Mergers & Acquisitions

Canton, Mass. – Dunkin' Donuts has signed the largest development agreement in the company's history with the goal of expanding Dunkin' Donuts in China. The retailer plans to open more than 1,400 new stores across China in the next 20 years.

Yonkers, N.Y. -- Tom Rettaliata of Ripco Real Estate leased 13,840 sq. ft. to Darden Concepts in the Cross County Shopping Center located at 8000 Mall Walk in Yonkers, New York.

The area previously used for parking is now occupied by two freestanding restaurants: Olive Garden (7,448 sq. ft.) and Longhorn Steakhouse (6,392 sq. ft.). Olive Garden opened on October 27, 2014, and Longhorn Steakhouse opened on November 17, 2014.

The landlord, Brooks Shopping Center LLC, was represented by Guy Mercurio of Macerich.

Pittsburgh – Dick’s Sporting Goods Inc. is reportedly considering the step of taking itself private. According to Reuters, Dick’s is in the preliminary stages of conversations with several buyout firms.

However, there is currently no formal plan to sell the company and Dick’s may not ultimately move forward with the plan. In the third quarter of fiscal 2014, Dick’s reported a 9% increase in net sales but 2% drop in net income. The company declined to comment.

Miami Gardens, Fla. -- Palmetto Park, the owner of Palmetto Gardens Plaza, announced that its new anchor tenant Walmart Neighborhood Store has opened. The new store occupies 40,000 sq. ft. of the 63,000-sq.-ft. shopping center, located at 3799 NW 167th St. in Miami Gardens.

Palmetto Gardens Plaza will also feature T-Mobile, Cell Phone Repair, and Lee Nails, among other retailers, when construction on the remaining portion of the plaza is complete by the third quarter of this year.

Burnaby, Canada - Canadian financial cooperative Desjardins Group is acquiring both the Best Buy Canada and Future Shop private-label credit card portfolios from Best Buy Canada Ltd. Along with the two branded credit card portfolios, Desjardins will also be acquiring most outstanding loans and client accounts.

In addition, all Best Buy Canada and Future Shop stores nationwide will offer Desjardins' Accord D financing, a product to finance in-store purchases.

Matthews, N.C. – Higher sales of discounted, low-margin items did not necessarily add up to a happy holiday season for Family Dollar Stores Inc. The company missed Wall Street expectations for both net income and net sales during the first quarter of fiscal 2015, even as Dollar Tree and Family Dollar both continue making preparations for a multi-billion-dollar takeover this year.

Seattle --  A Seattle-based flash sales site may just be sputtering overseas, as a Forbes report on Thursday said that Zulily may shutter its United Kingdom operations, which currently serve as the concept’s first and only international office. According to Zulily CEO Darrell Cavens in a Forbes interview, changes in the apparel flash site’s international focus has led the company to consider its options.  

Chicago -- True Value Company announced the appointment of Lars Hybel to VP international, effective Jan. 12.

Hybel has a wealth of experience leading multinational and global teams, having worked for more than 15 years at Electrolux. Most recently, he was VP and general manager, global business unit, Electrolux Central Vacuum Systems, leading the transition of three regional operations to a global matrix organization, and successfully coordinating the first mass-channel entry in Canada, driving significant market share gain.