Mergers & Acquisitions

The nation’s largest pet specialty retailer could be in for a long summer now that activist investor Jana Partners is pressing for a review of strategic alternatives after acquiring a 9.9% stake in the company.

New York -- Activist investor Jana Partners LLC disclosed it has acquired a 9.9% stake in PetSmart, according to a regulatory filing, and plans to ask the retailer to explore various options, including a sale. Jana, $10 billion firm hedge firm run by Barry Rosenstein, has a reputation for pushing corporate managements to make changes.

Vancouver – Lululemon Athletica Inc. is reportedly considering going private. According to the Wall Street Journal, advisors to Chip Wilson, founder, director and former CEO and chairman of Lululemon, have been speaking with private equity firms including Leonard Green & Partners about possibly taking the retail chain private, although no specific deal is imminent.
   

New York -- Kroger is expanding into new markets and growing its presence in the e-commerce channel with its acquisition of Vitacost.com, a leading online retailer of vitamins and supplements. 

According to the definitive merger agreement, Kroger will purchase all outstanding shares of Vitacost.com for $8 per share in cash, or approximately $280 million.

Philadelphia – U.K. specialty maternity retailer Mothercare Plc has rejected two non-binding written merger proposals from Destination Maternity Corp. In a press release, Destination Maternity said its second proposal, delivered June 1 2014, would combine the two companies under a new U.K. holding company which would be listed in the U.S., for a total payment of $453 million to Mothercare shareholders.

NEW YORK — Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region. The joint venture purchased the property from Forest City Enterprises for $47,050,000, together with B&D Holdings, making it one of the largest single asset retail deals in the region during the past 24 months.

Tyson reached an agreement to acquire Hillshire Brands in deal valued at $8.55 billion that includes Tyson paying a $163 termination fee to Pinnacle Foods, a company Hillshire was in the process of acquiring.

Tyson said it will pay $63 a share for Hillshire in an all cash deal that makes the world’s largest protein producer an even more dominant player on the global food stage.