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Mergers & Acquisitions

  • Jos. A. Bank terminates Jim’s Formal Wear tux agreement

    Fremont, Calif. - Jos. A. Bank has reached an early termination agreement with Jim's Formal Wear, effective Dec. 31. The company will record a one-time charge of $4.5 million in its fiscal 2014 third quarter in connection with early termination of this contract to supply tuxedo rental inventory and logistics.

  • MarineMax expands financing capacity, expects growth

    Clearwater, Fla. - MarineMax Inc. has expanded its financing facility to provide for borrowings of up to $235 million. The expanded facility has a three-year term, expiring in August 2017, and it has two, one-year options to renew, subject to lender approval.

  • Wet Seal CEO resigns; former chief exec returns to helm

    Foothill Ranch, Calif. – In a regulatory filing with the Securities and Exchange Commission, Wet Seal Inc. said John D. Goodman has resigned as CEO, effective Aug. 26.

  • Amazon taps new CFO

    Amazon has confirmed that SVP and CFO Thomas J. Szkutak plans to retire from the company in June 2015. Succeeding him will be Brian T. Olsavsky, VP of finance for the company’s global consumer business, reporting to founder and CEO Jeffrey P. Bezos.

    Szkutak has been Amazon’s CFO since joining the company in October 2002 and oversees the controller, treasury, investor relations, tax, internal audit and facilities functions as well as financial management of the company’s business units.

  • Keurig Green Mountain and The Coca-Cola Company expand agreement

    Keurig Green Mountain and The Coca Cola Company have expanded their agreement to include select beverages from Coca Cola’s still brands portfolio in the Keurig hot brewing system in the United States and Canada. As such, Honest Tea will be the first brand from The Coca Cola Company available in K-Cup packs.

  • Office Depot taps former Sears exec as CIO of international

    Keith Sherwell, who served as CIO of Sears Holding Corp from March 2010 to June 2013, has been named CIO of the Office Depot international division, effective Sept. 15. Sherwell advised the board of OfficeMax during merger negotiations with Office Depot, and has served as a technology integration consultant to Office Depot since the completion of the merger in November 2013.

  • Wet Seal picks familiar face as new CEO

    Wet Seal CEO John D. Goodman has resigned from the role he took in January 2013. He was charged with turning things around for the struggling retailer and replaced Susan McGalla, who was herself ousted after 11 months amid declining sales.

  • Report: Judge approves EBay antitrust settlement

    San Francisco – A federal judge has reportedly approved an antitrust settlement EBay reached in May 2012. The settlement relates to a secret deal EBay reached with tax preparation software provider Intuit in which the two companies agreed not to hire each other’s employees.

    According to Reuters, the settlement calls for EBay to not make any deals with any other technology companies to avoid hiring each other’s employees.

     

  • Market Basket to open four to five stores

    Tewksbury, Mass. – The Market Basket supermarket chain is wasting no time in moving forward following its purchase by former CEO Arthur T. Demoulas for $1.5 billion on Aug. 28. According to the Boston Globe, Market Basket plans to open at least four new stores in Massachusetts the near future.

  • Report: Credit Suisse supports Staples-Office Depot merger

    New York – A Credit Suisse analyst is reportedly recommending that Staples and Office Depot, itself recently merged with Office Max, merge. According to Investors Business Daily, Credit Suisse analyst Gary Balter made the suggestion in a note sent to clients on Tuesday, Sept. 2.

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