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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.

Yesway Adds 300+ C-Stores To Portfolio With Allsup’s Acquisition

Yesway has advanced its goal of operating a fleet of 500+ convenience stores through the acquisition of Allsup’s, a convenience chain with more than 300 locations in Texas, New Mexico and Oklahoma, for an undisclosed sum. Yesway plans to continue offering Allsup’s products and services, including the “world famous” Allsup’s Burrito. "Allsup's founders, Lonnie and Barbara Allsup’s, were true pioneers, innovators, and visionaries of convenience store retailing," said Thomas Nicholas Trkla, Chairman and CEO of Yesway in a statement. "They were the first to offer customers hot, cooked foods, self-serve gasoline sales and 24-hour service. We could not be more pleased to be joining forces with such a strong, beloved company and talented team of employees."

Kibo Buys Monetate, Expanding Personalization Capabilities

Kibo will acquire the testing and personalization optimization solution provider Monetate for an undisclosed sum. The purchase, which follows Kibo’s acquisition of Certona in February, is designed to extend the reach of Kibo’s end-to-end cloud commerce platform. The addition of Monetate will enable Kibo to offer A/B and multivariate testing, content personalization, audience building and targeting functionalities, delivered via a self-serve user interface designed for merchandisers and marketers. Monetate clients will gain access to Kibo Order Management and e-Commerce solutions along with Certona personalization recommendations and search solutions.

DICK’S Sells 8 Field & Stream Stores For $28 Million

DICK’S Sporting Goods has agreed to sell the inventory and assets of eight Field & Stream stores to Sportsman’s Warehouse Holdings for $28 million. The 95-store Sportsman’s Warehouse plans to sublease the Field & Stream locations, which are in New York, Pennsylvania, North Carolina and Michigan, from DICK’S. “Each of these stores operate in strong markets, with well-established customer bases,” said Jon Barker, CEO of Sportsman’s Warehouse in a statement. “We look forward to serving these communities with our continued strong commitment to provide outstanding gear and exceptional service to inspire outdoor memories.”

VSP Global Acquires 700-Store Visionworks Chain

Vision benefits company VSP Global has taken a major step into brick-and-mortar eyewear retailing with its acquisition of Visionworks, which operates more than 700 stores across nearly 40 states and the District of Columbia. Terms of the deal were not disclosed. “With the close of this acquisition, we can provide more value to our clients and members and respond to their expectations for a substantial, consistent and sustainable retail eye care experience, underscored by the professional care of VSP network doctors,” said Michael Guyette, President and CEO of VSP Global in a statement.

McDonald’s Acquires Voice Ordering Platform, Will Create Tech Lab

McDonald’s is acquiring yet another technology company as it seeks to optimize the customer ordering experience across its 38,000+ locations. With the acquisition of Apprente, a voice-based conversational technology provider, the fast food giant will form McD Tech Labs. Financial terms of the deal have not been disclosed. In McDonald’s restaurants, the Apprente technology is expected to allow for faster, simpler and more accurate order-taking at the drive thru, with future potential to incorporate into mobile ordering and kiosks. The quick service restaurant already has been evaluating Apprente’s solutions in voice-activated drive thru lanes at select test restaurants.

Shopify Acquires Warehouse Automation And Robotics Firm For $450 Million

Shopify is acquiring 6 River Systems, a startup focused on warehouse automation technology development for e-Commerce and retail operations. The purchase is designed to accelerate the growth of the Shopify Fulfillment Network, which launched in June. The deal is valued at approximately $450 million — 60% in cash and 40% in shares. With 6 River Systems, Shopify adds cloud-based software and collaborative mobile robots called “Chuck,” capable of moving packages around a warehouse, to the Shopify Fulfillment Network. The 6 River technologies are designed to help Shopify increase the speed and reliability of its warehouse operations by empowering on-site associates with daily tasks, including inventory replenishment, picking, sorting and packing. 

Stitch Fix Acquires Technology From Digital Wardrobe Platform

Stitch Fix has acquired the intellectual property and technology from Finery, a platform that scans online shopping receipts to build a virtual wardrobe. Shoppers using the technology on their phones can then assemble outfit options and keep track of the garments they own. Financial terms of the Finery acquisition have not been disclosed, but Stitch Fix did not acquire the entirety of Finery. Customer information is not included in the deal.

