Mergers & Acquisitions

Minneapolis – Edward R. (Jack) Cameron, 74, is retiring as president and CEO of Appliance Recycling Centers of America Inc. (ARCA). Mark Eisenschenk, who has served as COO since July 2013, has been promoted to the position of president and CEO.

The Coca-Cola Company plans to acquire a 16.7% interest in Monster Beverage Corporation in an unconventional partnership arrangement involving brands, global distribution and $2.15 billion in cash.

The companies entered into a long-term strategic partnership designed to leverage their respective strengths — Coke’s worldwide bottling system and Monster’s expertise in the energy segment of the beverage category — to accelerate growth globally.

Orlando, Fla. - Darden Restaurants Inc. has retained global executive search firm Russell Reynolds Associates to assist the company with the recruitment of its next CEO. As previously announced, Clarence Otis is stepping down as chairman and CEO of Darden.  

To ensure a smooth transition, Charles A. Ledsinger Jr. has been appointed independent non-executive chairman of the board, and Mr. Otis has agreed to continue serving as CEO of Darden until the earlier of the appointment of his successor or Dec. 31, 2014.

Manhattan Associates continues to close the loop on its supply chain and omnichannel service offering with the recent acquisition of in-store mobile solutions provider GlobalBay Technologies from VeriFone.

McLean, Va. --  Rappaport has signed three new 7-Eleven deals in the Washington, D.C., area totaling 9,471 sq. ft. of retail space. 7-Eleven will open new locations inside The Shops of Avondale in Washington D.C., 2001 Clarendon Boulevard in Arlington, Virginia, and 6138 Kings Highway in Alexandria, Virginia.
     

Newell Rubbermaid’s EVP and CFO Doug Martin has resigned from the company effective August 31, to be EVP and CFO at Spectrum Brands, effective September 1.

Newell Rubbermaid has retained Spencer Stuart to help the company search for a new CFO. While that search is underway, John Stipancich, the company's EVP, general counsel, corporate secretary and EMEA leader, has been tapped as interim financial chief.

Loblaw has appointed Pavi Binning, George Weston Limited president, as a director on the company’s board.

Binning has been a director of George Weston Limited since 2012. He joined the company in 2010 as CFO after spending a year as a director of Loblaw Companies Limited. Prior to joining Weston, Binning was at Nortel Networks Corporation, where he held the role of CFO and subsequently chief restructuring officer. Prior to that, Binning held CFO positions at both Hanson plc and Marconi Corporation plc, as well as executive positions at Diageo plc.

Dallas – Net loss at specialty jewelry retailer DSGE Inc. roughly tripled to $4.45 million in the second quarter of fiscal 2014 from $1.12 million in the same period a year earlier. Writeoffs related to the closure of DSGE’s Southern Bullion banner drove the net loss increase.