Mergers & Acquisitions

Lowe’s takeover of Canadian home improvement chain gets regulatory OK With regulatory hurdles out of the way, Lowe's Cos. is one step closer to completing its acquisition of Canadian home improvement retailer Rona Inc. Lowe's has officially been granted approval under the Investment Canada Act and clearance from the Competition Bureau. Rone operates nearly 500 stores in Canada.

Online retailer—and would-be rival to Amazon— Jet.com is continuing to spread its wings. The retailer is testing a home delivery service for fresh groceries in certain markets in the metro areas of New York, New Jersey and Connecticut, Pennsylvania and Washington, D.C. According to an email sent to some customers, produce delivery will take one to two days, with no fee for orders of $35 or more.

Mark Horgan has been named executive vice president and chief investment officer at Brixmor Property Group and been give a wide range of responsibilities as the newest member of a revamped senior leadership team.

Party City Holdco Inc. narrowed its loss in the first quarter as gross margins improved. The party supplies retailer and wholesaler reported a loss of $394,000, in line with Wall Street expectations, for the quarter ended March 31, down from a loss of $8.5 million in the year-ago period. Total revenue was flat at $457.7 million, which missed Street forecasts.

ICSC’s annual RECon convention has long been a rite of spring for many real estate professionals. For three decades, RECon has brought dealmakers and decision-makers to Las Vegas, and today the event regularly attracts more than 30,000 attendees.

The nation’s two largest office-supply chains have pulled the plug on their $6.3 billion merger.

The nation’s largest U.S. apparel retailer is looking to streamline its model. Amid first quarter same-store sales declines across all its brands, Gap Inc. said it is identifying opportunities to streamline its business to be more efficient and flexible. The retailer also is evaluating its Banana Republic and Old Navy store fleets, mostly outside of North America, with an eye to sharpening its focus on geographies with the greatest potential.

The mergers and acquisitions market in consumer-retail overall will be active in 2016, but will also return to a more rational market with better balance between buyers and sellers and more reasonable deal values for higher-risk acquisitions.