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Mergers & Acquisitions

It’s not easy to stay on top of the latest company realignments in the retail industry. It’s a volatile environment — across retailer segments as well as solution provider organizations. As soon as the announcements are made, Retail TouchPoints publishes an article covering the news, in this Mergers & Acquisitions section. Learn about the latest developments here.

Synchrony Financial Acquires GPShopper

Synchrony Financial, a consumer financial services company, has acquired mobile app developer GPShopper to expand its mobile engagement capabilities. Financial terms of the transaction were not disclosed.

Jet.com Set To Acquire ModCloth

Walmart has reeled in yet another e-Commerce brand as part of its recent buying spree: ModCloth. Jet.com — the first of Walmart’s recent major e-Commerce acquisitions — will acquire ModCloth for an undisclosed sum. Although the acquisition has not been confirmed by either Walmart or ModCloth, the brands will publicly announce the move on March 17, according to an initial report from Jezebel.

ShopKeep Swallows ChowBOT Online Food Order System

ShopKeep has acquired the online ordering software provider ChowBOT from Meerchant. The purchase will enable ordering, payment and delivery options for ShopKeep’s 8,500 QSR and full service restaurant clients. Terms of the transaction were not disclosed. ChowBOT’s features will be directly integrated into ShopKeep’s POS system. Foodservice operators will be able to sync their POS menu to online order sites where customers make their selections, complete payment and select from among onsite pickup, curbside pickup or delivery options. Order details will be automatically submitted to the restaurants, enabling these merchants to use third-party on-demand delivery providers such as UberRUSH or Postmates to manage their delivery processes.

Neiman Marcus To Explore Alternatives: Sale On The Horizon?

After yet another dismal quarter that saw revenue drop 6.1%, comparable store sales dip 6.8% and $117 million in net losses, Neiman Marcus revealed that it has hired advisers to help the brand explore and evaluate potential strategic alternatives, including a possible sale. Hudson’s Bay, owner of Lord & Taylor and Saks Fifth Avenue, has entered exploratory talks about acquiring Neiman Marcus, according to a report from The Wall Street Journal. The Canadian department store chain is seeking a deal that would give it control of the business without including Neiman Marcus' $5 billion in debt.

Is Third Time The Charm For Troubled Wet Seal Brand?

With Gordon Brothers winning the bankruptcy auction for the intellectual property of Wet Seal, the teen apparel retailer once again has the chance to avoid total dissolution. The restructuring and advisory firm’s $3 million bid topped a stalking horse offer from Canadian apparel retailer YM. Enduring two bankruptcies in two years,…
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Barnes & Noble Education Buys Virtual Bookstore Operator For $174 Million

Barnes & Noble Education (BNED), one of the nation's largest contract operators of higher education bookstores, has acquired MBS Textbook Exchange for $174.2 million in cash. The combined company will operate more than 1,490 physical and virtual bookstores serving more than six million students. MBS, itself a contract operator of virtual bookstores, also is one of the largest used textbook wholesalers in the U.S. Through its MBS Direct business, the company services more than 700 virtual bookstores with a comprehensive e-Commerce experience. MBS also sources and sells new and used textbooks to more than 3,700 physical college bookstores, including BNED's 770 campus locations, and provides inventory management, hardware and POS software to approximately 485 college bookstores.

Walmart Bags Moosejaw For $51 Million

Walmart continues to beef up its e-Commerce offerings as it seeks to challenge online leader Amazon. The latest acquisition is outdoors retailer Moosejaw. In a deal that closed Feb. 13, Walmart paid approximately $51 million for the brand, which has a strong online presence and 10 brick-and-mortar stores. Moosejaw's 400+ brands include well-known names like Patagonia and The North Face — merchandise that Walmart currently does not sell. The company's CEO, Eoin Comerford, his executive team and 350+ employees will continue to be based in Michigan, and the brand will be run as a standalone and complementary brand to Walmart's other e-Commerce sites.

Kroger Acquires Murray’s Cheese For $21 Million

Kroger has acquired Murray’s Cheese, a chain of specialty cheese and meat shops, as well as its flagship location on Bleecker Street and in Grand Central Terminal in New York City. The $20.6 million deal was made on Jan. 31, according to Forbes. “For cheese lovers and connoisseurs, it doesn’t get more authentic than Murray’s,” said Rodney McMullen, CEO of Kroger in a statement. “Our customers are excited to buy the unique offerings of Murray’s Cheese right in our stores, and we’re excited to ensure this iconic cheese shop will remain a part of the Kroger family for many years to come.”

Hudson’s Bay In Preliminary Talks To Take Over Macy’s

  • Published in News Briefs
Saks Fifth Avenue and Lord & Taylor parent Hudson's Bay has approached Macy's about a possible takeover, according to a report from The Wall Street Journal.  Talks between the companies are preliminary and there is no guarantee they will lead to a deal, the report said. Neither retailer has commented…
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LogMeIn Completes Merger With Citrix

LogMeIn, Inc., a provider of cloud-based connectivity, has completed its merger with Citrix Systems, Inc. and its GoTo family of services. The deal officially closed after market hours on January 31, 2017.  “Today we start an exciting new chapter together as a clear leader that has the scale, innovation and vision to reset customer, employee and shareholder expectations, while redefining our core markets,” said Bill Wagner, President and CEO of LogMeIn in a statement.

Regulatory Caution Keeps Walgreens-Rite Aid Merger On Thin Ice

  • Published in News Briefs
Those looking forward to the anticipated Walgreens-Rite Aid merger may need to hold the phone; the Federal Trade Commission (FTC) is reportedly unsatisfied with the companies’ efforts toward gaining antitrust approval, even after divesting 865 drugstores to Fred’s Pharmacy. The officials are concerned that Rite Aid’s potential $17.2 billion sale…
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Eyewear Giants Luxottica And Essilor Merge In $49 Billion Deal

Two of the biggest players in the $121 billion global eyewear market, Luxottica and Essilor, will team up in a $49 billion all-share deal. Luxottica is a frame manufacturer and retailer with a network of 7,800 retail stores including LensCrafters and Pearle Vision in North America and Sunglass Hut worldwide. Its brand portfolio features brands such as Ray-Ban, Oakley, Oliver Peoples and Alain Mikli. Luxottica employs more than 80,000 people around the world and had net sales of approximately 9 billion Euros in 2015. Essilor is a lens manufacturer of brands including Varilux, Crizal and Transitions. The company’s 2015 revenues were 6.7 billion Euros. Essilor employs approximately 61,000 people worldwide.

STRATACACHE Acquires Fellow Signage Provider Real Digital Media

STRATACACHE has acquired Real Digital Media for an undisclosed sum, marking the second time the brand has integrated an industry competitor in six months. In August, STRATACACHE acquired supermajority control of rival provider Scala. The move is the latest in STRATACACHE’s efforts to reach $1 billion in revenue by 2020, and hire more than 250 people during that time.

Gildan Wins American Apparel Auction With $88 Million Bid

Although Amazon and Forever 21 both reportedly showed interest in bidding on American Apparel during its bankruptcy auction, Canadian apparel manufacturer Gildan Activewear won the rights to the brand after raising its offer to $88 million. Gildan will not take on any of American Apparel's 110 stores, but will own its intellectual property and assume some of its manufacturing operations in California, according to Reuters. American Apparel will need to find a separate buyer to take over the stores in order for them to remain open.
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