Mergers & Acquisitions

Dublin, Calif. - Ross Dress for Less will open a new store in Arizona on Oct. 11. The store is located in the Maryvale Plaza Shopping Center in Phoenix. This new opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year. 

Together, Ross Dress for Less and DD’s Discounts currently operate more than 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.
 

Dublin, Calif. – DD’s Discounts, a division of Ross Stores Inc. will open its first store in Louisiana on Sept. 27. The store is located in the Westside South Shopping Center in Gretna.

Including this new location, DD’s Discounts will operate approximately 150 locations in 14 states and is on schedule to complete its expansion plan to open approximately 20 locations in 2014.

Washington, D.C. -- Real estate brokerage house Cassidy Turley has entered into an agreement with an affiliate of DTZ Investment Holdings to be acquired for an undisclosed sum. The buyer group is comprised of TPG, PAG Asia Capital and Ontario Teachers’ Pension Plan, which is acquiring DTZ and Cassidy Turley, then combining the two into one global company with revenues of more than $2.9 billion and more than 28,200 total employees.

Both acquisitions – of DTZ and of Cassidy Turley – are expected to be completed prior to year-end 2014.

New York -- Winick Realty Group announced that its New Jersey office has expanded, leasing a new location at 4 Commerce Drive in Cranford, which doubles the size of the company’s existing office.

The new 2,500-sq.-ft. office, which is set to open on Oct. 1, will allow the New Jersey branch to eventually accommodate up to 20 brokers and support staff.

Winick Realty Group said it plans to announce several new hires in its New Jersey office shortly after the completion of the move.

YCD Multimedia, a provider of professional digital signage software solutions, has promoted Sam Losar, currently its president of US operations, to CEO.
 
Assuming CEO responsibility from company co-founder Noam Levavi, Losar will be trusted with continuing to expand the growth he achieved in the Americas to its business operations in Europe and Asia.

Noam Levavi co-founded the company in 1999 in Israel and led it for more than a decade.

Just three weeks after Alco appointed a brand new board of directors, the company reported a net loss of $7 million in the second quarter, compared to net earnings of $800,000 a year earlier, thanks in part to growing costs of advertising, new stores and store support.

Memphis, Tenn. -- AutoZone on Monday reported better-than-expected fiscal fourth-quarter net income of $373.7 million from $347.8 million a year earlier. The chain also reported a milestone as its net income for the full year rose 7.7% to $1.1 billion.


The auto parts retailer’s revenue in the fourth quarter rose 3.4% to $3.05 billion in the period, up falling short of Street forecasts of $3.06 billion. Same-store sales rose 2.1%.

New York -- British supermarket retailer Tesco suspended four executives, including its U.K. managing director, after revealing that its half-year profit was overstated by $407 million, the BBC reported. The retailer has launched an investigation headed by Deloitte.

Tesco CEO Dave Lewis, who took over the struggling company in September, said the decision to ask employees to stand aside was not an indication of guilt or that disciplinary action was warranted. He declined to speculate on what the investigation might turn up.

Washington, D.C. -- The Washington, DC-based brokerage Cassidy Turley agreed to sell 100% of its equity interests to an affiliate of DTZ Investment Holdings, which is backed by a consortium of investors.

The deal is expected to fully close on Dec. 31, after the consortium acquires DTZ around Oct. 31

Alpharetta, Ga. - McAlister's Deli has signed an agreement with existing franchise group Southern Deli Holdings LLC to open 10 additional locations throughout North and South Carolina, Colorado and Wyoming, with three locations slated to open in late 2014. In addition, the franchise group recently acquired seven existing locations in St. Louis.

The new development commitments will result in two new restaurants per year during the next five years.