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Mergers & Acquisitions

  • Rouses Markets to expand into Alabama; will remodel six acquired stores

    Thibodaux, La. -- Southern grocery store operator Rouses Markets will take ownership of six former Belle Foods stores in Alabama from Associated Wholesale Grocers (AWG), a retail-owner cooperative of which Rouses Markets is a member. AWG and its group of grocers and operators submitted the winning bid last week at the Belle Foods bankruptcy auction in Birmingham.

    This is Rouses Markets' first expansion into Alabama. The company currently operates 38 stores in Louisiana and Mississippi. Three new stores in Louisiana were also recently announced.

  • Report: Home Depot expands Redbeacon service

    Atlanta – The Home Depot, Inc. reportedly expanding the national rollout of Redbeacon, its online handyman referral service. According to Bloomberg, Home Depot is making Redbeacon, which connects customers online to home repair professionals, in Oregon, Washington, Idaho, Utah, Montana, and Alaska.

    Home Depot now offers Redbeacon in 11 states and plans to roll out the service in additional states during the next two years. The retailer acquired Redbeacon, which was founded by three former Home Depot employees, in 2012.

     

  • J.C. Penney looking to raise some $800 million from offering

    Plano, Texas – Shares of J.C. Penney Company took a beating on Friday after the retailer priced its $932 million share sale at a 7.4% discount and detailed its shrinking cash position.  

    Penney priced its sale of 84 million shares at $9.65, down from a closing price of $10.42 on Thursday.

    The new offering should raise more than $800 million. According to Reuters, J.C. Penney, which is valued at $2.6 billion, had been considering issuing new stock shares as well as other unspecified alternatives.

  • MinuteClinic enters Hawaii

    Woonsocket, R.I. -- MinuteClinic, a division of CVS Caremark Corporation, will open today its first walk-in medical clinic in Hawaii at the Longs Drug store on South King Street in Honolulu near the University of Hawaii, Manoa. It is the first of seven MinuteClinic locations to open inside select Longs Drug stores on Oahu in the next two weeks.

    Additional clinics will serve patients in Aiea, Hawaii Kai, Kailua, Kaneohe, Kapolei and Waialae.

  • Tractor Supply Company will open first Nevada store

    Brentwood, Tenn. — Tractor Supply Company has announced the opening of its first store in Nevada — in Carson City. The move is part of the company’s expansion strategy into the western region of the country. Tractor supply plans to open 100 to 105 stores in 2013.

    The company currently operates more than 1,223 stores in 47 states and plans to grow to 2,100 stores.

     

  • Report: KKR withdraws from Jones Group bidding

    New York – Private equity firm KKR & Co. LP has reportedly dropped out of the auction for Jones Group Inc. According to Reuters, KKR, in partnership with private equity group Sycamore Partners LLP, was the only entity trying to buy the entire Jones Group company.

    Bidding continues on parts of Jones Group and the company is soliciting new bids. It is not clear whether Sycamore Group will continue to bid on part or all of Jones Group and KKR, Sycamore Group and Jones Group did not comment in the article.

     

  • SGK appoints managing director of brand development

    SGK, formerly marketed as Schawk, Inc., a leading global brand development, activation and deployment company, has appointed Scott Lucas to the new position of managing director, brand development to oversee its Brandimage and Anthem operations in Cincinnati.

  • Red Robin swoops into Hagerstown, Md.

    Greenwood Village, Colo. — Red Robin will open a new restaurant in Hagerstown, Md., in late October.

    The new restaurant will add to the chains 480 U.S. restaurants located across the U.S. and Canada.

     

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