Tag Archives: acquire

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Alibaba to acquire 33% equity interest in Ant Financial

Hangzhou, China, 2018-Feb-02 — /EPR Retail News/ — Alibaba Group Holding Limited (NYSE: BABA, “Alibaba”) and Ant Small and Micro Financial Services Group Co., Ltd. (“Ant Financial”) today (February 1, 2018) announced that pursuant to 2014 transaction agreements, Alibaba will acquire a 33% equity interest in Ant Financial. The parties have agreed to certain amendments to their 2014 transaction agreements to facilitate the transaction.

Under the terms of the amended agreements, Alibaba will acquire newly-issued equity from Ant Financial in exchange for certain intellectual property rights owned by Alibaba exclusively related to Ant Financial. There will be no cash impact to Alibaba following completion of the transaction. Upon closing, the companies will terminate the current profit-sharing arrangement under which Ant Financial pays royalty and technology service fees in an amount equal to 37.5% of its pre-tax profits to Alibaba.

Daniel Zhang, Chief Executive Officer of Alibaba Group, said, “This transaction is a significant step for Alibaba to enhance our long-term strategic relationship with Ant Financial as we continue to pursue our mission to make it easy to do business anywhere. Importantly, an equity stake in Ant Financial enables Alibaba and our shareholders to participate in the future growth of the financial technology sector, as well as the benefits of user growth and improved customer experience.”

Eric Jing, Chief Executive Officer of Ant Financial, said, “We are pleased to strengthen our strategic relationship with Alibaba. This marks the next step in our collaboration to generate more strategic synergies and deliver tremendous value proposition to our customers. We look forward to continuing to work with Alibaba as we pursue our mission to bring the world equal opportunities.”

The transaction was reviewed and approved by a committee of non-executive directors, the majority of whom are independent under NYSE rules (the “Alibaba Independent Committee”), the audit committee of Alibaba’s board and the full Alibaba board of directors. The closing of the transaction is subject to customary conditions. Alibaba will acquire the equity interest in Ant Financial through a Chinese domestic subsidiary.

Morrison & Foerster and King & Wood Mallesons acted as legal advisors, Credit Suisse acted as financial advisor and PricewaterhouseCoopers acted as tax advisor to the Alibaba Independent Committee. Wachtell, Lipton, Rosen & Katz, Sidley Austin LLP and Fangda Partners acted as legal advisors to Ant Financial.

A detailed summary of the transaction has been filed by Alibaba on Form 6-K with the Securities and Exchange Commission.

About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.

About Ant Financial
Ant Financial Services Group is focused on serving small and micro enterprises, as well as individuals. Ant Financial is dedicated to bringing the world more equal opportunities through building a technology-driven open ecosystem and working with other financial institutions to support the future financial needs of society. Brands under Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit, MYbank.

For more information on Ant Financial, please visit our website at www.antfin.com or follow us on Twitter @AntFinancial.

Safe Harbor Statements
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provision of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets” and similar statements. Forward-looking statements involve inherent risks and uncertainties, including but limited to the following: uncertainties as to the timing of the consummation of the transaction and the parties’ ability to consummate the transaction; the timely satisfaction of the closing conditions; regulatory approvals and uncertainties; unexpected costs, charges or expenses resulting from the transaction; potential adverse reactions or changes to business relationship resulting from the transaction; changes in laws, regulations and regulatory environment; fluctuations in general economic and business conditions; and actions by third parties, including government agencies. Further information regarding these and other risks is included in Alibaba’s filings with the SEC. All information provided in this announcement is as of the date of this announcement and are based on assumptions that we believe to be reasonable as of this date, and Alibaba does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Media Contacts:
Brion Tingler
Alibaba Group
+1 917 528 1992
brion.tingler@alibaba-inc.com

Fanny Wu
Ant Financial
+86 139 1026 8281
chen.wc@antfin.com

Rachel Chan
Alibaba Group
+852 9400 0979
rachelchan@alibaba-inc.com

Source: Alibaba Group

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SSP Group PLC to acquire Stockheim travel catering business

London, 2017-Dec-04 — /EPR Retail News/ — SSP Group PLC, a leading operator of food and beverage outlets in travel locations worldwide, has agreed1 to acquire part of the Stockheim group2, a travel concessions business based in Germany. The business operates 25 food and beverage outlets in airports and railway stations, including at Düsseldorf and Cologne, and had sales in 2016 of approximately €30m. The acquisition of these outlets will further strengthen SSP’s presence in travel locations across Germany, and is expected to complete in early 2018.

Commenting on the deal, Oliver Dörschuck, CEO of SSP Germany, Switzerland, Austria and France said; “We are delighted to have acquired Stockheim. The business has some great brands operating in some key locations across Germany.”

(1)     The agreement is subject to prior clearance by the German anti-trust authorities

(2)     Stockheim (Hbf.-Köln) GmbH and Stockheim Systemgastronomie GmbH & Co. KG

If you are a journalist and have a press enquiry, please call Templemere Public Relations on +44 (0) 1306 735574 or press.office@ssp-intl.com

Source: SSP Group

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Maxima grupė submits tender offer to acquire 100% of Stokrotka’s shares on Warsaw Stock Exchange

Vilnius, Lithuania, 2017-Nov-27 — /EPR Retail News/ — Maxima grupė has signed an investment agreement with Emperia Holding and is submitting a tender offer to acquire 100% of company’s shares on Warsaw Stock Exchange. Emperia Holding controls a Polish retail chain Stokrotka.

“Stokrotka is one of the leading food retail chains in the Polish market. We believe that attractive store formats and strong management team provide necessary foundations for successful chain’s development in the future. Emperia group also owns a portfolio of real estate properties that supplements its retail business well. Therefore Maxima Grupė is excited about prospects of acquiring Emperia and the opportunity to increase our exposure to the growing Polish food retail market, – comments Petras Jašinskas, chairman of the board at Maxima Grupė.”

Maxima Grupė offers a price of 100 zloty for one share of Emperia Holding and the total price for all company’s shares amounts up to 1,192 million PLN (approx. 283 million EUR). Tender offer conditions also stipulate that Maxima Grupė may withdraw from the tender offer if less than 66% of shares are submitted or if other pre-agreed conditions are not met.

“The offer to acquire shares is valid till the end of February, 2018. Afterwards, the transaction will be closed if pre-conditions are met and a positive ruling is received from Office of Competition and Consumer Protection. We strongly believe that we will successfully close the tender offer and acquire the control of the Company.” – says Petras Jašinskas.

Stokrotka network in Poland is composed of 410 stores and it has a market share of approx.  20% in the proximity store segment. Emperia group employs 8.2 thousand employees and had consolidated turnover of 2,451 million PLN at the end of year 2016.

At the moment Maxima Grupė controls retail chains under brands Maxima (in Baltics states), Aldik (in Poland), T-Market (in Bulgaria) and an electronic online shop of food and daily consumer goods Barbora. In year 2016 consolidated turnover of Maxima Grupė amounted to 2,693 million EUR.

For more information:

Ernesta Dapkienė
Head of Corporate Affairs
MAXIMA GRUPĖ, UAB
Mobile  +370 611 43 548
E-mail  ernesta.dapkiene@maximagrupe.eu

Source: MAXIMA GRUPĖ

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The LVMH Group to acquire 60% stake in Colgin Cellars

The LVMH Group to acquire 60% stake in Colgin Cellars

 

Paris, 2017-Nov-22 — /EPR Retail News/ — Ann Colgin, Founder of Colgin Cellars, and her husband Joe Wender, have chosen to partner with the LVMH Group, with the will to preserve their long-term commitment to the quality of their Cabernet and Syrah wines, as well as the spirit of excellence that has inspired them and their team for a quarter century.

Under the terms of the agreement, Ann Colgin and Joe Wender will sell a 60% stake to the LVMH Group while continuing to hold 40% equity in the business and maintaining their leadership functions. Their talented winery team will continue to be led by Ann Colgin & Joe Wender along with COO, Paul Roberts and Winemaker, Allison Tauziet.

