Mergers & Acquisitions

From salty snacks and soft drinks to motor oil and car parts, Advance Auto Parts has tapped a lifelong PepsiCo executive to serve as its next CEO.

Amid ongoing pressure from investors to maximize the value of its real estate holdings, Macy’s has appointed Douglas W. Sesler as executive VP for real estate, effective April 5.

For about three hours the morning of April 4 it looked like Christopher & Banks had found itself a new board member, but then the company discovered a conflict that prevented the high level executive from accepting the nomination.

Crate and Barrel is going to try its luck in Nevada.

The home furnishings retailer has signed a lease to open a store at Downtown Summerlin, Summerlin, Nevada, a Howard Hughes Corp. development. The 106-acre retail and entertainment center is located in the Summerlin master planned community.

The Kroger Co. is making a “meaningful” investment in specialty natural/organic grocery chain Lucky’s Market that could expand the supermarket giant’s product assortment.

Kroger did not disclose the size of its stake in Lucky’s, which is based in Boulder, Colorado, and operates 17 stores in 13 states throughout the Midwest and Southeast U.S. Lucky’s stores average 30,000-sq.-ft. and are laid out to resemble an indoor farmers market, and also offer an assortment of prepared foods.

Chipotle Mexican Grill is thinking about getting into the burger business.

The fast-casual giant, which is still struggling to recover financially from food-safety problems that surfaced last summer, filed a trademark application for "Better Burger" as part of a business diversification move to open a burger restaurant chain.

To sophisticated landlords and property managers, co-tenancy provisions contained in commercial leases are routine and (relatively) unexciting. Unfortunately — and perhaps as a result — such clauses are often overlooked. But a co-tenancy default can have a significant impact on a landlord’s bottom line, so landlords and their agents who manage their properties should understand how these provisions operate and the remedies to which a tenant is entitled in the event of a default.