Mergers & Acquisitions

New York -- A. Alfred Taubman, a real estate developer who is credited with inventing the modern indoor shopping center, has died. The 91-year-old Taubman died Friday evening of a heart attack at his Bloomfield Hills, Michigan, home.

The announcement was made over the weekend by his son, Robert Taubman, chairman, president and CEO of Taubman Centers Inc., in a statement to employees.

New York -- Staples said it has named Peter J. Scala as executive VP, merchandising, effective immediately. Scala will report to Demos Parneros, president, North American stores and online, and will be a member of the company’s executive committee.

Most recently, Scala served as senior VP of merchandising, online marketplace, leading the rapid expansion of Staples’ product assortment to support small and mid-size business customers.

Phoenix -- Sprouts Farmers Market said it has completed a new five-year, $450 million revolving credit facility to replace its existing term loan and revolving credit facility.

Oak Brook, Ill. - Inland American Real Estate Trust Inc. has changed its name to InvenTrust Properties Corp., effective immediately. The company’s new website address is Inventrustproperties.com.

Corporate identities don’t get more generic than Brown Shoe Company which helps explain the shift to a new name but most customers won’t even notice.

Chattanooga, Tenn. - CBL & Associates Properties Inc. and Horizon Group Properties Inc. have begun construction on the second phase of The Outlet Shoppes at Atlanta. The 33,000-sq.-ft. expansion is scheduled to open before the 2015 holiday season and will bring several popular retailers to the center, including Gap Outlet and Banana Republic.

Shares of Etsy enjoyed a meteoric rise during their first day of trading on April 16, closing at $30 a share after shares in the initial public offering were priced at $16.

New York - Saks Fifth Avenue has named Tracy Margolies as chief merchant, effective May 11, 2015. Margolies will drive the strategic direction and performance of all buying activities for Saks, and will report to Marc Metrick, president of Saks Fifth Avenue.

Margolies rejoins Saks Fifth Avenue after serving as senior VP and general merchandise manager, beauty, contemporary 5F, footwear and handbags at Bergdorf Goodman. Previously, Margolies spent seven years at Saks as VP, division merchandise manager, women's footwear.