Neiman Marcus Sold for $6 Billion
Ares Management LLC and Canada Pension Plan Investment Board announced plans to acquire Neiman Marcus Group from a group of investors led by TPG and Warburg Pincus for $6 billion, according to a press release.
Acquisition
Lowe’s Completes Acquisition of Orchard Supply Hardware
Lowe’s Companies announced the completion of its acquisition of Orchard Supply Hardware on Aug. 30. The acquisition, which includes 72 Orchard Supply stores, is valued at $205 million, according to a press release.
Rakuten to Add PopShops to Its Portfolio
Rakuten has entered into an agreement to acquire PopShops, a Seattle-based data and analytics company, for an undisclosed amount of money.
Target Acquires DermStore Beauty Group
Target announced this week it will be acquiring independent skin care ecommerce site DermStore Beauty Group. The acquisition will position Target to expand its share of evolving online beauty market and will further differentiate the company’s offerings, according to a press release from Target.
Hudson’s Bay Acquires Saks
Hudson’s Bay Company announced on July 29 the acquisition of Saks, valued at $2.9 billion or $16 a share, according to a press release from Sak’s Fifth Avenue. Hudson’s Bay Company also owns Lord & Taylor and Home Outfitters.
Men’s Wearhouse Acquires Brand Joseph Abboud
The Men’s Wearhouse (NYSE: MW) today announced that it has signed a definitive agreement to acquire JA Holding, Inc. (“JA Holding”), the parent company of the celebrated American clothing brand, Joseph Abboud.
Foot Locker’s Acqusition of Runners Point Group is Official
Foot Locker announced that it has officially acquired German-based specialty athletic retailer Runners Point Group. The acquisition of Runners Point Group represents a significant addition to Foot Locker’s European footprint, where it already operates more than 600 Foot Locker stores and had revenue of more than $1 billion in 2012.
Oriental Trading Company Acquires Mindware
Oriental Trading Company, a party supplies merchant, announced on June 27 it has acquired MindWare, a retailer of educational toys for children.
Rakuten CMO and COO Talks About Webgistix Acquisition
In this exclusive video, Rakuten CMO and COO Bernard Luthi tells Multichannel Merchant senior content manager Tim Parry what this deal means to Rakuten, which is competing with Amazon and eBay in the U.S. market.
Accenture to Acquire Acquity Group
Accenture entered into an agreement with Acquity Group Ltd., where Accenture will acquire Acquity Group, a digital marketing and ecommerce company, according to a press release on Acquity Group’s website.