FINANCE

Two Hispanic supermarket chains are merging with an eye to extending their footprint beyond their home base.    Private equity firm KKR announced it is combining Cardenas Markets and Mi Pueblo, which KKR (and Victory Park Capital) acquired at the end of last year. The combined business will operate as Cardenas Markets LLC and will become one of the largest Hispanic supermarket chains in the country.   

The Home Depot had acquired a company that will it enable it to expand its tool and equipment rental offerings to both professional and do-it-yourself customers.   After years of working with Compact Power Equipment, The Home Depot announced a deal to acquire the equipment rental and maintenance services company for $265 million in cash. The transaction is expected to close by the end of the company's fiscal second quarter.  

Victoria's Secret is casting a shadow on parent company L Brands.   L Brands said that net sales fell 6% to $1.21 billion for the five weeks ending period ending July 2. Total same-store sales fell 9%, worse than expected, dragged down by a 17% decline at Victoria's Secret. On the positive side, same-store sales rose 8% at Bath & Body Works.  

In a deal that will bring together two longtime home shopping rivals, QVC is acquiring the Home Shopping Network.    Liberty Interactive Corp., owner of QVC, currently owns 38.2% of HSN parent HSNi. Under the agreement announced Thursday, Liberty will acquire the remaining 61.8% stake, making HSNi a wholly-owned subsidiary. The all-stock transaction has an enterprise value of $2.6 billion.   

The nation's largest wholesale club operator reported strong sales for the month of June, both domestically and globally.   Costco Wholesale Corp. posted net sales of $12.17 billion for the five weeks ended July 2, 2017, up 5% from $11.33 billion during the year-ago period. Total same-store sales were up 6%.   In the U.S., same-store sales rose 6.5% in June. International same-store sales increased 6.2%. Canadian same-store sales rose 3.2%.   

Premium denim brand True Religion Apparel Inc. has struck a deal to erase $350 million of its debt.    The company announced Wednesday that it has filed for Chapter 11 bankruptcy protection and signed a restructuring agreement with the majority of its lenders, including private equity owner TowerBrook Capital Partners. It listed assets and liabilities in the range of $100 million to $500 million.  

West Marine Inc. is going private.   The retailer of boating gear, apparel and other waterlife-related products has agreed to be acquired by New York-based Monomoy Capital Partners for $12.97 per share. The deal has a total equity value of $338 million.  Following the close of the deal, West Marine will continue to be operated independently by the company's management team.  

Sycamore Partners has a plan for its newest retail acquisition, Staples.   The private equity firm, which purchased the office supply giant for $6.9 billion on Wednesday, plans to divide the chain into three separately financed units: U.S. retail; Canadian retail; and corporate-supply businesses, reported The Wall Street Journal reported. The three units will all remain under the same corporate umbrella.