Mergers & Acquisitions

In its PizzaRev case study series, CSA Online offers an insider’s look at the conception, initial rollout and growth of the southern Calif.-based fast-casual concept PizzaRev. Likened to “the Chipotle of pizza,” this innovative chain lets customers choose from an artisanal array of toppings to craft their own pizzas very quickly in a high-end stone hearth oven.

Bentonville, Ark. – Wal-Mart Stores has reportedly registered a new company called “Wal-Mart India Private Ltd.” in India, setting the stage for entering the Indian grocery market with a new local partner. According to the Free Press Journal, an Indian publication, Wal-Mart registered the company on Jan. 15, 2014 with the Indian Ministry of Corporate Affairs.

New York -- Mexico's Grupo Gigante expects to raise up to 4.954 billion pesos ($374.14 million) in its initial public offering of Office Depot de Mexico shares, Reuters reported.

The company plans to sell up to 291 million shares, local filings revealed.

The listing is provisionally set to price on Feb. 5, the report said.

In June, Grupo Gigante, acquired the 50% stake in the office supplies chain that it did not already own.
 

Warren, Mich. — Art Van Furniture has announced a seventh Chicagoland location in Downers Grove. For the new store, slated to open in January of 2015, the retailer plans to renovate a two story 106,000-sq.-ft. former Home Depot Expo Center on Butterfield Road off of Interstate 88.

Art Van Furniture will open its sixth Chicagoland location in Woodridge-Bolingbrook in April. Last year, the retailer rolled out five new stores in the region — in Logan Square, Bedford Park, Orland Park, Batavia and Merrillville.

Tucson, Ariz. — Lee & Associates Arizona has negotiated the $24.8 million sale of the River Center, a 117,563-sq.-ft. shopping center anchored by Whole Foods and Petco. Located on East River Road in the Catalina Foothills of northeastern Tucson, the center posted a cap rate of 5.5%.

Lee & Associates Arizona represented the buyer, Global Retail Investors LLC, a subsidiary of First Washington Realty of Bethesda, Md., and the seller, River Center Canada.

River Center was constructed in 1986 and remodeled in 1997 and 2013.

Hampstead, Md. – The board of directors of Jos. A. Bank Clothiers, Inc. has officially rejected an unsolicited buyout offer from The Men’s Wearhouse. The offer, which expires March 28, 2014, is worth $57.50 per share, or about $1.6 billion.

Jos. A. Bank called the offer “inadequate and opportunistic” in announcing its rejection.

New York --- Brookshire Brothers, based in Lufkin, Texas, has entered into an agreement to David's Supermarkets, a 25-store chain based in North Central Texas. Terms were not disclosed.

"We feel like these family-owned stores align with our core value that we are a celebration of family and community," stated Jerry Johnson, president and CEO of Brookshire Brothers. 

Brookshire Brothers operates 123 outlets including grocery stores, convenience stores, free standing pharmacy, tobacco and petro locations.

Altoona, Pa. — Sheetz Convenience Restaurants has opened two new locations in North Carolina. One is a 6,400-sq.-ft. store in Goldsboro, featuring a drive-through window, inside seating and a large shopping area. It will be the 59th Sheetz in the state.

The second store will open in Elkin, bringing the total number of North Carolina stores to 60.