Founded by Ann Colgin in Napa Valley 25 years ago, Colgin Cellars’ reputation is rooted in the unmatched quality of its four wines – “Tychson Hill” Cabernet Sauvignon, “Cariad” Napa Valley Red Wine, “IX Estate” Napa Valley Red Wine and “IX Estate” Syrah – which have developed an iconic status among wine collectors. The winery is located at the northern end of IX Estate in the Pritchard Hill area of Napa Valley – untouched by the recent Napa Valley fires – and offers inspiring views of Lake Hennessey.

Since its creation, excellence and quality have been at the heart of Colgin Cellars’ entrepreneurial journey. The winery’s success was built on its ultra-premium, limited production wines, all of which are consistently highly rated by several industry sources. The wines are sold primarily through an exclusive client list and also distributed to high-end restaurants and retailers in the US and over thirty countries globally.

“After a social introduction to Mr. Arnault several months ago and discussions with the LVMH team, I realized that I could not find a better partner for Colgin Cellars to preserve our founding spirit and our exquisitely handcrafted red wines, into the future. We are happy to join the LVMH Group to continue to offer our loyal customers the unique and high-end experiences we’ve been creating for them, for over a quarter of a century.” Ann Colgin, Founder of Colgin Cellars.

“We share with Colgin Cellars the same desire to offer the very best quality products. I am therefore delighted to welcome Colgin’s unique heritage into LVMH, reaffirming our strategy of selective acquisition of the best existing terroirs, and enriching our collection of iconic wines such as Château Cheval Blanc, Château d’Yquem or Domaine du Clos des Lambrays.” Bernard Arnault, Chairman and CEO of LVMH.

Investor and financial analyst relations:

Tel: +33 (0)1 44 13 21 21
Fax: +33 (0)1 44 13 21 19

Source: LVMH

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Delivery Hero Group to acquire the remaining shares in Korean food delivery platform Foodfly

Berlin, 2017-Sep-22 — /EPR Retail News/ — Delivery Hero Group (“Delivery Hero”), the leading global online food ordering and delivery marketplace, today (20 September 2017 ) announced it has agreed to acquire the remaining shares in Foodfly, a fast-growing Korean food delivery platform based in Seoul. Before the transaction, Delivery Hero already held a fully diluted stake of 21 percent in Fly&Company Inc. operating the Foodfly business. Financial details of the transaction were not disclosed.

Foodfly operates a food delivery marketplace with own delivery services, allowing it to add restaurants to its platform that do not offer delivery services themselves. Currently Foodfly maintains partnerships with 1,700 restaurants in Seoul. These services will allow Delivery Hero in Korea, currently operating under the Yogiyo brand and the Baedaltong brand, to provide additional restaurant choice to the consumer.

Foodfly was founded in 2011 and is managed by CEO Eunseon Lim. The entire management team will stay on board going forward.

Niklas Östberg, CEO of Delivery Hero, said: “We know the Foodfly team for two years and are impressed by their achievements. We believe in strong local teams and believe that the Foodfly services complement our offering for Korean consumers.”

Eunseon Lim, CEO of Foodfly: “We are excited to join forces with Delivery Hero and look forward to exploring the future of food delivery as part of the global leader.”

About Delivery Hero

Delivery Hero is the leading global online food ordering and delivery marketplace with number one market positions in terms of restaurants, active users and orders in more countries than any of its competitors and online and mobile platforms across 40+ countries in Europe, the Middle East & North Africa (MENA), Latin America and the Asia-Pacific region. Delivery Hero also operates its own delivery service primarily in 60+ high-density urban areas around the world. The Company is headquartered in Berlin and has over 6,000 employees in addition to thousands of employed delivery drivers.

For more information, please visit www.deliveryhero.com.

Media Enquiries:

Bodo v. Braunmühl
Head of Corporate Communications
bodo.braunmuehl@deliveryhero.com

Source: Delivery Hero Group

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The Home Depot® to acquire equipment rental and maintenance services provider Compact Power Equipment, Inc.

ATLANTA, 2017-Jul-08 — /EPR Retail News/ — The Home Depot® today (July 6, 2017) announced a definitive agreement to purchase Compact Power Equipment, Inc., a leading national provider of equipment rental and maintenance services for $265 million in cash. The transaction is expected to close by the end of the company’s fiscal second quarter.

As a long-term commercial partner of The Home Depot since 2009, Compact Power Equipment currently provides compact equipment rentals at more than 1,000 stores across the U.S. and Canada. The company also provides equipment maintenance services nationwide to a range of customers, including The Home Depot. By acquiring Compact Power Equipment, The Home Depot continues to invest in capabilities that uniquely serve its core customers.

“We’ve worked closely with the talented team at Compact Power Equipment for many years and are delighted to welcome them to The Home Depot family,” said Craig Menear, chairman, CEO and president of The Home Depot. “The acquisition allows us to further improve the customer experience – in particular for Pros – through enhanced equipment and tool rental offerings. It also allows us to grow Compact Power’s best-in-class building services capabilities.”

The Home Depot offers tool and equipment rentals at more locations across the U.S. and Canada than anyone else, providing easy access for both Pro and Do-It-Yourself customers. Its large assortment of rental offerings saves customers from the cost and hassle of maintenance and storage.

“With a collective focus on convenience and execution, together our companies will be even stronger to serve customers while remaining on the cutting edge of life-cycle management for commercial equipment,” said Roger Braswell, CEO, Compact Power.

“This acquisition creates many exciting opportunities for our employees and customers as we enter the next stage in our company’s history. We are thrilled and truly look forward to joining The Home Depot team and growing this business,” added COO Richard Porter.

The Home Depot is the world’s largest home improvement specialty retailer, with 2,281 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2016, The Home Depot had sales of $94.6 billion and earnings of $8.0 billion. The Company employs more than 400,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

Forward-Looking Statements

Certain statements contained herein constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to, among other things, the demand for our products and services; effects of competition; state of the residential construction, housing and home improvement markets; capital allocation and expenditures; financial outlook; successful closing of the Compact Power Equipment acquisition; and integration of Compact Power into our organization and the ability to recognize the anticipated synergies and benefits of the acquisition. Forward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events. You should not rely on our forward-looking statements. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control or are currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our expectations and projections. These risks and uncertainties include but are not limited to those described in Item 1A, “Risk Factors,” and elsewhere in our Annual Report on Form 10-K for our fiscal year ended January 29, 2017 and in our subsequent Quarterly Reports on Form 10-Q.

Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our periodic filings with the Securities and Exchange Commission.

SOURCE: The Home Depot

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ScanSource to acquire leading distributor of payment devices and services POS Portal

Greenville, SC – Worldwide Headquarters, 2017-Jul-04 — /EPR Retail News/ —ScanSource, Inc. (NASDAQ: SCSC), a leading global provider of technology products and solutions, today ( June 29, 2017) announced a definitive agreement to acquire POS Portal, a leading distributor of payment devices and services primarily to the SMB market segment. POS Portal brings 17 years of demonstrated success focused solely on the US payments industry channels.

Together, ScanSource and POS Portal will create the industry’s largest payments channel, ensuring customers have access to the solutions, services and support that can help them be successful. The two companies sell through complementary solution delivery channels with little customer overlap. ScanSource primarily serves the enterprise and mid-market merchant segments, with thousands of POS value-added resellers (VARs) and system integrators as customers.  POS Portal reaches the SMB merchant segment via strong relationships with the leading payment processors, independent sales organizations (ISOs) and many of the leading tablet-based POS software developers. Both companies’ existing customers will benefit; POS Portal’s customers will gain access to ScanSource’s larger portfolio of POS offerings, and ScanSource’s reseller customers will have access to additional services from POS Portal.

