Mergers & Acquisitions

Aliso Viejo, Calif. – Johnny Rockets has opened its second restaurant in Galerias Merida, Mexico. The 1,798-sq.-ft. location is situated in an upscale two-story shopping mall.

Galerias Merida is the fourth Johnny Rockets location for Johnny Rockets Guadalajara Group, who also operate three franchises in the Mexican state of Jalisco. Two additional Johnny Rockets locations are scheduled to open in Mexico later this year, one in Chihuahua and another in Mexico City.  

Dallas — Cypress Equities has acquired Brookwood Village, a mixed-use development in the affluent Mountain Brook area of Birmingham, Ala.  A fund managed by Cypress’s real estate investment management group carried out the transaction.

The 816,000-sq.-ft. center consists of a 604,000-sq.-ft., two-level enclosed mall, a 41,900-sq.-ft. grocery-anchored retail component and a nine-story 170,000-sq.-ft. Class A office building.  

Online home goods retailer Tablesets.com said digital innovator Weihu Yan has made an investment in and joined the company as a strategic advisor.

Houston -- Mattress Firm Holding Corp. announced it has completed its acquisition of the outstanding partnership interests in Sleep Experts Partners.

With the acquisition, Mattress Firm expects to operate an additional 55 stores in the Dallas and Austin markets, two of Mattress Firm’s core markets.

Mattress Firm operates 1,400 stores across 33 states.

New York -- Liberty Media Corp. has entered into agreements to reduce its stake in Barnes & Noble. Liberty Media informed Barnes & Noble that while Liberty has sold the majority of its shares to qualified institutional buyers, it will retain approximately 10% of its initial $204 million investment, which could be converted to a 17% ownership stake.

Veteran retail operations executive Troy Rice has joined Office Depot as EVP of retail as the company continues to build out its senior leadership team in the wake of its merger with OfficeMax.

Rice spent the past eight years with Toys “R” Us, most recently serving as EVP fo stores and services. Prior that he spent 16 years with The Home Depot and served as president of the retailer’s $24 billion northern division at the time of his departure.

Los Angeles -- Guitar Center's total debt has been reduced by approximately $500 million and annual cash interest expense has been reduced by more than $70 million. The improved financial position of the company will enable Guitar Center's management team to further invest in its people, store base and brands to accelerate growth.

Former H.H. Gregg EVP and COO Gregg Throgmartin has been name CEO at upstart cycling retailer BikeStreet.

Throgmartin resigned from HH Gregg after a 13 year career which saw him rise to become EVP and COO of the 228 store consumer electronics retailer. He joins BikeStreet, a company founded in 2012, as it embarks on an ambitious strategy to growth from 17 stores to more than 1,000 stores during the next seven years.