Mergers & Acquisitions

New York -- After months of delay and a failed bid by Dollar General, Family Dollar shareholders agreed to be acquired by Dollar Tree in a deal that creates a combined company with more than 14,000 locations, estimated annual sales of $19 billion and compelling growth opportunities.

Approval of the deal creates a new competitive dynamic in the world of extreme value retailing with the combination of Dollar Tree and Family Dollar making for a more formidable competitor to Dollar General and its nearly 12,000 stores.

Walmart is capping off the end of its fiscal year with a flurry of activity, as the retailer is poised to open more stores in Canada.

Walmart said it will open 11 new supercenters by Jan. 29, completing its expansion for the company's current fiscal year ending Jan. 31.

These openings will bring Walmart’s total store count in Canada to 394 stores.

Dollar General CEO Rick Dreiling had planned to retire in a few months, but after Family Dollar shareholder’s snubbed his company’s buyout offer, Dreiling said he’ll stick around a bit longer.

Sears Holdings has a new leader for its Kmart pharmacy division. The company announced that it has hired  Phil Keough as SVP and president, pharmacy.

Keough most recently served as CEO and president of Millennium Pharmacy Systems, a long-term care pharmacy provider, and led the sale of the company to PharMerica.

In his new role with Sears Holdings, Keough will be responsible for leading the Kmart Pharmacy business unit and driving Shop Your Way member engagement to enable online and in-store growth of the company’s Health & Wellness businesses.

New York -- Ebay Inc.  plans to cut about 2,400 positions, or 7% of its workforce, across eBay marketplaces, PayPal, and eBay enterprise in the current quarter to simplify its organizational structure.

The company also said it will explore strategic options for eBay enterprise, including a sale or an IPO.

New York -- Whole Foods Market plans to open six new locations in Chicago, four of which will open in May, according to Crain’s Chicago Business.

The new stores will be located in former Dominick’s locations.

“We took the time to design and build a brand new store for each community that would offer not just a full-service grocery, but also a place to meet friends and share each other’s company,” said Michael Bashaw, president of Whole Foods Market’s Midwest Region, in a statement.

Seattle -- Nordstrom announced three new upcoming locations for Nordstrom Rack.

The company will open a 36,000-sq.-ft. store at Wayne Towne Center in Wayne, New Jersey, in fall 2015. This will be the sixth Nordstrom Rack in New Jersey.

In fall 2016, Nordstrom Rack will open a 35,540-sq.-ft. store at Hamilton Crossing in Allentown, Pennsylvania. The property is owned and being developed by The Goldenberg Group.
 

Washington, D.C. -- Madison Marquette announced that Brad Muth has joined the company as senior managing director, portfolio management. With more than 25 years of real estate investment experience, Muth will oversee portfolio management and asset management functions for Madison Marquette. He will be based in the San Francisco office.

Goleta, Calif. - Deckers Brands has appointed David E. Lafitte to COO, effective Feb. 2. Lafitte previously served as the company's general counsel.

He replaces Zohar Ziv, who retired from the company on Jan. 16, 2015.

Lafitte has served as general counsel of Deckers since January 2012 and also was a shareholder in the law firm, Stradling, Yocca, Carlson & Rauth, P.C. where he was a member of the firm's board of directors and executive committee.

Ebay Inc. said it plans to cut about 2,400 positions, or 7% of its workforce, across eBay marketplaces, PayPal, and eBay enterprise in the current quarter to simplify its organizational structure.

The company also said it will explore strategic options for eBay enterprise, including a sale or an IPO.