For the first full year after closing, POS Portal net sales are estimated to total approximately $110 million with an estimated EBITDA margin in the low teens. Under the agreement, the all-cash transaction includes an initial purchase price of approximately $144.9 million, plus an earn-out payment up to $13.2 million to be made on November 30, 2017. The earn-out payment is based on earnings before interest expense, taxes, depreciation and amortization (EBITDA) for the trailing twelve months (TTM) ending September 30, 2017. The acquisition is expected to be accretive to earnings per share in the first year after acquisition, excluding one-time acquisition costs.

The acquisition of POS Portal uniquely positions ScanSource as a market leader in both the POS and payments channels,” said Mike Baur, CEO ScanSource, Inc. “POS Portal brings an excellent customer service reputation, highly regarded value-added services, and vast knowledge of the payments industry. Together, we will provide greater business opportunities for our solution delivery channels. The tremendous culture fit between POS Portal and ScanSource will be exciting for our employees and customers.”

“ScanSource has been following our growth and strategy for a few years and saw the opportunity to expand our business model,” said Buzz Stryker, co-founder and CEO, POS Portal.  “As the payments channels converge, we and ScanSource are prepared to lead the channel with new services and solutions, and accelerate our strategic plan to provide the shopping and checkout infrastructure to tomorrow’s physical location merchant, in partnership with the channel.  We have a common vision for POS Portal to continue to innovate with suppliers, customers, and partners and advance our leading systems and processes.”

Mr. Stryker and Scott Agatep, Chief Operating Officer, along with the POS Portal team, will join ScanSource and provide the leadership and direction in further developing the ScanSource payments business. Upon completion of the transaction, POS Portal will become part of the Worldwide Barcode, Networking and Security segment of ScanSource.

Founded in 2000 and based in Sacramento, California, POS Portal offers its resellers payment terminals, comprehensive key injection services, reseller partner branding, extensive encryption key libraries, ability to provide P2PE encryption, and redundant key injection facilities. In addition, POS Portal partners with ISVs to deliver merchants integrated tablet POS solution hardware that merchants may purchase outright or “as a service” through Portal Advantage, which includes POS Portal’s SalesGuard service program.  SalesGuard coverage provides the merchant hardware support and next-day replacement of tablets, terminals, and peripherals. POS Portal has approximately 180 employees and operates in the United States.

The acquisition is expected to close in the quarter ending September 30, 2017, subject to the satisfaction of customary closing conditions and receipt of regulatory approvals. Prior to the close, ScanSource and POS Portal will continue to operate as independent companies.

Safe Harbor Statement

This press release includes forward-looking statements, including statements regarding POS Portal’s expected net sales and estimated EBITDA margin, its expected impact on ScanSource’s (“the Company”) earnings per share, expectations for POS Portal’s future, and expectations with respect to closing. Actual results may differ materially from those suggested by these statements for a range of reasons, including changes in pricing and costs for POS Portal’s services, the loss of customers, competitive responses and difficulties in integrating POS Portal’s business into the Company’s business. For additional factors, see the Company’s Form 10-K for the year ended June 30, 2016, and its subsequent Form 10-Qs, all as filed with the SEC. The Company disclaims any obligation to update forward-looking statements other than as required by law.

Non-GAAP Financial Information

In addition to disclosing results that are determined in accordance with United States Generally Accepted Accounting Principles (“GAAP”), the Company also discloses certain non-GAAP financial measures, which are summarized below.  Non-GAAP financial measures are used to better understand and evaluate performance, including comparisons from period to period. Non-GAAP results exclude amortization of intangible assets related to acquisitions, change in fair value of contingent consideration and acquisition costs.

Non-GAAP EBITDA MARGIN: To evaluate this acquisition, the Company considered non-GAAP EBITDA margin percentages. Non-GAAP results exclude amortization of intangible assets related to acquisitions, change in the fair value of contingent consideration, and other non-GAAP adjustments.

Non-GAAP financial measures have limitations as analytical tools, and the non-GAAP financial measures that the Company reports may not be comparable to similarly titled amounts reported by other companies.  Analysis of results and outlook on a non-GAAP basis should be considered in addition to, and not in substitution for or as superior to, measurements of financial performance prepared in accordance with GAAP.

About POS Portal

Since 2000, POS Portal has been changing the payments industry. As a leading distributor of credit card terminals and supplies, POS Portal is pioneering the way in logistics and distribution for secure payment devices. Having one of the most extensive libraries of injection keys and over 15 years of strategic relationships with gateways, processors, and terminal OEMs, POS Portal has the resources needed to always deliver secure devices preconfigured just the way our partners need them. With two Key Injection Facilities (KIF), POS Portal deploys devices to businesses nationwide. At POS Portal, we’re committed to providing exceptional service to the point-of-sale industry through mutually beneficial, long-lasting relationship. For additional information, please visit posportal.com or call 1-866-940-4POS (4767).

About ScanSource, Inc.

ScanSource, Inc. (NASDAQ: SCSC) is a leading global provider of technology products and solutions, focusing on point-of-sale (POS), barcode, physical security, video, voice, data networking and technology services. ScanSource’s teams provide value-added solutions and operate from two segments, Worldwide Barcode, Networking & Security and Worldwide Communications & Services. ScanSource is committed to helping its resellers and sales partners choose, configure and deliver the industry’s best solutions across almost every vertical market in North America, Latin America and Europe. In August 2016, ScanSource entered the recurring revenue telecom and cloud services market through its acquisition of Intelisys, the industry’s leading technology services distributor. Founded in 1992, the Company is headquartered in Greenville, South Carolina and was named one of the 2017 Best Places to Work in South Carolina. ScanSource ranks #647 on the Fortune 1000. For more information, visit www.scansource.com.

Contact:

Melissa Andrews
Title: Manager, Worldwide Public Relations
Phone: 864.286.4425

Source: ScanSource, Inc.

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Sycamore Partners to acquire Staples, Inc. for an equity value of approximately $6.9 billion

FRAMINGHAM, Mass. & NEW YORK, 2017-Jul-04 — /EPR Retail News/ — Staples, Inc. (NASDAQ: SPLS or the “Company”) and Sycamore Partners, a leading private equity firm, today (June 29, 2017) announced that they have entered into a merger agreement in which investment funds managed by Sycamore Partners will acquire the Company in a transaction that values Staples at an equity value of approximately $6.9 billion. Under the terms of the merger agreement, all Staples’ stockholders will receive $10.25 per share in cash for each share of common stock they own, which represents a premium of approximately 20 percent to the 10-day volume weighted average stock price for Staples shares for the period ended April 3, 2017, the last trading day prior to widespread media speculation about a potential transaction.

Staples’ Board of Directors has unanimously approved the merger agreement and recommends that all Staples stockholders vote in favor of the transaction.

Robert Sulentic, Chairman of the Board, said, “Today’s announcement is the result of a comprehensive process in which our Board, with the assistance of a transaction committee comprised of independent directors, and outside financial advisors, explored and considered various alternatives to enhance value for our stockholders. Staples’ Board believes that this process has led to a transaction which is in the best interests of our stockholders, as well as Staples and its employees.”

The transaction is subject to customary closing conditions, including the receipt of regulatory and stockholder approval, and is expected to close no later than December, 2017. The closing is not subject to a financing condition.

“With an iconic brand, a winning strategy, and dedicated and passionate associates who are deeply focused on the customer, Staples is truly an outstanding enterprise,” said Stefan Kaluzny, Managing Director of Sycamore Partners. “We have tremendous confidence in CEO Shira Goodman and great

respect for the Staples management team and are excited about this opportunity to partner with them to accelerate long-term profitability.”

“The Sycamore Partners’ team shares Staples’ entrepreneurial spirit and long-term vision,” said Shira Goodman, Chief Executive Officer and President, Staples, Inc. “This transaction will enable us to drive greater value for our customers and immense opportunity for our business.”

Barclays and Morgan Stanley & Co. LLC are acting as financial advisors and Wilmer Hale LLP is acting as legal advisor to Staples.

