Mergers & Acquisitions

Photo: Noel Mannion   Noel Mannion, who spent the bulk of his career with the National Realty & Development Corp., has been named the Purchase, New York-based company’s executive VP of property operations.   Mannion, previously managing director of operations, will be responsible for overseeing budgeting, maintenance, repair and improvement projects, billing, lease administration, and risk management for NRDC’s portfolio of more than 78 projects in 14 states.  

A pioneer in mobile ordering and payment capabilities, Subway is making a bold move to keep its digital strategies innovative.  

Aeropostale Inc. will live to see another day after all.    A consortium, including Simon Property Group Inc. General Growth Properties Inc. and Authentic Brands Group, won the bankruptcy auction for Aeropostale Inc. The group, which also includes liquidators Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC,  plans to keep at least 229 of the teen retailer’s stores up and running along with Aeropostale's e-commerce business and  international licensing business.   

PayPal Holdings has expanded its growing foothold in physical retail.    The payments services company has entered into a partnership with MasterCard that will allow shoppers to use PayPal’s services in stores. In July, PayPal signed a similar agreement with Visa.    

Johnson Controls has completed its merger with Tyco.   By uniting Johnson Controls, a leading provider of building efficiency solutions with Tyco, a leading provider of fire and security solutions, the new company is positioned as a leader in products, technologies and integrated solutions for the buildings and energy sectors.   

Casey’s General’s Stores on Tuesday detailed an aggressive store expansion and renovation schedule along with record earnings for its first quarter.   The Iowa-based chain expects to build or acquire 77 to 116 stores, replace 35 existing locations, and complete 100 major remodels in its current fiscal year. Currently, it has 39 new stores under construction, including its first store in the state of Ohio.  

CBL & Associates and High Real Estate Group has the sold their joint interest in High Pointe Commons in Harrisburg, Pennsylvania, to Unison Realty Partners for $33.8 million.    The proceeds will be used by the sellers to retire secured loans totaling $17.4 million, and CBL will use its net proceeds to reduce outstanding balances on its lines of credit.  

A new beauty format aimed at men is expanding through franchising.   Hammer & Nails | Grooming Shop for Guys announced it has sold franchise rights for 27 locations in Sacramento, California and in the San Francisco Bay Area, and for 55 franchises in Texas and New Mexico.