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Mergers & Acquisitions

  • Johnny Rockets seeks to expand Asian foothold

    Aliso Viejo, Calif. – Johnny Rockets is now focusing its global expansion efforts on developments in Southeast Asia. The casual dining chain is seeking area developers for expansion into Thailand and Vietnam.

    Johnny Rockets currently operates Southeast Asian franchise stores in Indonesia, the Philippines and Malaysia through its 14 open restaurants and eight others in development.

  • Papa Murphy’s continues Jacksonville expansion

    Vancouver, Wash. – Papa Murphy’s Holdings Inc. is setting its sights on Jacksonville, Florida. The pizza chain is opening four new franchised stores in Jacksonville on Aug. 27.

    These stores will join five other Papa Murphy’s units already located in the greater Jacksonville area.
     

  • Blockbuster deal: Sycamore Partners buys Belk for $3 billion

    Charlotte, N.C. -- Private equity firm Sycamore Partners is adding a department store to its growing portfolio.

    Belk, the nation's largest family owned and operated department store company, on Monday announced that it has entered into a definitive agreement to be 100% acquired by Sycamore Partners in a transaction with an estimated value of approximately $3 billion.

  • Sycamore Partners to buy Belk for $3 billion

    Private equity firm Sycamore Partners is adding a department store to its growing portfolio, which includes such brands as Aeropostale, Jones New York and Nine West.

  • Miami Home Centers joins the True Value family

    The newest addition to the True Value Company cooperative is a 60-year-old hardware chain based in South Florida.

  • Completed merger creates third-largest U.S. specialty retailer

    Mahwah, N.J. — Ann Inc. is no more. 

    Ascena Retail Group Inc. has completed its acquisition of Ann Inc., formerly called Ann Taylor. Shares of Ann Inc. will be delisted from the NYSE and trading  ceased at the close of business on Friday, August 21st.   

  • New York & Company maintains Q3 loss plans five new stores

    New York — New York & Company Inc. maintained an essentially flat net loss in the third quarter of fiscal 2015, even as other financial metrics improved. The retailer reported net loss of $146 million, compared to $147 million the same period the previous fiscal year.

    Increased selling, general and administrative expenses, including charges related to headcount reductions, consulting fees and legal and moving expenses that were part of an ongoing business re-engineering project, helped keep New York & Company in the red.

  • The Fresh Market is wilting under competitive pressures

    The Fresh Market is not so fresh anymore to shoppers, if the retailer's second quarter results are any indication.

    The upscale grocery chain reported that same-store sales decreased 1% for the second quarter ended July 26, and the retailer expects an even bigger decrease in the next quarter, both below analysts' estimates. 

    The company reported 36 cents EPS for the quarter, missing analysts’ estimates of 40 cents. Net income rose 53.5% to $17.5 million, while net sales increased 4.7% to $442.1 million. 

  • Walgreens to expand in-store health clinics in Northwest

    Deerfield, Ill. — Walgreens and Providence Health & Services are entering a strategic clinical collaboration that plans to bring up to 25 new retail clinics to Oregon and Washington. The clinics will be owned and operated by Providence and its affiliates, and become the first to open at Walgreens stores under a new collaborative services model.

  • REIT pushes Sears into black

    Hoffman Estate, Ill. — A one-time gain of $2.7 billion from the creation of its publicly-traded Seritage Growth Properties real estate investment trust (REIT) pushed Sears Holdings Corp, into the black for the first time since 2012. Sears reported net income of $208 million in the second quarter of fiscal 2015, compared to a net loss of $573 million the same period the prior fiscal year.

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