UBS Investment Bank, BofA Merrill Lynch, Deutsche Bank, Credit Suisse, Royal Bank of Canada, Jefferies, Wells Fargo Bank, National Association and Fifth Third Bank are providing debt financing for the transaction. BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as financial advisors and Kirkland & Ellis LLP is acting as legal advisor to Sycamore Partners.

About Staples, Inc.

Staples brings technology and people together in innovative ways to consistently deliver products, services and expertise that elevate and delight customers. Staples is in business with businesses and is passionate about empowering people to become true professionals at work. Headquartered outside of Boston, Mass., Staples, Inc. operates primarily in North America. More information about Staples (NASDAQ: SPLS) is available at www.staples.com.

About Sycamore Partners

Sycamore Partners is a private equity firm based in New York specializing in consumer and retail investments. The firm has more than $3.5 billion in capital under management. The firm’s strategy is to partner with management teams to improve the operating profitability and strategic value of their businesses. The firm’s investment portfolio currently includes Belk, Coldwater Creek, EMP Merchandising, Hot Topic, MGF Sourcing, NBG Home, Nine West Holdings, Talbots, The Limited and Torrid.

IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC

This filing may be deemed solicitation material in respect of the proposed acquisition of the Company by Sycamore Partners. The Company plans to file with the SEC and mail to its stockholders a Proxy Statement in connection with the transaction. This filing does not constitute a solicitation of any vote or approval. The Proxy Statement will contain important information about Sycamore Partners, the Company, the merger and related matters. Investors and security holders are urged to read the Proxy Statement carefully when it is available. Investors and security holders will be able to obtain free copies of the Proxy Statement and other documents filed with the SEC by Sycamore Partners and the Company through the web site maintained by the SEC at www.sec.gov. In addition, investors and security holders will be able to obtain free copies of the Proxy Statement from the Company by contacting Staples Investor Relations department at investor@staples.com. In addition, the proxy statement and our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge through our website at investor.staples.com as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC.

The Company, and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders with respect to the transactions contemplated by the merger agreement. Information regarding the Company’s directors and executive officers, including their ownership of the Company’s securities, is contained in the Company’s Annual Report on Form 10-K for the year ended January 28, 2017 and its proxy statement dated April 20, 2017, which are filed with the SEC. Investors and security holders may obtain additional information regarding the direct and indirect

interests of the Company and its directors and executive officers in the proposed transaction by reading the proxy statement and other public filings referred to above.

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS

Statements in this press release regarding the proposed transaction between Sycamore Partners and the Company, the expected timetable for completing the transaction, future financial and operating results, future opportunities for the combined company and any other statements about Sycamore Partners and the Company managements’ future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” estimates and similar expressions) should also be considered to be forward looking statements, although not all forward-looking statements contain these identifying words. Readers should not place undue reliance on these forward-looking statements. The Company’s actual results may differ materially from such forward-looking statements as a result of numerous factors, some of which the Company may not be able to predict and may not be within the Company’s control. Factors that could cause such differences include, but are not limited to, (i) the risk that the proposed merger may not be completed in a timely manner, or at all, which may adversely affect the Company’s business and the price of its common stock, (ii) the failure to satisfy all of the closing conditions of the proposed merger, including the adoption of the merger agreement by the Company’s stockholders and the receipt of certain governmental and regulatory approvals in the U.S. and in foreign jurisdictions, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (iv) the effect of the announcement or pendency of the proposed merger on the Company’s business, operating results, and relationships with customers, suppliers, competitors and others, (v) risks that the proposed merger may disrupt the Company’s current plans and business operations, (vi) potential difficulties retaining employees as a result of the proposed merger, (vii) risks related to the diverting of management’s attention from the Company’s ongoing business operations, and (viii) the outcome of any legal proceedings that may be instituted against the Company related to the merger agreement or the proposed merger. There are a number of important, additional factors that could cause actual results or events to differ materially from those indicated by such forward looking statements, including the factors described in the Company’s Annual Report on Form 10-K for the year ended January 28, 2017 and its most recent quarterly report filed with the SEC. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Contact:
Staples, Inc.
Media Contacts:
Mark Cautela
508-253-3832
mark.cautela@staples.com

Investor Contact:
Chris Powers
508-253-4632
christopher.powers@staples.com

Joele Frank for Sycamore Partners
Michael Freitag or Arielle Rothstein
212-355-4449
media@sycamorepartners.com

Source: Sycamore Partners

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S Group’s regional cooperatives to acquire Stockmann Delicatessen business operations in Finland

S Group’s regional cooperatives to acquire Stockmann Delicatessen business operations in Finland

 

Helsinki, Finland, 2017-Jul-03 — /EPR Retail News/ — Stockmann and S Group have signed an agreement on the transfer of the Stockmann Delicatessen business operations in Finland to S Group’s regional cooperatives. The purpose of the transaction is to develop the Delicatessen stores into European top-level flagship stores.

The transaction is pending approval from the Finnish Competition and Consumer Authority. The goal is to get the approval granted latest by the end of 2017. If approval is granted by that time, the transaction can be executed on 31 December 2017. If the transaction is implemented, all Stockmann Delicatessen employees in Finland will transfer to S Group as existing employees, and the Delicatessen stores will remain in all the Stockmann department stores.

“This is a historic moment for S Group and three of our cooperatives: HOK-Elanto, the Tampere Regional Cooperative and the Turku Regional Cooperative. Everyone in Finland is familiar with the strong Stockmann Delicatessen brand, and we hold it in extremely high regard as well,” says Arttu Laine, Executive Vice President at SOK.

“Stockmann Delicatessen is an institution and a key part of our department stores, now and in the future. We have found an excellent partner that has the willingness and resources to further develop Delicatessen in a competitive manner and to ensure that our customers will continue to have access to excellent service and selections,” says Lauri Veijalainen, CEO of Stockmann.

“A learning opportunity for S Group”

According to Laine, the integration of the Delicatessen stores into S Group would be in line with the Group’s current strategy, which was announced in 2015. S Group aims to improve its range of products and quality of service.

“Our goal is to develop the Delicatessen stores into S Group’s flagship stores. We are aiming for the top level in Europe, and the Delicatessen stores’ highly competent employees will play a crucial role in this respect. We have a great deal to learn from them,” says Laine.

“And the prices will decrease,” he adds.

In accordance with its strategy, Stockmann has been looking for partners that complement the product mix at its department stores and offer new services and experiences for its customers.

“Changes in procurement and logistics operations in particular have affected Stockmann Delicatessen’s competitiveness and accelerated our search for a partner. We are confident that our customers will continue to have access to the best grocery store services in Finland,” says Veijalainen.

What will Delicatessen be like in the future?

S Group is not allowed to participate in Delicatessen’s business operations or their development while approval from the Finnish Competition and Consumer Authority is pending. Furthermore, Stockmann cannot comment on future plans and wishes directed to S Group concerning Delicatessen.

“We want to understand Delicatessen’s customers and their hopes and thoughts. We invite them to discuss the Delicatessen of the future with us. First, we will listen very carefully, and we will engage in active dialogue once the transaction has been approved by the Competition and Consumer Authority,” says Laine.

In the planned transaction, the Delicatessen stores in the centre of Helsinki, Tapiola and in the Itis and Jumbo shopping centres will be transferred to HOK-Elanto. The Delicatessen store in Turku will be transferred to the Turku Regional Cooperative, and the store in Tampere to the Tampere Regional Cooperative.  The Stockmann Delicatessen chain operations will be transferred to SOK. The Stockmann Delicatessen kitchen, which prepares Stockmann Meals foods, will be transferred to Meira Nova, a subsidiary of SOK. The Delicatessen business operations in the Stockmann department stores in the Baltic countries will remain with Stockmann.

More information:

Arttu Laine
Executive Vice President
SOK
tel. +358 10 76 81011

Lauri Veijalainen
CEO, Stockmann
tel. +358 9 121 5062

Source: S Group

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CBRE to acquire a majority interest in Caledon Capital Management Inc.

