Mergers & Acquisitions

Dallas – Independent agency network Project: Worldwide intends to acquire Mercury 11, a social media and marketing technology agency with retail and shopper marketing focus. The agency will be integrated with Project’s shopper marketing engagement agency Shoptology.

San Jose, Calif. — Togo’s Eateries has announced two multi-unit franchise agreements to develop 20 new restaurants in Oregon and California over the next several years.

Togo’s Franchisee Mark Fischer will open 10 restaurants in Portland, Ore., and 10 additional locations in Los Angeles County. The first will open in Portland in the first quarter of 2014.

Fischer and his parterns currently own and operate two California restaurants in Stockton and Tracy, Calif.

Houston — Transwestern’s Houston headquarters today announced that it is acquiring Richards Barry Joyce & Partners, a full-service real estate firm based in Boston. It will become Transwestern’s 34th U.S. office.

Dayton, Ohio -- Retail design and brand strategy firm Interbrand Design Forum, the retail division of Interbrand, said it has hired Dirk Defenbaugh as managing director.

The Pep Boys are remaining cautiously optimistic that there will be an increase in demand for tires this year, following a comparable store sales decrease of 1.3% for the second quarter ended Aug. 3. 

Sales for the quarter increased 0.4% to $527.6 million from $525.7 million for the prior-year quarter. The company’s operating profit for the quarter, adjusted to exclude merger-related costs, was $19.4 million as compared to $15.5 million for the second quarter of fiscal 2012. 

Plano, Texas – Coffee press manufacturer Bodum Group is reportedly suing J.C. Penney Co. for breach of contract. According to Reuters, Bodum filed a lawsuit in the New York State Supreme Court on Aug. 30 alleging the retailer did not live up to an agreement to build an agreed number of in-store Bodum specialty boutiques by March 2013.

Memphis, Tenn. — Perkins Restaurant & Bakery has announced a six-unit franchise development agreement in Iowa and Nebraska over the next six years. The franchisee, CyHawk Hospitality Inc., currently operates six Perkins Restaurants and Bakeries — five in Iowa and another in Independence, Mo.

The first of the six new units opened in July in Ankeny, Iowa. Another location in Norfolk, Neb., has broken ground with an anticipated opening later this month.

Los Angeles — PCG Woodland Hills Topanga LLC, an affiliate of Paragon Commercial Group, has acquired the Woodland Hills Shopping Center located in the Warner Center master planned community in the San Fernando Valley. Paragon Commercial Group acquires, develops and manages high quality, value add retail investments. The seller was Woodland Hills Retail.

The 112,649-sq.-ft. center was 100% leased at the time of the sale. Anchor tenants include Toys “R” Us, Office Depot and Off Broadway Shoes.