Mergers & Acquisitions

Plano, Texas – J.C. Penney has filed an appeal of a June 16 ruling by the New York State Supreme Court that it "tortuously" interfered with Macy’s 2006 contract with Martha Stewart Living Omnimedia when Penney entered into its own contract with Martha Stewart in 2011. In the ruling, Justice Jeffrey K. Oing said Macy’s failed to prove that it is entitled to punitive damages.

Austin, Texas -- Magento, an eBay Enterprise company, has named Bigcommerce, a commerce platform for successful and emerging merchants, as its preferred migration provider for ProStores and Magento Go when the two products are discontinued on February 1, 2015.

Bigcommerce and Magento are committed to the future success of ProStores and Magento Go retailers. Magento is offering migration options that best suit the needs of each client, including migration to its Community and Enterprise Editions, and special migration offers to Bigcommerce.

As a result of its definitive agreement to acquire CytoSport Holdings, maker of Muscle Milk products, Hormel Foods has promoted three of its executives to leadership roles with CytoSport, based in Benicia, California.

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.

Former Best Buy and Advance Auto Part executives are the newest members of the senior leadership team at the 2,216-store Bridgestone Retail Operations group where chairman and president Stu Crum wants to do the unthinkable.
 
Crum wants to eliminate the smell of rubber from the company’s stores and see the Firestone name mentioned alongside companies such as Nordstrom and Starbucks during conversations about retailers who provide a great customer service experience.
 

Chain Store Age recently spoke with Alison Paul, vice chairman, Deloitte LLP and retail and distribution leader, about the expanding role of the CFO in retail organizations:

How has the role of the CFO in retail organizations changed?

Hamilton, Bermuda -- Signet Jewelers Ltd. on Tuesday announced that Theo Killion, CEO and president of its newly acquired Zale division, has resigned, effective July 31.

Killion had been tapped to lead Zale as a separate division within the company, Signet said when the deal closed in late May. George Murray, Signet's current chief integration management officer, has been promoted to president of the Zale division and will succeed Killion upon his departure.