Acquisition to Expand Suite of Infrastructure Investment Programs

Los Angeles, 2017-Jun-12 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) today (June 9, 2017) announced that it has entered into a definitive agreement to acquire a majority interest in Caledon Capital Management Inc. (Caledon), a Toronto-based investment management business specializing in private infrastructure and private equity investments.

Upon closing, Caledon will be renamed CBRE Caledon Capital Management Inc. and will operate as a separate business unit under CBRE’s independently operated investment management subsidiary, CBRE Global Investors. The Caledon management team comes with deep and successful experience in infrastructure and private equity investing. Prior to Caledon, most of the management team previously worked for Canadian pension plans that are leaders in infrastructure and private equity investing. This team will continue to manage the business and will maintain significant long-term ownership.

Caledon’s team of more than 30 people in Toronto manage approximately US$7 billion (over CA$9 billion) of assets for institutional investors through a combination of direct investments, co-investments, secondaries and primary funds. The pending addition of Caledon will complement the suite of investment solutions offered by CBRE Global Investors and its listed equity management arm, CBRE Clarion Securities.

“Investors are increasing their allocations to alternative investments, including real assets,” said Ritson Ferguson, CEO, CBRE Global Investors. ”Caledon’s market-leading investment solutions are a logical extension to our existing suite of real estate and infrastructure investment solutions, enhancing our position as an industry leader.”

“CBRE’s global reach and resources will improve Caledon’s access to more and larger quality investment opportunities around the world. This will enhance our ability to continue to deliver attractive returns for our clients as infrastructure investing becomes increasingly global,” said David Rogers, Founding Partner, Caledon.

Closing is expected to occur later this year and is subject to regulatory approval and other customary closing conditions.

About CBRE Group and CBRE Global Investors

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE Group offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. and is one of the world’s largest real estate investment management firms with $86.5 billion in assets under management as of March 31, 2017.  Please visit our website at www.cbre.com.

*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.

About Caledon Capital Management Inc.

Caledon is a leading infrastructure and private equity solutions provider. The firm seeks to create long-term value for its clients by accessing and managing high-quality investment opportunities and building comprehensive and customized infrastructure and private equity portfolios. Caledon’s business model is to combine direct investments, co-investments, secondary investments, and primary fund investments in a manner to suit each client’s unique investment objectives. The firm currently provides its services through customized separately managed accounts, portfolio management advisory solutions and pooled funds. Since its inception in 2006, the Caledon team has grown to over 30 people and manages over CA$9 billion of assets on behalf of 15 clients across North America.

Forward-Looking Statements

Certain of the statements in this release regarding the acquisition of the real estate investment management assets and operations of Caledon Capital Management Inc. (Caledon) that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.  Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to successfully integrate Caledon with the existing operations of CBRE Global Investors as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2016, and our Form 10-Q for the quarter ended March 31, 2017. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at investorrelations@cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

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US Foods to acquire food and food-related products distributor F. Christiana

ROSEMONT, Ill, 2017-Jun-05 — /EPR Retail News/ — US Foods announced today (June 02, 2017) that it has agreed to acquire F. Christiana, a broadline distributor of food and food-related products concentrating on the important center-of-the-plate categories as well as dairy and dry goods.

Family-owned for three generations, F. Christiana has nearly $100 million in annual sales and serves more than 1,800 independent restaurant, hotel, and independent deli/convenience store customers throughout Louisiana, southern Mississippi and parts of southern Alabama.

“F. Christiana has an excellent reputation in the independent operator space,” said Keith Knight, south region president, US Foods. “When combined with their success in key strategic markets such as New Orleans and Baton Rouge, this acquisition will further enhance our position with new and existing customers in Louisiana.”

“We see many similarities between US Foods and F. Christiana, most important of which is the passion for bringing value to its customers to help them succeed,” said Nick Christiana, general manager, F. Christiana. “With the size and scale of US Foods, our customers will have increased access to new and innovative products and business solutions to help them continue to grow their businesses profitably.”

F. Christiana will continue to operate under the F. Christiana name and will remain in the 70,000 square foot facility where it conducts business today.

The transaction is expected to close by mid-June. Terms of the transaction were not disclosed.

About US Foods

US Foods is one of America’s great food companies and a leading foodservice distributor, partnering with approximately 250,000 chefs, restaurants and foodservice operators to help their businesses succeed. With nearly 25,000 employees and more than 60 locations, US Foods provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. US Foods is headquartered in Rosemont, Ill. and generates approximately $23 billion in annual revenue. Discover more at www.usfoods.com.

Media Contact:
Sara Matheu
(847) 720-2392
Sara.Matheu@usfoods.com

Investor Contact:
Main IR Contact
ir@usfoods.com
General IR Number: 1-847-720-2815

Source: US Foods

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Delivery Hero Group to acquire Kuwait-based food delivery platform Carriage

Berlin, 2017-May-30 — /EPR Retail News/ — Delivery Hero Group (“Delivery Hero”), the leading global online food ordering and delivery marketplace, announced today (29 May 2017 ) it has agreed to acquire Carriage, a young and fast-growing food delivery platform based in Kuwait and operating in the Gulf Council Countries (GCC).

Carriage operates a hybrid business model offering both, delivery marketplaces and own delivery services in the Middle East, allowing it to add restaurants to its marketplaces that either do not offer deliver services themselves or intend to discontinue their own delivery services. This hybrid business model reflects a wider shift across several regions with a growing demand of customers and restaurants for such combined services. The acquisition ensures that Delivery Hero will stay at the forefront of this shift.

Niklas Östberg, CEO of Delivery Hero, said: “Carriage is an innovative player in the Middle Eastern food delivery market with an excellent management team. It will be a perfect addition to our current offering under the Talabat brand and strengthen our foothold in this region, where we see significant growth potential.”

Abdullah Jihad Almutawa, CEO of Carriage: “We are delighted to join forces with the leading global player in our space and are excited about the new opportunities that lie ahead of us. Becoming part of Delivery Hero will strengthen our business and extend our reach considerably.”

Carriage was founded and is managed by CEO Abdullah Jihad Almutawa, CFO Musab Jihad Almutawa, COO Khaled Youssef Alqabandi, and CTO Jonathan Lau. The strong team of founders was key to the acquisition and will remain on board going forward. The company was founded in Kuwait and has extended into several other markets in the region.

The parties have agreed not to disclose financial details of the transaction.

About Delivery Hero

Delivery Hero is the leading global online food ordering and delivery marketplace with number one market positions in terms of restaurants, active users, gross merchandise value or website traffic, in more countries than any of its competitors and online and mobile platforms across 40+ countries in Europe, the Middle East & North Africa (MENA), Latin America and the Asia-Pacific region. Delivery Hero also operates its own delivery service primarily in 50+ high-density urban areas around the world. The Company is headquartered in Berlin and has over 6,000 employees.

Media Enquiries:

Bodo v. Braunmühl
Head of Corporate Communications
bodo.braunmuehl@deliveryhero.com

Source:  Delivery Hero Group

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First Data to acquire all outstanding shares of common stock of CardConnect for $15.00 per share in cash

  • CardConnect’s innovative partner management tools help improve merchant retention
  • Capabilities accelerate First Data’s firm-wide ISV initiative
  • Brings First Data immediate capabilities in ERP-integrated payment solutions
  • All CardConnect tools and capabilities will be made available through First Data’s JVs, acquiring partnerships, and other distribution channels
  • Transaction is modestly accretive to adjusted EPS before expected synergies
  • Modest impact on leverage; medium-term deleveraging objective remains intact

NEW YORK AND KING OF PRUSSIA, PA,, 2017-May-30 — /EPR Retail News/ —First Data Corporation (NYSE: FDC), a global leader in commerce-enabling technology and solutions, and CardConnect Corp. (NASDAQ: CCN), a technology-oriented commerce solutions provider, announced today (29 May 2017) that they have entered into a definitive merger agreement for First Data to acquire all of the outstanding shares of common stock of CardConnect for $15.00 per share in cash. The transaction is expected to be modestly accretive to First Data’s adjusted EPS in the first full year post-closing, before expected synergies.

