Mergers & Acquisitions

With the value of its flagship store on New York City’s Fifth Avenue appraised at an astonishing $3.7 billion, Saks parent Hudson’s Bay Co. has taken out a $1.25 billion loan to pay down debt and finance a $250 million renovation in 2015.

Walmart has appointed Tom Horton, former chairman and CEO of American Airlines, as the 16th member of its board of directors. Horton will also serve on the audit committee.  

E-commerce firm BrandShop announced that Reuben Hendell has been named chief executive officer of the company. Hendell will also serve on BrandShop's board of directors.  

BrandShop provides digital commerce services for such brands as ArmorAll, Casio, Cuisinart, Hershey's, Nicorette, Ping, Samuel Adams and Waterpik.  

Joe Arcuri, vice president and general manager of Procter & Gamble's North American beauty business, has been hired as president of home solutions for Newell Rubbermaid. He'll start the new job on Dec. 1.  

"Joe brings an incredible set of global leadership experiences, a consistent pattern of excellent results and immense personal potential to the company as we continue the drive to make Newell Rubbermaid a larger, faster growing, more profitable, more global company," said Michael Polk, CEO of Newell Rubbermaid.  

BATAVIA, Ill. - Deep-discount grocer Aldi is ramping up its U.S. expansion. The company plans to open 650 new stores across the country, including expanding to Southern California, bringing its total number of U.S. stores to nearly 2,000 by the end of 2018.   

New Albany, Ohio - Abercrombie & Fitch Co. has entered into a franchise agreement with Grupo AXO to establish a retail store presence in Mexico. The franchise arrangement, the first in the company`s history, will encompass both the Abercrombie & Fitch and Hollister brands.  

Coppell, Texas – Bankrupt retailer Alco Stores is going out of business, and closing its 198 stores, a victim of both the economy and the changing retail landscape.   

Redmond, Washington - Retail Properties of America, Inc. announced the purchase of Avondale Plaza, a 39,000-sq.-ft. neighborhood shopping center in Redmond, Washington (Seattle MSA). The center is located on Avondale Road, and is anchored by PCC Natural Markets.   The purchase price was approximately $15 million.  

Boston - X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, released third quarter transactional volumes totaling $746 million, bringing its year-to-date transactional volume to more than $2.24 billion.   

Alco Stores is offering retailers a cautionary holiday tale this Christmas as going-out-of-business sales have begun at the regional discounter’s 198 locations.