Mergers & Acquisitions

Teen and pre-teen retailer Five Below landed two senior executives from Walmart.com and Ascena Retail Group for key roles as it looks to accelerate an already rapid pace of growth.

Walmart.com president and CEO Joel Anderson will join Five Below as president in July to oversee all aspects of merchandising, stores and marketing. Eric Specter, most recently EVP and chief integration officer for Ascena, will serve as Five Below’s chief administrative officer and oversee supply chain, information technology and real estate.

Austin, Texas - Epicor Software Corp. is launching a strategic partnership with integrated payment solutions provider AJB Software Design, Inc. to simplify and secure electronic payment acceptance at the point-of-purchase, enabling retailers to accommodate new and emerging methods of payment and comply with security best practices such as the forthcoming Europay, MasterCard and Visa (“EMV”) initiative.   

New York - A Delaware judge has denied a request  to block Tuesday's vote by Family Dollar Stores on a  $8.5 billion take-over bid by Dollar Tree,  saying dissident shareholders "failed to demonstrate a reasonable probability of success on any of their claims."   A shareholder lawsuit had requested a preliminary injunction against the vote until Family Dollar “properly engaged” in talks  with rival Dollar General to “achieve a value-maximizing transaction.”  

Minneapolis – Appliance Recycling Centers of America Inc. (ARCA) has named Jeffery Ostapeic as the company's CFO. Ostapeic is a certified public accountant and served most recently as an audit partner with Grant Thornton LLP, an international accounting firm.   

Deerfield, Ill. - Walgreen Co. intends to apply to list the shares of Walgreens Boots Alliance Inc. common stock on The Nasdaq Stock Market under the ticker symbol “WBA” following the closing of its merger with UK-based pharmacy retailer Alliance Boots. The company will voluntarily withdraw its common stock from listing on both the New York Stock Exchange (NYSE) and the Chicago Stock Exchange (CHX).  

Boise, Idaho – As part of divestures to receive FTC clearance of their proposed January 2015 merger, AB Acquisitions Inc. (Albertsons) and Safeway Inc. will sell 146 stores to Pacific Northwest grocery chain Haggen. With this acquisition, which remains subject to FTC approval, Haggen will expand from 18 stores with 16 pharmacies to 164 stores with 106 pharmacies.

Boise, Idaho – As part of divestures to receive FTC clearance of their proposed January 2015 merger, AB Acquisitions Inc. (Albertsons) and Safeway Inc. will sell 146 stores to Pacific Northwest grocery chain Haggen. With this acquisition, which remains subject to FTC approval, Haggen will expand from 18 stores with 16 pharmacies to 164 stores with 106 pharmacies.  

Los Angeles – Change is occurring at American Apparel Inc., and it may be coming from external as well as internal sources. The board of directors of American Apparel has confirmed that it has received an indication of interest to acquire the struggling company for $1.30 to $1.40 per share.    The identity of the potential buyer has not been disclosed, but in a press release American Apparel said it “takes these matters seriously, and will evaluate this proposal in the ordinary course of business. 

Gap has appointed a new CEO. Art Peck, currently president of the company’s growth, innovation and digital division, will succeed Glenn Murphy as the company’s next executive chief, effective Feb. 1, 2015.

The company said that after seven years in his role, Murphy made the personal decision to leave the company at the end of the fiscal year. Under Murphy’s stewardship, the company acquired new brands and globalized its business by expanding store locations from 10 to 50 countries, including China.

Embattled retailer American Apparel Inc. is restructuring its board amid rumors that the company is evaluating an offer to sell itself at a hefty premium.

The company, which recently ousted its chief executive and founder Dov Charney, announced that Allan Mayer and David Danziger have stepped down as co-chairmen of the board and will be replaced by board member Colleen B. Brown as chairperson. Mayer and Danziger will continue to serve as members of the board and will retain their positions as chairs of the compensation and audit committees, respectively.