CardConnect is an innovative provider of payment processing and technology solutions and is one of First Data’s largest distribution partners. It processes approximately $26 billion of volume annually from about 67,000 merchant customers which are served by CardConnect’s large base of distribution partners.

“This transaction is consistent with our strategy of integrating and scaling innovative technologies across our distribution footprint to better serve our partners and customers,” said First Data Chairman and CEO, Frank Bisignano. “CardConnect is a long-standing First Data distribution partner and we are excited to incorporate their state-of-the-art solutions across some of our most important strategic initiatives such as partner-centric distribution, integrated payments, and enterprise payments solutions.”

“We are thrilled with the opportunity for CardConnect to partner with an organization that has the world class capabilities of First Data,” said CardConnect President and CEO, Jeff Shanahan. “This transaction improves our ability to innovate and deliver leading technology-oriented commerce solutions to our combined customer base. In addition, we believe our growth trajectory improves with First Data’s breadth of products and its powerful distribution network.”

Transaction Terms
Under the terms of the definitive merger agreement between the parties, a subsidiary of First Data will commence a tender offer to acquire all of the outstanding CardConnect common stock for a purchase price of $15.00 per share in cash, followed by a merger in which each share of CardConnect common stock not tendered will be converted into the right to receive $15.00 per share in cash. The aggregate transaction value is approximately $750 million, including repayment of CardConnect’s outstanding debt and the redemption of CardConnect’s preferred stock. First Data intends to fund the transaction with a combination of cash on hand and funds available under existing credit facilities.

The merger agreement has been unanimously approved by CardConnect’s Board of Directors. In addition, CardConnect shareholders holding approximately 40% of CardConnect common stock have entered into tender and support agreements agreeing to tender their shares of common stock into the tender offer and support the transaction. The transaction is subject to the tender of a majority of the outstanding shares of CardConnect common stock as well as other customary closing conditions, including expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The parties expect the transaction to close in the third quarter of 2017.

Allen & Company LLC acted as the exclusive financial advisor to First Data and Weil, Gotshal & Manges LLP acted as its legal advisor. Financial Technology Partners LP and FTP Securities LLC (collectively, “FT Partners”), served as exclusive financial and strategic advisor to CardConnect, and Wachtell, Lipton, Rosen & Katz acted as CardConnect’s legal advisor.

Conference Call and Webcast
The companies will host a conference call and webcast to review the transaction on Tuesday, May 30, 2017 at 8 a.m. ET. To listen to the call, dial +1 (844) 826-3033 (U.S.) or +1 (412) 317-5172 (outside the U.S.). The call will also be webcast on the Investor Relations section of the First Data and CardConnect websites at investor.firstdata.com and investors.cardconnect.com, along with a slide presentation to accompany the call.

A replay of the call will be available through July 12, 2017, at +1 (877) 344-7529 (U.S.) or +1 (412) 317-0088 (outside the U.S.); passcode 10108324, and via webcast at investor.firstdata.com and investors.cardconnect.com.

About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company’s 24,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 2,800 transactions per second and $2.2 trillion per year.

About CardConnect
CardConnect (NASDAQ: CCN) is an innovative provider of payment processing and technology solutions, helping more than 67,000 organizations – from independent coffee shops to iconic global brands – accept billions of dollars in card transactions each year. Since its inception in 2006, CardConnect has developed advanced payment solutions backed by patented, PCI-certified point-to-point encryption (P2PE) and tokenization. The company’s small-to-midsize business offering, CardPointe, is a comprehensive platform that includes a powerful reporting and transaction management portal which extends to a native mobile app. CoPilot is a centralized business management tool to help distribution partners manage their business. For enterprise-level organizations, CardSecure integrates omni-channel payment acceptance into several ERP systems – such as Oracle, SAP, JD Edwards and Infor M3 – in a way that minimizes PCI compliance requirements and lowers transaction costs.

Additional Information and Where to Find It
The tender offer for the outstanding shares of CardConnect (the “Company”) referenced in this communication has not yet commenced. This announcement is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of the Company, nor is it a substitute for the tender offer materials that First Data Corporation and its acquisition subsidiary will file with the U.S. Securities and Exchange Commission upon commencement of the tender offer. At the time the tender offer is commenced, First Data and its acquisition subsidiary will file tender offer materials on Schedule TO, and the Company will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer. The tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other tender offer documents) and the Solicitation/Recommendation Statement will contain important information. Holders of shares of the Company are urged to read these documents when they become available because they will contain important information that holders of the Company securities should consider before making any decision regarding tendering their securities. The Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, will be made available to all holders of shares of the Company at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement will be made available for free at the SEC’s web site at www.sec.gov. Additional copies may be obtained for free by contacting First Data, 225 Liberty Street, 29th Floor, New York, New York 10281, Attention: Investor Relations.

In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, First Data and the Company file annual, quarterly and special reports and other information with the SEC. You may read and copy any reports or other information filed by First Data or the Company at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the public reference room. First Data’s and the Company’s filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at http://www.sec.gov.

Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking information relating to First Data and the proposed acquisition of CardConnect by First Data that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the proposed acquisition; First Data’s and CardConnect’s plans, objectives, expectations and intentions; the financial condition, results of operations and business of First Data and CardConnect; industry, business strategy, goals and expectations concerning First Data’s and CardConnect’s market position, future operations, future performance and profitability; and the anticipated timing of closing of the acquisition. Risks and uncertainties include, among other things, risks related to the satisfaction of the conditions to closing of the acquisition (including the failure to obtain necessary regulatory approval) in the anticipated timeframe or at all, including uncertainties as to how many CardConnect stockholders will tender their shares in the tender offer and the possibility that the acquisition does not close; the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, including in circumstances which would require First Data or CardConnect to pay a termination fee or other expenses; risks related to the potential impact of the announcement or consummation of the proposed transaction on First Data’s or CardConnect’s important relationships, including with employees, suppliers and customers; disruption from the transaction making it more difficult to maintain business and operational relationships; negative effects of this announcement or the consummation of the proposed acquisition on the market price of First Data’s or CardConnect’s common stock and on First Data’s or CardConnect’s operating results; significant transaction costs; the risk of litigation and/or regulatory actions related to the proposed acquisition; the possibility that competing offers will be made; and risks related to the ability to realize the anticipated benefits of the acquisition, including the possibility that the expected benefits from the proposed acquisition will not be realized or will not be realized within the expected time period. Other factors that may cause actual results to differ materially include those that will be set forth in the Schedule TO, Schedule 14D-9 and other tender offer documents filed by First Data, Merger Sub and CardConnect. Many of these factors are beyond First Data’s and CardConnect’s control. A further description of risks and uncertainties relating to First Data and CardConnect can be found in their Annual Reports on Form 10-K for the fiscal year ended December 31, 2016 and in their subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all of which are filed with the SEC and available at www.sec.gov. Unless otherwise required by applicable law, each of First Data and CardConnect disclaims any intention or obligation to update forward-looking statements contained in this communication as the result of new information or future events or developments.

Contact:

First Data Contacts
Peter Poillon
Investor Relations
First Data
212-266-3565
Peter.Poillon@firstdata.com

Liidia Liuksila
Public Relations
First Data
212-515-0174
Liidia.Liuksila@firstdata.com

CardConnect Contacts
Joe Hassett
Gregory FCA Communications
610-228-2110
joeh@gregoryfca.com

Source: First Data Corporation

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Lowe’s Companies, Inc. to acquire Maintenance Supply Headquarters for $512 million

MOORESVILLE, N.C., 2017-May-19 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) today (May 18, 2017) announced it has entered into a definitive agreement to acquire Maintenance Supply Headquarters, a leading distributor of maintenance, repair and operations (MRO) products to the multifamily housing industry, for a total transaction value of $512 million. Based in Houston, Texas, Maintenance Supply Headquarters operates 13 distribution centers serving customers in 29 geographic areas, primarily in the western, southeastern and south central U.S., with a portfolio of more than 5,300 products and value-added services for maintaining and renovating multifamily properties.

