Deals

Phoenix -- Private equity firm Apollo Management will acquire majority ownership in Phoenix-based Sprouts Farmers Market. Apollo plans to combine Sprouts operations with another of its holdings, Henry's Farmers Market, based in Irvine, Calif. The combined company will operate under the Sprouts Farmers Market name.

Terms of the deal, expected to close in the second quarter of this year, were not disclosed. The combined grocers will have 98 stores and generate annual sales that exceed $1 billion.

New York City -- J. Crew Group said Wednesday that it did not receive any alternative takeover bids during an 85-day "go shop" period, in which the company sought alternatives to an offer from its former owner.

J. Crew agreed in November to be taken private in a $3 billion deal with two investment firms, TPG Capital and Leonard Green & Partners. It originally had until Jan. 15 to vet other prospects, and that period was extended by a month.

Borders Group on Thursday won bankruptcy court approval to liquidate approximately 200 stores in a deal that may bring in $175 million to creditors. The sales will begin Feb. 19, allowing Borders to take advantage of the President’s Day holiday, typically a major shopping weekend.

Hilco Merchant Resources LLC, SB Capital Group, Tiger Capital Group LLC and Gordon Brothers Group won the bidding to handle the liquidation sales, according to Bloomberg.

Columbus, Ohio -- Casto announced that Menards has purchased 20 acres of land at Columbus Corporate Center, on the east side of Columbus, Ohio.

According to Menards, construction on its 160,000-sq.-ft. store will commence later this spring. This will be the second Menards location in Columbus. The first location, situated at Northland is scheduled to open this spring.

Middletown, N.J. -- Fameco Real Estate, L.P. said that Bone Fish Grill and Hand & Stone Massage have signed leases at the Chapel Hill Shopping Center, in Middletown, N.J.

Chapel Hill Shopping Center is a 64,507-sq.-ft. community shopping that was renovated four years ago and is anchored by a 45,000-sq.-ft. Whole Foods supermarket.

Bone Fish leased a 5,400-sq.-ft. endcap position. The restaurant is expected to open in September. Hand & Stone leased 3,600 sq. ft. of in-line space. The retailer is expected to open in April.

Beachwood, Ohio -- The Developers Diversified Realty Corp. board of directors announced the company and Scott A. Wolstein have agreed he will step down from the role of executive chairman of the board of directors.

Santa Monica, Calif. -- Real estate broker Scott P. Lifschultz announced he has formed SPL Realty Partners, a retail real estate brokerage and consulting company.

Current clients include CVS/pharmacy, Dean & Deluca, LandMark Retail Group, Johnny Was, Casual Male Retail Group and Destination XL. Based in Santa Monica, Calif., the company’s services include tenant representation, strategic planning, site selection, transaction management, owner representation, leasing & marketing, consulting and investment sales.

New York City -- Family Dollar Stores received a buyout offer on Tuesday from a New York hedge fund at $55 to $60 per share, a 36% premium over yesterday’s closing price. The offer, which values the company at up to $7.6 billion, was made by Trian Group, which is headed by activist investor Nelson Peltz.

Trian Group has been accumulating shares of the discount retailer in recent months, and Peltz has met with management to discuss ways to boost its performance.