Mergers & Acquisitions

Washington, D.C. -- Madison Marquette announced that Brad Muth has joined the company as senior managing director, portfolio management. With more than 25 years of real estate investment experience, Muth will oversee portfolio management and asset management functions for Madison Marquette. He will be based in the San Francisco office.

It's the end of an era for Safeway and Albertsons, as the companies announced they have completed their merger, ending a nearly year-long process that began in 2014.

AB Acquisition LLC, the owner of Albertson's and New Albertson's, Inc., will acquire all outstanding shares of Safeway. The merger will create a diversified network that includes 2,230 stores, 27 distribution facilities and 19 manufacturing plants with more than 250,000 employees across 34 states and the District of Columbia.

New York -- Ebay Inc.  plans to cut about 2,400 positions, or 7% of its workforce, across eBay marketplaces, PayPal, and eBay enterprise in the current quarter to simplify its organizational structure.

The company also said it will explore strategic options for eBay enterprise, including a sale or an IPO.

Goleta, Calif. - Deckers Brands has appointed David E. Lafitte to COO, effective Feb. 2. Lafitte previously served as the company's general counsel.

He replaces Zohar Ziv, who retired from the company on Jan. 16, 2015.

Lafitte has served as general counsel of Deckers since January 2012 and also was a shareholder in the law firm, Stradling, Yocca, Carlson & Rauth, P.C. where he was a member of the firm's board of directors and executive committee.

New York -- Whole Foods Market plans to open six new locations in Chicago, four of which will open in May, according to Crain’s Chicago Business.

The new stores will be located in former Dominick’s locations.

“We took the time to design and build a brand new store for each community that would offer not just a full-service grocery, but also a place to meet friends and share each other’s company,” said Michael Bashaw, president of Whole Foods Market’s Midwest Region, in a statement.

Seattle -- Nordstrom announced three new upcoming locations for Nordstrom Rack.

The company will open a 36,000-sq.-ft. store at Wayne Towne Center in Wayne, New Jersey, in fall 2015. This will be the sixth Nordstrom Rack in New Jersey.

In fall 2016, Nordstrom Rack will open a 35,540-sq.-ft. store at Hamilton Crossing in Allentown, Pennsylvania. The property is owned and being developed by The Goldenberg Group.
 

Ebay Inc. said it plans to cut about 2,400 positions, or 7% of its workforce, across eBay marketplaces, PayPal, and eBay enterprise in the current quarter to simplify its organizational structure.

The company also said it will explore strategic options for eBay enterprise, including a sale or an IPO.

New York -- Barnes & Noble announced that Mitchell Klipper, CEO of the retail group, will retire at the end of the fiscal year, ending May 2, but will remain with the company in the role of special advisor on real estate and other matters. Klipper, a 28-year veteran of the chain, previously served as the retailer’s COO and CFO before being appointed chief executive.

The retailer said it has begun a search to fill Klipper’s position and that he will help with the selection of the new retail CEO and in the transition process.