Mergers & Acquisitions

Woodland Hills, Calif. — E-commerce and smartphones are re-shaping brick-and-mortar shopping center industry. In recognition of that trend, NewMark Merrill Cos. has launched BrightStreet Ventures, a technology affiliate focused on developing new technology platforms.

The Hillshire Brands Company has completed its acquisition of Van’s Natural Foods from Catterton Partners. Van’s is a leading better-for-you food brand with multiple product lines in frozen breakfast and snack foods.

Fort Worth, Texas — Rice Management Co. has selected Trademark Property Co. to oversee asset and property management, leasing and repositioning of the village Arcade in the historic Rice Village district of Houston, Texas.

The selection comes after Rice University exercised an option to acquire the leasehold interest in the two-level 195,000-sq.-ft. open-air retail center from the current owner, Weingarten. Closing is set for the third quarter of this year.

Dallas – A previously undisclosed conflict of interest may endanger the proposed $1.4 billion purchase of jewelry retailer Zale Corp. by rival Signet Jewelers. According to the New York Times, Bank of America, which represented Zale in talks with Signet, failed to disclose it had made an unsolicited presentation to Signet in October 2013 where it advised Signet to consider purchasing Zale.

Dallas -- Zale Corp. on Thursday restated its support for Signet Jewelers Ltd.'s $1 billion acquisition offer, urging shareholders to support the deal despite opposition from a large investor. The deal, under which Zale stockholders would receive $21.00 per share in cash, has been unanimously approved by the Zale board of directors.

Zale’s investor TIG Advisors LLC has called the deal "grossly unfair," saying the jewelry retailers should be able to get $28.60 a share in cash and stock.  

Dallas – DGSE Companies Inc. swung to a net loss of $523,000 from a net profit of $300,000 in first quarter 2014. The retailer cited significant decreases in both bullion and scrap sales resulting from a drop in gold prices as affecting its performance, which included a 32% drop in revenue to $19.9 million from $29.2 million.

DSGE has closed 23 stores since February 2014 and expects $3.7 million in non-recurring charges in 2014 as part of discontinued operations.

Winston-Salem, N.C. – Krispy Kreme Doughnuts Inc. has named Anthony N. (“Tony”) Thompson, 47, as president and CEO, effective June 1. Thompson joins the company from Papa John’s International Inc., where he most recently served as president and COO.

Covington, La. — Stirling Properties has acquired John Toomey & Co., a commercial real estate company based in Mobile, Alabama. Stirling will add Toomey’s 1.8-million-sq.-ft. portfolio to its own, bringing the total to 15.5 million sq. ft.

John Toomey and his team will join Stirling Properties, with Toomey serving as broker/new business development coordinator for the Mobile area.