The acquisition is expected to be completed in Lowe’s second fiscal quarter, following the receipt of regulatory approval and satisfactory completion of customary closing conditions. The transaction is expected to be accretive to Lowe’s earnings in fiscal 2017.

Purchasing Maintenance Supply Headquarters is an important step in Lowe’s strategy to deepen and broaden its relationship with the Pro customer and better serve their needs. When combined with Lowe’s November 2016 acquisition of Central Wholesalers, a prominent MRO distributor in the Mid-Atlantic and Northeast, this acquisition will substantially expand Lowe’s ability to serve the multifamily housing industry.

“Lowe’s has long served the multifamily housing industry through our Pro Services business, and we are excited about the potential to further expand our presence in this highly attractive and growing customer segment,” said Richard D. Maltsbarger, Lowe’s chief development officer and president of international. “Together, Maintenance Supply Headquarters and Central Wholesalers will expand our capabilities in serving this key segment while strengthening our platform for future growth with enhanced product and service offerings for MRO customers.”

Upon the close of the Maintenance Supply Headquarters transaction, Lowe’s combined multifamily MRO business will include 16 distribution centers in attractive regions throughout the nation generating more than $400 million in annual sales.

Richard “Rusty” Penick, co-founding partner and CEO of Maintenance Supply Headquarters, added, “We are thrilled to become part of the Lowe’s family and have high regard for the team and the company’s leadership in the home improvement industry. Our partnership with Lowe’s marks an exciting next step in the evolution and growth of Maintenance Supply Headquarters. Like Lowe’s, our team shares a commitment to deliver truly exceptional service for our customers, and over the past 10 years, we have been privileged to serve many of the nation’s top multifamily property management companies and their communities. We look forward to the new opportunities ahead.”

Founded in 2006, Maintenance Supply Headquarters’ broad product offering includes appliance, plumbing, HVAC, lighting, hardware, electrical and other products for maintaining and renovating multifamily properties, as well as services such as renovation project support, custom fabrication and educational classes.

Michael A. (Mike) Tummillo, a 13-year Lowe’s veteran and recently appointed senior vice president of Lowe’s pro sales organization, will oversee Maintenance Supply Headquarters and Central Wholesalers. He will also lead Lowe’s Pro Services business and Alacrity Services, a leading supplier of home restoration and repair services. Tummillo is responsible for deepening and broadening Lowe’s relationship with Pro customers to better serve their needs.

Goldman Sachs & Co. LLC is acting as financial advisor to Lowe’s, while Hunton & Williams LLP is acting as legal advisor. Crutchfield Capital Corporation is acting as financial advisor to Maintenance Supply Headquarters, while Porter Hedges LLP is acting as legal advisor.

About Lowe’s

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service 2,365 home improvement and hardware stores and employ over 290,000 people. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

Forward Looking Statement

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “believe”, “expect”, “anticipate”, “plan”, “desire”, “project”, “estimate”, “intend”, “will”, “should”, “could”, “would”, “may”, “strategy”, “potential”, “opportunity” and similar expressions are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Forward-looking statements include, but are not limited to, statements about future financial and operating results, Lowe’s plans, objectives, business outlook, expectations and intentions, expectations for sales growth, comparable sales, earnings and performance, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for services, share repurchases, Lowe’s strategic initiatives, including those regarding the acquisition by Lowe’s Companies, Inc. of  Maintenance Supply Headquarters  and the expected impact of the transaction on Lowe’s strategic and operational plans and financial results, and any statement of an assumption underlying any of the foregoing and other statements that are not historical facts. Although we believe that the expectations, opinions, projections and comments reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and we can give no assurance that such statements will prove to be correct. Actual results may differ materially from those expressed or implied in such statements.

A wide variety of potential risks, uncertainties and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as the rate of unemployment, interest rate and currency fluctuations, fuel and other energy costs, slower growth in personal income, changes in consumer spending, changes in the rate of housing turnover, the availability of consumer credit and of mortgage financing, inflation or deflation of commodity prices, and other factors that can negatively affect our customers, as well as our ability to: (i) respond to adverse trends in the housing industry, such as a demographic shift from single family to multifamily housing, a reduced rate of growth in household formation, and slower rates of growth in housing renovation and repair activity, as well as uneven recovery in commercial building activity; (ii) secure, develop, and otherwise implement new technologies and processes necessary to realize the benefits of our strategic initiatives focused on omni-channel sales and marketing presence and enhance our efficiency; (iii) attract, train, and retain highly-qualified associates; (iv) manage our business effectively as we adapt our traditional operating model to meet the changing expectations of our customers; (v) maintain, improve, upgrade and protect our critical information systems from data security breaches and other cyber threats; (vi) respond to fluctuations in the prices and availability of services, supplies, and products; (vii) respond to the growth and impact of competition; (viii) address changes in existing or new laws or regulations that affect consumer credit, employment/labor, trade, product safety, transportation/logistics, energy costs, health care, tax or environmental issues; (ix) positively and effectively manage our public image and reputation and respond appropriately to unanticipated failures to maintain a high level of product and service quality that could result in a negative impact on customer confidence and adversely affect sales; and (x) effectively manage our relationships with selected suppliers of brand name products and key vendors and service providers, including third party installers. With respect to the acquisition discussed herein specifically, potential risks include: the possibility that the acquisition will not close or that the closing may be delayed; the risk that required regulatory approvals are not obtained or that such approvals are delayed or subject to conditions that are not anticipated; the effect of the announcement of the acquisition on Lowe’s and  Maintenance Supply Headquarters’ strategic relationships, operating results and businesses generally; significant transaction costs or unknown liabilities; the failure to successfully integrate personnel and financial, IT and other systems; retaining management and other critical personnel; conditions in the maintenance, repair and operations market; and failure to realize all or some of the expected benefits of the transaction. For more information about these and other risks and uncertainties that we are exposed to, you should read the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies and Estimates” included in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) and the description of material changes thereto, if any, included in our Quarterly Reports on Form 10-Q or subsequent filings with the SEC.

The forward-looking statements contained in this news release are expressly qualified in their entirety by the foregoing cautionary statements. The foregoing list of important factors that may affect future results is not exhaustive. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. All such forward-looking statements are based upon data available as of the date of this release or other specified date and speak only as of such date. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf about any of the matters covered in this release are qualified by these cautionary statements and in the “Risk Factors” included in our most recent Annual Report on Form 10-K and the description of material changes thereto, if any, included in our Quarterly Reports on Form 10-Q or subsequent filings with the SEC. We expressly disclaim any obligation to update or revise any forward-looking statement, whether as a result of new information, change in circumstances, future events or otherwise, except as may be required by law.

Media Inquiries:
704-758-2917
PublicRelations@Lowes.com

Source: Lowe’s

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Darden Restaurants to acquire Cheddar’s Scratch Kitchen for $780 million in an all-cash transaction

ORLANDO, Fla., 2017-Apr-25 — /EPR Retail News/ — Darden Restaurants, Inc. (NYSE:DRI) today (April 24, 2017) announced that it has completed the acquisition of Cheddar’s Scratch Kitchen (Cheddar’s) for $780 million in an all-cash transaction from its stockholders including private equity firms L Catterton and Oak Investment Partners. This follows the agreement that was announced on March 27, 2017. The transaction price is subject to customary post-closing adjustments. Darden also paid $10 million for certain Cheddar’s transaction-related tax attributes and reimbursed its equityholders for pre-closing capital expenditures on new restaurants under development.

Darden funded the acquisition with the proceeds of a $500 million offering of 3.850% senior notes due 2027, which were issued on April 18, 2017, together with cash on hand.

With the acquisition now complete, Cheddar’s joins Darden’s portfolio of differentiated brands which also includes Olive Garden, LongHorn Steakhouse, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s.

