 4.43-acres of land for its new 30,587-sq.-ft. Stuart Landings retail center in Stuart, Florida, for $2.25 million.

    The center will be located at SE Federal Highway and SE Miami Ave., which shares U.S. 1 access with an adjacent Walmart Supercenter. Stuart Landings will feature a 17,837-sq.-ft. Aldi, a 3,500-sq.-ft. Aspen Dental with additional lease negotiations underway.

  • Report: Pep Boys accepts higher offer from Bridgestone

    According to the Associated Press, the company announced on Friday that it will sell itself to Bridgestone for $863 million, a $28 million increase over the previous deal. The two companies announced they would merge in October for a price of $15 per share. Then, Carl Icahn stepped in last week, offering $15.50 per share. [Nashville Business Journal]

  • Report: Private equity interest in retail remains high

    Despite the mixed outlook for holiday sales, the private equity community remains interested in retail, believing that the sector can offer the opportunity to achieve scalable growth.

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