Mergers & Acquisitions

GNC financial chief and EVP Michael M. Nuzzo is exiting the company to take an executive position at a private equity funded consumer products company.

Nuzzo will remain with the company at least through July 18, which will include preparation of its second quarter earnings release and 10Q, both of which are expected to be issued on the normal schedule in late July or early August.

Pittsburgh — Michael M. Nuzzo, executive VP and CFO of GNC Holdings Inc., is resigning in order to accept an executive position at an unspecified private equity-funded consumer products company. Nuzzo will remain with GNC at least through July 18, 2014, which will include preparation of its second quarter 2014 earnings release and 10Q.

Chicago, Ill. — Corner Bakery Café will open its first Wisconsin location later this year at The Mayfair Collection in Wauwatosa, Wis. The 4,000-sq.-ft. franchise location is near the center entrance at Burleigh Street and 114th Street.

Construction is slated to begin within the next few weeks. Neo Fourno Inc., the franchisee, plans to open 10 new cafes in Madison and Milwaukee over the next five years.

When it comes to powerful retail CEOs, the names Dave Dillon at Kroger, Frank Blake at Home Depot, Craig Jelinek at Costco and Doug McMillon at Walmart come to mind. But they’ve got nothing on Greg Penner.

Beachwood, Ohio — DDR Corp. and an affiliate of Blackstone Real Estate Partners VII have announced the formation of a third joint venture to acquire 76 shopping centers currently owned by American Realty Capital Properties, Inc.

The joint venture will acquire the portfolio in a transaction valued at $1.975 billion, including assumed debt of $461 million and approximately $800 million of new financings.  

Daniel Castle, former Iconix VP of international and business development, will be joining Saban Brands as the company’s managing director of strategic business development.

New York City — Restaurant chain Pret A Manger has leased a 2,577-sq.-ft. shop at 600 Lexington Avenue, a boutique 36-story office tower on East 52nd Street. The new location will bring the chains Manhattan locations to a total of 39.

RKF (www.rkf.com) represented Pret A Manger and the landlord, SL Green Realty Corp. in the transaction. Over the last two years, RKF has arranged a dozen new leases for the chain.

Newly separated from Sears Holdings, Lands' End reported respectable sales growth during a first quarter that saw it vow to become a global lifestyle brand.

Lands' End completed its separation from Sears on April 4 and for the quarter ended May 2 said its sales increased 3.6% to $330.5 million, driven by a 4.8% increase in the direct segment offset by a 2.3% decrease in the retail segment. Profits increased 48.1% to $10.9 million, or 34 cents a share, compared to $7.3 million, or 23 cents a year the prior year.