Home Improvement

Indianapolis – Hhgregg Inc. has hired Robert J. Riesbeck as CFO, effective Sept. 15. Riesbeck brings more than 25 years of experience in financial and operations management, most recently serving as Operations Executive/Group CFO at Sun Capital Partners, where he was responsible for financial and operations oversight of a group of portfolio companies with combined revenues exceeding $5 billion.

Electrolux has entered into an agreement to acquire the appliances business of General Electric, one of the leading manufacturers of kitchen and laundry products in the United States, for a cash consideration of $3.3 billion.

New York -- Twitter announced on Monday that it has started testing a “buy” button embedded in posts that allow users to buy a product with a couple of clicks. The test comes at a time when competition in mobile e-commerce is growing. Facebook has been testing a “buy” button on its platform since July, and Apple is expected to debut a phone-based payment system on Tuesday as part of the newest version of its iPhone.

Redlands, Calif. -- Majestic Realty Retail announced today that it has signed lease agreements with four new retailers at its Mountain Grove at Citrus Plaza retail and entertainment center, including agreements with The Gap (7,500 sq. ft.), Banana Republic (7,500 sq. ft.), Old Navy (15,000 sq. ft.) and Ulta (10,000 sq. ft.).  An additional 100,000 sq. ft. of national and regional tenant leases are under negotiation and expected to be signed in September.

Mooresville, N.C. - Lowe's Companies Inc. has agreed to sell $450 million of floating rate notes due 2019, $450 million of 3.125% notes due 2024 and $350 million of 4.250% notes due 2044. Estimated net proceeds from this offering will be approximately $1.24 billion, after deducting offering expenses and underwriters' discounts.

Dallas -- CBRE’s National Retail Investment Group announced the sale of Centennial Plaza, a 233,797-sq.-ft. power center in Oklahoma City, on behalf of Kimco Realty Corp., to American Realty Capital-Retail Centers of America.

Centennial Plaza, at 100% occupancy, is tenanted by Home Depot, Best Buy, Gordmans and Guitar Center. Home Depot’s Centennial Plaza location is the retailer’s first and only urban location in the city.
 

Houston -- In a deal that will create a national specialty bedding retail powerhouse, Mattress Firm Holding Corp. has agreed to acquire rival The Sleep Train Inc. for about  $425 million. As part of the deal, Mattress Firm said that it will also assume certain additional liabilities totaling about $15 million.

Sleep Train operates approximately 310 specialty mattress stores, primarily in California, Oregon, and other Western states. It reported net sales of $471 million for the 2013 fiscal year.