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Mergers & Acquisitions

  • Wayfair raises $157 million in Series B financing

    Boston – Wayfair has raised $157 million in equity financing to fuel continued growth of the company's portfolio of home brands. The Series B investment round, led by funds and accounts managed by T. Rowe Price Associates Inc., encompassed a limited number of key investors, including growth-focused mutual funds, as well as a private investment from Julie M.B. Bradley, TripAdvisor CFO and Wayfair board member.

  • Supervalu makes changes to board following Albertsons/Safeway deal

    Supervalu directors Mark Neporent and Lenard Tessler have stepped down from the company’s board of directors as a result of Cerberus-owned Albertsons’ deal to acquire Safeway.

    Neporent and Tessler were both appointed to the Supervalu board in 2013 as designees of Symphony Investors, a Cerberus Capital Management L.P.-led investor consortium. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock, and has the right to designate replacement directors for Neporent and Tessler.

  • Board changes at Supervalu in wake of acquisition

    New York -- Supervalu directors Mark Neporent and Lenard Tessler have stepped down from the company’s board of directors as a result of Cerberus-owned Albertsons’ deal to acquire Safeway.

    Neporent and Tessler were both appointed to the Supervalu board in 2013 as designees of Symphony Investors, a Cerberus Capital Management L.P.-led investor consortium. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock, and has the right to designate replacement directors for Neporent and Tessler.

  • Coupons.com prices IPO

    Coupons.com has gone public. The digital promotional platform has priced its initial public offering of 10,500,000 shares of common stock at $16 per share, which is above the reported expected range of $12 to $14.

    Coupons.com has also granted the underwriters an option to purchase up to an additional 1,575,000 shares. Shares are expected to begin trading on the New York Stock Exchange today under ticker symbol "COUP."

    Goldman, Sachs & Co., Allen & Company LLC, BofA Merrill Lynch and RBC Capital Markets LLC are acting as bookrunners.

  • Albertsons to acquire Safeway in $9.1 billion deal

    Pleasanton, Calif. — Cerberus Capital Managament, which owns Albertsons, won the bid for Safeway.

    Safeway and Albertsons on Thursday announced a definitive agreement under which AB Acquisition will acquire all outstanding shares of Safeway in a deal valued at more than $9.1 billion. The transaction is expected to close in the fourth quarter of this year.

    The companies will operate independently until closing.

  • Jarden Corporation adds Barclays exec to board

    Jarden Corporation has appointed Ros L'Esperance to its board of directors, bringing the total number of members to 10, seven of whom are independent directors.

  • RMC acquires a Palm Harbor, Fla., shopping center

    Tampa, Fla. — RMC Property Group has acquired a 60,000-sq.-ft. shopping center in Palm Harbor, Fla., for $6.75 million, or $112 per square foot. It is located at the intersection of U.S. Highway 19 and Nebraska Avenue.

    Anchor retailer Office Depot leases 100% of the center, which was built in 1997.

  • Stage Stores Q4 profit down 30%; selling Steele’s division

    Houston – Stage Stores' fiscal fourth-quarter net income plunged 30%, stung by a charge tied to the sale of its Steele's off-price division and softer revenue. Its adjusted earnings, however, topped analysts' estimates.

    Stage Stores announced that it is selling its off-price retail division Steele's to Hilco Global Retail Group in an equity deal.

    For the quarter ended Feb. 1, Stage Stores earned $24.9 million, down from $35.8 million in the year-ago period.  

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