Mergers & Acquisitions

New York -- Fairway Group Holdings Corp. has named Jack Murphy, a veteran retail executive with strong experience in specialty food retailing, as CEO.

Murphy was a co-founder of natural foods grocer Fresh Fields, which was sold to Whole Foods Market. Most recently he served as CEO of Earth Fare, an organics and natural food chain with locations in the Southeast and Midwest.

Hoffman Estates, Ill. – A $400 million loan Eddie Lampert, the CEO and largest shareholder of Sears Holdings Corp., is making to Sears this month reportedly is only enough to last the struggling retailer for three months. According to Bloomberg, global ratings agency Fitch Ratings is projecting that Sears will need $4 billion in capital to avoid running out of cash altogether in 2016.

The merger between Albertsons and Safeway is expected to close in a few months and when it does the combined company already has a new senior leadership and field operations structure in place.

The companies late Friday announced key leadership positions it said drew on strong talent within both organizations to build an innovative, customer-focused and growth-driven company.

Houston -- JLL announced it has expanded its retail tenant representation capabilities in Houston with the addition of Matt Parsons. In his new role, Parsons will be responsible for identifying and securing new space for expanding retailers in the market, and will partner with Mark Raines, who joined JLL in July to lead the firm’s Houston retail brokerage practice.



Boise, Idaho - Albertsons and Safeway Inc. announced the new senior leadership team and division leaders  for the combined company that will take effect upon the closing of their proposed merger. The deal is expected to close in a few months.

Safeway president and CEO Robert Edwards will serve as CEO of the combined company and current Albertsons CEO Bob Miller will become executive chairman.

R.J. Reynolds Tobacco Company has appointed Debra A. Crew president and chief commercial officer, effective Oct. 1. Crew is currently the president and general manager of PepsiCo North America Nutrition.

Brown Shoe Company has invested in Jack Erwin, a men’s brand that offers high-quality, handmade men’s shoes directly to consumers.

“We looked at several companies and Jack Erwin really stood out to us as a great incubator brand with high growth potential and an interesting, new business model,” said Diane Sullivan, CEO, president and chairman of Brown Shoe Company. “Lane and Ariel, the founders, have an unwavering commitment to quality and detail and represent the next generation of business in our industry.”

Chicago -- Urban Retail Properties, LLC, announced the acquisition of Oakland Square and Oakland Plaza in Troy, Michigan, by its parent company RAIT Financial Trust. Purchase price was $50.8 million.

Both properties are adjacent to Oakland Mall, a 1.5-million-sq.-ft. super-regional center that Urban Retail currently manages.