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Mergers & Acquisitions

  • Rite Aid appoints new SVP of brand development

    Rite Aid has appointed David Abelman a SVP of brand development and innovation. He will report to Ken Martindale, Rite Aid’s president and chief operating officer.

    Abelman will be responsible for overseeing the continued development of Rite Aid brand products as well as identifying and implementing new innovations to enhance and grow Rite Aid’s business.

  • Berkshire Partners forms partnership with former Urban Outfitters exec Glen Senk

    Boston -- Berkshire Partners LLC, the Boston-based investment firm, and Glen T. Senk, a New York-based retail and consumer executive, are partnering to co-invest in innovative, high-growth retail and consumer businesses. Berkshire Partners has initially committed $350 million to future investments alongside Senk and his newly formed firm, Front Row Partners LLC, where he serves as chairman and CEO.

  • Meijer selects U.S. Vision as exclusive vision center

    Grand Rapids, Mich. -- Meijer announced that it has selected U.S. Vision as its exclusive vision center in its stores moving forward in an effort to enhance its retail healthcare services across the Midwest.

    U.S. Vision, a separately owned and operated company based in Glendora, N.J., is currently a tenant in 50 Meijer stores in Michigan, Indiana, Illinois, and Ohio, and has plans to open 19 more vision centers in Meijer stores this year. All of its vision centers will be renamed "Meijer Optical" by the end of the month.

  • Jones Group approves merger with Sycamore

    New York -- The Jones Group Inc. announced that its shareholders overwhelmingly voted to approve the company’s acquisition by Sycamore Partners.

    Under the terms of the deal, Sycamore will acquire Jones for $15.00 per share in cash, or a total transaction value of approximately $2.2 billion.

  • Meijer sets sights on expanding vision centers

    Meijer has selected U.S. Vision as its exclusive vision center in its stores moving forward in an effort to enhance its retail healthcare services across the Midwest.

    U.S. Vision, a separately owned and operated company based in Glendora, N.J., is currently a tenant in 50 Meijer stores in Michigan, Indiana, Illinois and Ohio, and has plans to open 19 more vision centers in Meijer stores this year. All of its vision centers will be renamed "Meijer Optical" by the end of the month.

  • Rite Aid creates VP of brand development and innovation

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  • Sears completes Lands’ End spinoff

    Hoffman Estates, Ill. -- Sears Holdings Corporation completed its spin-off of Lands' End Inc. on April 4. The specialty apparel company has now been separated from Sears Holdings and its common stock is expected to begin regular-way trading on the Nasdaq Capital Market under the symbol "LE" on April 7.

  • Kinney Drug changes name

    Gouverneur, N.Y. -- Kinney Drug Inc. has decided to change its name to KPH Healthcare Services. The new name is designed to more accurately reflect the makeup of Kinney’s diverse range of pharmacy-related healthcare services, the company said.

    “We believe that the name change will afford each of our divisions the best opportunity to grow business within existing markets, as well as position them for expansion into new markets,” the company said in a statement sent to Drug Store News.

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