Mergers & Acquisitions

Houston -- Houston-based Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, announced the acquisition of a 2.12-acre property with an existing 13,000-sq.-ft. office building located near the cross streets of U.S. Highway 59 N and West Little York Road in Houston.

Sears Canada Inc. is looking for its fourth CEO in a little over two years as the company seeks to return to profitability.

Sears said Ronald D. Boire will be departing from his position as president and CEO of the company at the end of the summer to pursue an opportunity in the United States. On the same day, Barnes & Noble announced that opportunity is CEO of that company's retail business.

Sears Canada said that Brandon G. Stranzl, chairman of the board of the corporation, has been named executive chairman effective immediately.

Family Dollar had a dip in profit in the third quarter as the company reported higher costs ahead of its planned merger with Dollar Tree.

Family Dollar Stores Inc. reported a profit of $79.9 million, or 70 cents a share, for the third quarter ended May 30, down from $81.1 million, or 71 cents a share, a year earlier. Excluding restructuring- and merger-related charges, the company’s profit was 74 cents a share, compared with 85 cents a year earlier. Net sales rose 2.60% to $2.73 billion.

New York – Barnes & Noble Inc. has tapped Ronald D. Boire, currently president and CEO of Sears Canada Inc., to become the CEO of its new retail division, effective Sept. 8.

Littleton, Mass. – Specialty equestrian retailer Dover Saddlery Inc. is jumping into a new business arrangement.

Dover Saddlery has completed its merger with a company formed by Webster Capital. Dover shareholders will receive $8.50 per share in cash in the merger, and all in-the-money stock options and warrants will be cashed out.

Dublin, Calif. -- Ross Dress for Less will open two new stores in the Raleigh, North Carolina, area on July 18.  The stores are located in the Wake Forest Crossing in Wake Forest, 15 miles northeast of downtown Raleigh, and the Shops at Cameron in Sanford, 50 miles southwest of Raleigh.  

These openings are part of the retailer’s 2015 expansion program, totaling approximately 70 new locations during the year.  
 

Barnes & Noble is hoping that hiring a CEO with experience launching electronics products will help revive its Nook e-reader division.

The retailer has named Ronald D. Boire, currently president and CEO of Sears Canada Inc., to become the CEO of its new retail division.

San Jose, Calif. – PayPal Inc. is getting itself “in the money” with a major acquisition as the company prepares for its impending July 17 split from eBay Inc.

PayPal will purchase digital money transfer service Xoom Corp. for $25 per share in cash, or about $890 million.