Bazaarvoice Acquires Influenster, Boosting Network Reach To 6 Million Users

Bazaarvoice, a product review and user-generated content platform with a network of 6,000+ global brand and retailer web sites, has acquired Influenster, a product discovery and review platform with nearly six million community members. Terms of the deal have not been disclosed. In the wake of the acquisition, Bazaarvoice revealed a page dedicated to the company’s joint services with Influenster, highlighting how the services are “bringing shoppers and brands together.”

Report: Alibaba Acquires Kaola For $2 Billion

Alibaba Group has agreed to pay $2 billion in cash to acquire fellow Chinese cross-border e-Commerce platform NetEase Kaola, according to a report from Caixin Global. Kaola, owned by NetEase Inc., sells apparel, household appliances and other products from 9,000 brands, and is the largest of the Chinese shopping sites selling imported goods. While numerous news outlets have reported on the acquisition, Alibaba refused to provide a comment. The acquisition would represent major consolidation within the global e-Commerce space: NetEase Kaola held a 27.5% market share in cross-border e-Commerce in 2018, and Alibaba’s Tmall Global marketplace held 25%, according to iiMedia Research Group.

Steve Madden Acquires GREATS

Steve Madden has acquired GREATS, a Brooklyn-based digitally native footwear brand specializing in Italian-made sneakers, for an undisclosed amount. Founded in 2014 by Ryan Babenzein, GREATS opened a 500-square-foot flagship in Manhattan’s SoHo neighborhood in April 2018. The sneaker retailer had moved into wholesale after partnering with Nordstrom in October 2017.

Farfetch Adds Tech, New Brands With $675M Purchase Of New Guards

The online luxury fashion marketplace Farfetch has purchased New Guards Group, a brand platform that has launched several global luxury fashion brands, for $675 million. The acquisition extends Farfetch’s capabilities to include design, production and brand development. Farfetch is seeking to leverage its global consumer base, data insights and boutique network, combining them with New Guards’ support for designers with services such as strategy development, sourcing and production, merchandising, licensing, marketing and growth planning.

Canadian Tire Acquires Party City Canadian Retail Business For $130 Million

Canadian Tire will acquire the retail business and assets of Party City’s Canadian subsidiary, including its 65 stores, intellectual property and employee base, for $174.4 million CAD (approximately $131 million USD). As part of the acquisition, Party City's product assortments will be made available nationally across 500 Canadian Tire stores and online at Canadiantire.ca. The retailer will expand Party City's standalone store network in Canada and also plans to build Party City-branded store-in-store, pop-ups and "in-line" aisles across Canadian Tire locations. Canadian Tire also will integrate Party City into its Triangle Rewards program.

Nike Acquires Celect To Better Anticipate Customer Demand

Nike has acquired Celect, a predictive analytics and demand sensing technology company, for an undisclosed sum. The acquisition is fueling the footwear and apparel giant’s global “Consumer Direct Offense” strategy, according to a statement. Direct-to-consumer (DTC) sales are becoming a major cornerstone of the Nike business model. Sales from Nike’s Direct business rose 12%, from $9.1 billion in fiscal 2017 to $10.4 billion in fiscal 2018, according to SEC filings. Fueled by online growth, direct revenue now makes up about 30% of total Nike brand revenue, the company said.

1-800-FLOWERS.COM Acquires Shari’s Berries For $20.5 Million

1-800-FLOWERS.COM has won an auction to purchase certain assets from FTD, including the Shari’s Berries brand, for $20.5 million. The bankruptcy court will consider approval of the transaction on Aug. 9, at which point 1-800-FLOWERS.COM will acquire Shari’s Berries through a wholly owned subsidiary. “As with all of our brands, we will focus on driving strong top and bottom-line performance for the Shari’s Berries brand by enhancing the overall customer experience and leveraging the unique capabilities of our business platform to improve its operating efficiency,” said Chris McCann, CEO of 1-800-FLOWERS.COM in a statement.

PriceSpider Acquires ORIS Intelligence

PriceSpider, a data and consumer analytics technology firm, has acquired ORIS Intelligence, which provides near real-time analytics on pricing inconsistencies for brand manufacturers. Details of the transaction have not been disclosed. Leveraging its proprietary “spidering” technology, PriceSpider collects data from thousands of e-Commerce sites to provide analytics into product data, competitive comparisons, purchase decisions. Ultimately, the solution is designed to help brands enhance their presence and increase sales. With ORIS, PriceSpider can prioritize the integrity of pricing data “above all else,” PriceSpider CEO Anthony Ferry said in a statement.
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