Mergers & Acquisitions

It is one of the smaller acquisitions CVS Caremark has done, but the purchase of the 33-unit Miami-based Navarro Discount Pharmacy could have big implications.

CVS Caremark late Monday said it reached an agreement with Navarro, the largest Hispanic owned drugstore chain in the U.S., to acquire 33 stores and Navarro Health Services, a specialty pharmacy serving patients with complex or chronic diseases. CVS Caremark operates more than 7,600 stores, but said it will continue operating the acquired units under the Navarro banner.

Latham, New York -- DWM Facilities Maintenance announces today the promotion of Paul Meeks to executive VP of projects.  Meeks was an integral part of founding DWM with his brother David and has been with the company since its inception in 1997.

Unilever has sold its Slim-Fast brand to Kainos Capital. The supplier of food, home and personal care products will retain a minority stake in the business. Terms of the transaction, which was completed late this week, were not disclosed.

The transaction includes the Slim-Fast trademark and the global Slim-Fast business portfolio. Slim-Fast is sold throughout North America and in the United Kingdom and Ireland.

Drawbridge, a leading cross-device advertising platform, has added former Apple exec Andy Miller to its board of directors.

Miller is a current adviser and the former president and COO of Leap Motion, as well as a former Partner at Highland Capital. Previously, Miller was VP of mobile advertising at Apple, reporting directly to Steve Jobs. He was co-founder and CEO of Quattro Wireless, which was acquired by Apple in 2009 and would become Apple's mobile advertising platform, iAd.

GE Capital is providing MerchSource with a $130 million senior credit facility providing working capital for the company’s operations in the U.S. and Hong Kong.
 
MerchSource, headquartered in Irvine, California, ideates, designs, develops and distributes a variety of consumer products in categories including electronics, toys, home décor, household accessories and pet supplies. Its products are sold in retailers such as Bed Bath & Beyond, CVS, Kohl’s, Macy’s, Target, Walgreens and Wal-Mart.
 

Supervalu has begun supplying the first of 18 Rainbow stores that are being acquired as part of the transactions that were announced May 7 between Roundy’s and a consortium of Supervalu and independent retailers.

Following the store conversions, Supervalu will supply all 18 of the acquired stores out of its Hopkins, Minn., distribution center.
 

New York – Bebe Store Inc. has named Seth Johnson, Blair Lambert and Brett Brewer to replace Caden Wang, Barbara Bass and Cynthia Cohen on the company’s board of directors, effective immediately. Johnson previously served as CEO of Pacific Sunwear of California Inc.

Johnson also served as COO and CFO of Abercrombie and Fitch. Prior to joining Abercrombie and Fitch he held positions at The Limited Inc., Batus Retail Group, Conoco, and Dayton Hudson (now known as Target).

New York -- American Apparel Inc. has reached an agreement with its largest shareholders that will bolster its financial situation, remake its board, and keep the retailer’s manufacturing in the United States.

Toronto -- Town Shoes Limited announced the opening of its first two DSW Designer Shoe Warehouse locations in Canada. DSW Designer Shoe Warehouse will open at Heartland Centre in Mississauga and Woodland Hills in Newmarket, Ontario, on Aug. 7.

The two new Canadian retail locations, each approximately 20,000 sq. ft. will make them the largest shoe stores in the country.

Edison, N.J. -- Kevin Mead, the former senior VP, director of Stores for The Children's Place, has joined the senior team at Aerosoles as executive VP, retail reporting directly to CEO Jules Schneider. Mead will lead the strategic direction, ongoing expansion and operations of Aerosoles retail and outlet locations.