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Mergers & Acquisitions

  • Indian e-commerce provider Flipkart receives $1 billion funding

    Bangalore, India – Indian e-commerce platform Flipkart has received about $1 billion in funding from investors including existing backer Tiger Global Management, as well as new stakeholders Morgan Stanley and Singapore-based sovereign wealth fund GIC. Flipkart operates as an online marketplace for 3,000 individual merchants, similar to China’s Alibaba.com.

  • Bill Me Later becomes PayPal Credit; goes global

    San Jose, Calif. – PayPal is rebranding its Bill Me Later online credit service as PayPal Credit. PayPal says it is making the name change as it moves credit more towards the center of our business, aligning it more closely with the overall brand.

    In addition, PayPal plans to introduce PayPal Credit to the U.K. and Germany, based on requests from customers and retailers. The company also plans to expand PayPal Credit to other markets in the future.

  • Nordstrom Rack to open in Staten Island

    New York — Nordstrom has announced plans to open a Nordstrom Rack at the Empire Outlets in Staten Island. The 34,000-sq.-ft. store is scheduled to open in fall 2016. The property is being developed by BFC Partners.

  • CBRE names senior VP over Capital Markets

    Phoenix — CBRE Group, Inc. announced that Geoffrey Harris has joined the firm’s Capital Markets’ Debt and Structured Finance team as senior VP.

    Based in Phoenix, Harris will play a key role in originating net-leased transactions for the firm nationally, in the multi and single-tenant, office, retail and industrial properties space.

    Harris joins CBRE from Meridian Capital where he was managing director. He previously served as VP of Capital Markets at Marcus & Millichap.

  • Ohio companies team toward new restaurant concept

    Youngstown, Ohio — AVI Foodsystems and Cafaro Co. have teamed to bring Bob Evans Farms into the mall food court environment.

    Warren, Ohio-based AVI collaborated with Bob Evans Farms to introduce Bob Evans Express, which scales down the traditional Bob Evans restaurant into a concept that works in venues such as workplace cafes, airports, travel plazas and universities.

  • Q3 net income falls at Destination Maternity; 21-23 new stores planned

    Philadelphia – Net income at Destination Maternity Corp. fell 36% to $5.5 million in the third quarter of fiscal 2014 from $8.6 million a year earlier. Expenses related to the planned relocation of Destination Maternity’s corporate headquarters and distribution facilities, as well as costs related to its proposed and withdrawn merger with Mothercare plc, drove the reduction in net income.

  • Activist investor Icahn reduces Family Dollar holdings

    Matthews, N.C. – Activist investor Carl Icahn, who had been pressuring Family Dollar to sell the company, has reduced his ownership stake in the company from 9.39% to 6.09%.

  • Wegmans plans 10 new stores

    Rochester, N.Y. – Wegmans Food Markets Inc. plans to open 10 new stores in the Northeast and mid-Atlantic regions. The stores include one in Maryland, two in Massachusetts, two in New Jersey, one in Pennsylvania, and four in Virginia.

  • Couche Tard buys 55 Super Pantry stores in Illinois, Indiana

    Laval, Canada - Alimentation Couche-Tard Inc. will acquire 55 Super Pantry convenience stores and related assets from Tri Star Marketing Inc. Fifty-one of the stores are located in the state of Illinois ,and four stores located in the state of Indiana. These stores offer Phillips 66 and Mobil branded motor fuel.

  • FTD buys Provide Commerce, creates $1 billion floral retailer

    Downers Grove, Ill. -- FTD Companies Inc. will acquire the Provide Commerce floral and gifting business from Liberty Interactive Corp. for $430 million in cash and stock. Both companies have annual revenues of more than $600 million.

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