News

Ace Hardware has always been known for its “helpful hardware folks” motto, but now the company is taking its customer service knowledge global.

Belk Inc. has hired Goldman Sachs to explore its strategic options, including the possibility of a sale that could value the family owned department store chain at as much as $4 billion, Reuters reports.

In response to the Reuters report, Belk issued a response saying that it had hired Goldman Sachs to help it explore all options for its future. Belk added that it expects to conclude its analysis in the next several months.

Belk operates about 300 stores in 16 Southern states.

New York -- Belk Inc., the largest family owned and operated department store chain in the United States, is exploring strategic alternatives. The news was first reported by Reuters on Thursday, and was confirmed later in the day by the retailer in a statement issued to media outlets.
 

Springfield, Mo. – Los Angeles-based private equity group Leonard Green & Partners is reportedly in talks to acquire a stake in specialty outdoor retailer Bass Pro Shops. According to the Wall Street Journal, Leonard Green may make an offer that would value the privately-held Bass Pro at between $4 billion and $5 billion, including debt.

New York -- Investment firm TowerBrook Capital Partners is acquiring women’s apparel retailer J. Jill, which operates some 250 stores nationwide. TowerBrook is buying the company from Investment firm Arcapita and private equity firm Golden Gate Capital.  

In a statement, J. Jill CEO Paula Bennett noted that the retailer has just completed its best sales year in history and 12 quarters of consecutive growth.

Hingham, Mass. – Talbots Inc. has signed an extension to a long-term agreement to continue receiving private label credit card services from Alliance Data Systems Corp. Talbots operates nearly 500 stores throughout the U.S. and Canada.

Fast casual chain Forever 21 has added men’s, girls and plus collections to 50 more stores as part of its global expansion plan.

Forever 21+, Forever 21 Men and Forever 21 Girls will now be added to 50 existing U.S. stores in markets such as Chicago, Los Angeles, Miami, Nashville, New Orleans, Orlando, Philadelphia, Pittsburgh, Seattle, Stamford, Conn., and more.

Boston - Gordon Brothers Group’s Valuation & Advisory Services Division and AccuVal-LiquiTec have entered into a merger to form Gordon Brothers-AccuVal.  The new group will operate as a wholly owned subsidiary of Gordon Brothers Group.