Mergers & Acquisitions

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.

Foothill Ranch, Calif. -- The Wet Seal announced it would 338 stores, or about 66% of its total portfolio, “on or about” Jan. 7, resulting in the termination of some 3,695 full and part-time employees. The struggling teen apparel retailer said the decision to close the stores was based on its overall financial condition and an inability to negotiate meaningful concessions from its landlords.   

Minneapolis -- Supervalu Inc.’s third-quarter profit more than doubled as the supermarket chain experienced sales growth in all three of its business segments. Its results beat analysts' expectations.

Supervalu reported an overall profit of $79 million for the quarter ended Nov. 29, up from $31 million a year earlier. Revenue rose 4.8% to $4.2 billion.

New York -- In a deal that will greatly expand its luxury reach, Coach Inc. will acquire upscale footwear brand Stuart Weitzman Holdings from private equity firm Sycamore Partners. Coach will make initial cash payments of approximately $530 million to Sycamore Partners, and, in addition, will pay the firm up to another to $44 million in contingent payments upon hitting “selected revenue targets” over the next three years.

Leonard Lieberman, former chairman and CEO of Supermarkets General, which owns Pathmark, died at his home in Hoboken, N.J., on Jan. 2, according to an obituary on NJ.com. He was 85.

According to the obituary, his wife, Arlene, said the cause of death was heart failure.

New York -- Leonard Lieberman, former chairman and CEO of Supermarkets General, which owns Pathmark, died at his home in Hoboken, N.J., on Jan. 2, according to an obituary on NJ.com. He was 85. The cause of death was heart failure.

It didn't take long for former Walmart de Mexico executive Scot Rank to land a new job.

Mexican dairy company Grupo Lala has appointed Rank, the former chief executive officer of Walmart de Mexico, as its new chief executive to replace retiring top boss Arquimedes Celis, the company said.

Celis, who served as CEO for 14 years, will retire on June 30 but continue as a board member at the company, one of Latin America's largest dairy producers.

New York -- The specialty apparel and home goods chain C. Wonder is shuttering its remaining stores, according to Buzzfeed. The company, founded in 2011 by Christopher Burch, ex-husband of Tory Burch, quietly closed a number of its 32 stores in November. It is now closing its remaining locations, 11 in total, the report said.