Mergers & Acquisitions

Home Depot has agreed to buy the hardware business unit of HD Supply Holdings Inc., the industrial distributor that was once part of the home-improvement retailer and has since been a longtime partner.

"Our companies have had a long-standing relationship," said Craig Menear, CEO and presiden of Home Depot. "By formally bringing the business into the Home Depot family, we expect to further enhance our supply chain capabilities and hardware product offerings."

Atlanta - The Home Depot has reached an agreement to purchase HD Supply Hardware Solutions, formerly known as Crown Bolt, a wholesale hardware supplier. The transaction is expected to close by the end of fiscal year 2014 subject to obtaining customary regulatory approvals.

The Home Depot is HD Supply’s largest customer and accounts for about 98% of its annual sales. Terms of the deal were not disclosed.

Milwaukee - Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Point Loomis Shopping Center located in Milwaukee. Cincinnati-based Phillips Edison purchased the 160,533-sq.-ft. center.

Point Loomis Shopping Center is located at the southwest corner of 27th Street and Loomis Road in Milwaukee, and features Kohl’s, Pick ‘n Save, and Chase Bank.

Terms of the deal weren’t disclosed.

In an effort to bolster its online presence, Loehmann’s has appointed a digital retail expert to join its advisory board. Tony D'Annibale, president of Jessica's Brands, will work with the board and the management team during the Loehmann’s re-launch as an online retailer.

Philadelphia - Investors are feeling bullish on upcoming retail opportunities in Philadelphia, and it’s evident as JLL’s Capital Markets experts announced the sale of One and Olney Square on behalf of BLDG and The Feil Organization. Wharton Realty Group purchased the center.

Anchored by ShopRite, the community shopping center totals 339,784 sq. ft. and includes tenants such as Dollar Tree, Modell’s and Burger King.

Just a few weeks after taking over several regional bedding companies, Mattress Firm reported profits of $15.6 million or 45 cents per share, compared to $18.1 million or 53 cents per share for the year-ago quarter. Sales for the third quarter increased 42.3% to $464 million from $326 million a year ago, reflecting same-store sales growth of 8.5%.

Chicago - HSA Commercial Real Estate announced that the firm has executed a 22,454-sq.-ft. lease with HomeGoods for the second phase of The Mayfair Collection, which is now under construction in Wauwatosa (Milwaukee), Wisconsin. HomeGoods will occupy the northern end cap of a building to be anchored by a 45,150-sq.-ft. Whole Foods Market.  

Destination Maternity has appointed the managing partner of investment firm Voce Capital to the company's board of directors.

"As a long-term investor in Destination Maternity, we look forward to bringing additional shareholder perspective to the board and continuing to work constructively with the company to help enhance its value," J. Daniel Plants of Voce Capital said.