Cheddar’s features high-quality, made-from-scratch food at compelling prices in a polished yet warm atmosphere. Today, Cheddar’s has 165 locations, including 140 owned and 25 franchised, across 28 states.

About Darden
Darden is a restaurant company featuring a portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. Our people equal our success, and we are proud to employ 165,000 team members in more than 1,600 restaurants. Together, we create memorable experiences for 380 million guests each year in communities across North America.

About L Catterton
L Catterton, formed in 2016 through the partnership of Catterton, LVMH and Groupe Arnault, is the largest consumer-focused private equity firm in the world, operating multiple funds out of seventeen offices across five continents. More information about L Catterton can be found at www.lcatterton.com.

About Oak Investment Partners
As a multi-stage venture capital firm, Oak Investment Partners focuses on high-growth opportunities in the Information Technology, Internet and Consumer, Financial Services Technology, Healthcare Information and Services and Clean Energy sectors. Oak Investment Partners’ goal is to help dynamic companies transform the way business is done.

Contact:

Financial (Analysts)
Kevin Kalicak
(407) 245-5870

(Media)
Rich Jeffers
(407) 245-4189

SOURCE: Darden Restaurants, Inc.

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PetSmart to acquire online pet retailer Chewy, Inc.

Combined Company Provides Most Convenient Customer Experience Across Brick and Mortar and Online Channels

Phoenix, AZ, 2017-Apr-19 — /EPR Retail News/ — PetSmart, Inc. (“PetSmart”) today (Apr. 18, 2017) announced it has entered into a definitive agreement to acquire Chewy, Inc. (“Chewy”), the online pet retailer. The acquisition accelerates the execution of PetSmart’s strategy and is a critical milestone in its transformational journey to be the most convenient, best-in-class pet retailer. The combination of PetSmart and Chewy will enhance both companies’ capabilities and reach, offering the widest selection of pet products and services available both in-store and online in North America. The acquisition, which is subject to customary regulatory approvals, is expected to close by the end of PetSmart’s second fiscal quarter of 2017.

“PetSmart strives to be the trusted partner to pet parents and pets in every moment of their lives,” said Michael Massey, president and chief executive officer of PetSmart. “We are focused on improving our customers’ experience in-store and online as we continue to execute against our long-term strategic initiatives. Chewy’s high-touch customer e-commerce service model and culture centered around a love of pets is the ideal complement to PetSmart’s store footprint and diverse offerings. Together, PetSmart and Chewy will provide the most convenient customer experience to a wider base of pet parents across every channel.”

Chewy is one of the leading online retailers of pet products and has seen extraordinary growth since it was founded by Ryan Cohen and Michael Day in 2011. Chewy’s position in the growing, underpenetrated online pet retail segment complements PetSmart’s strong footprint in brick and mortar, with over 1,500 stores and 55,000 dedicated associates across North America. In addition to providing a “wow” customer experience, Chewy’s extensive product selection and subscription model have attracted and retained a significant customer base that has contributed to the growth of customer purchasing through online channels.
“Since we started Chewy, we have been dedicated to understanding and satisfying the evolving needs of our customers to deliver the highest quality pet products and customer service,” said Ryan Cohen, co- founder and CEO of Chewy. “Combining our strong e-commerce expertise with PetSmart’s best-in-class infrastructure, footprint and breadth of offerings including services will help us ‘wow’ our customers even more.”

Upon closing, Chewy will continue to be led by CEO Ryan Cohen and operate largely as an independent subsidiary of PetSmart, focusing on its current business strategy, while PetSmart will continue to execute its strategic initiatives across the combined company. Both companies will use their shared innovative capabilities and offerings in order to deliver the most value and convenience to customers.

Both companies share a common goal to improve the lives of pets and people, dedicating significant time and resources to nonprofit animal welfare organizations. PetSmart Charities is the leader in pet adoptions, having facilitated more than 7 million adoptions since 1994, and the largest funder of animalwelfare in North America. This organization is complementary to Chewy’s philanthropic efforts, including the Chewy.com Rescue and Shelter Network.

Financial advisors to PetSmart on this transaction were Citi and Barclays, with Simpson Thacher & Bartlett LLP acting as its legal advisor. Citigroup Global Markets Inc. and Barclays also provided committed financing for the acquisition. Equity financing is being provided by PetSmart’s existing shareholders. Financial advisor to Chewy on this transaction was Allen & Company, with Weil, Gotshal & Manges LLP acting as its legal advisor.

About PetSmart

PetSmart, Inc. is one of the largest pet retailers of services and solutions for the lifetime needs of pets. At PetSmart, we love pets and we believe pets make us better people. Every day with every connection, PetSmart’s passionate associates help bring pet parents closer to their pets so that together, they can live more fulfilled lives. This vision impacts everything we do for our customers, the way we support our associates and how we give back to our communities. We employ approximately 55,000 associates, operate more than 1,500 pet stores in the United States, Canada and Puerto Rico, as well as more than 200 in-store PetSmart® PetsHotel® dog and cat boarding facilities. PetSmart provides a broad range of competitively priced pet food and products, as well as pet-focused services such as dog training, pet grooming, pet boarding, PetSmart ® Doggie Day Camp® and pet adoption. PetSmart, together with non- profits PetSmart Charities® and PetSmart Charities™ of Canada, invite more than 3,000 animal welfare organizations to bring adoptable pets into stores so they have the best chance possible of finding a forever home. Through this in-store adoption program and other signature events, PetSmart has facilitated more than 7.3 million adoptions – more than any other brick-and-mortar organization. PetSmart also operates AllPaws, an online pet adoption platform that helps potential pet parents find the perfect pet to adopt based on their home, family and lifestyle. PetSmart offers the most comprehensive pet care information in the U.S. In celebration of its 30th anniversary, PetSmart launched its Buy a Bag, Give a Meal™ program in March 2017. For every bag of cat or dog food purchased March 1 – Dec. 31, 2017, PetSmart will donate a meal to pets in need and expects to donate more than 60 million meals in 2017.

About Chewy

Chewy is a leading online retailer of pet food and products in the United States. Founded in 2011 by entrepreneurs, Ryan Cohen and Michael Day, Chewy set out to offer pet parents the expertise and service of a local pet store with the convenience of online shopping. Chewy delivers on that promise with its dedication to 24/7 customer service, creation of cutting-edge software and technology to enhance the user experience, and commitment to sourcing high quality products. Headquartered in Dania Beach, Florida, Chewy currently employs more than 5,000 pet lovers both in their home office, Boston office and fulfillment centers in Pennsylvania, Indiana, Texas and Nevada. For more information, visit www.chewy.com.

Contacts:

Teneo Strategy
Bethany Sherman
917-373-6465
bethany.sherman@teneostrategy.com

Kathleen Lacey
917-520-9717
kathleen.lacey@teneostrategy.com

Liz Bruce
917-733-0876
liz.bruce@teneostrategy.com

Source: PetSmart, Inc.

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Pradera European Retail Parks Fund to acquire 25 retail parks in eight European countries

London, 2017-Apr-07 — /EPR Retail News/ — Pradera, one of Europe’s leading specialist retail property fund and asset managers, has today (05 April 2017) announced the first closing of the Pradera European Retail Parks SCSp, a Luxembourg fund. In a EUR 900 million transaction agreed with IKEA Centres, the Fund has signed a contract to acquire 25 prime retail parks next to IKEA stores in eight European countries.

Pradera was able to complete the deal with equity investment from LJ Partnership, the private wealth partnership, which took a significant minority stake in the business in May 2016.

The portfolio of retail parks situated next to IKEA stores comprises around 500 units with a GLA of around 538,000 sqm.  Completion on 17 assets located in Germany, France and Poland is expected on 4 April 2017, with a further eight retail parks in Sweden, Finland, Denmark, the Czech Republic and Switzerland due to complete on 31 August.

David Fletcher, Chief Executive of Pradera, explained that the properties being acquired from IKEA provide an excellent portfolio for the Fund, which has been established to invest in income-producing retail parks across Europe, stating: “As the world’s leading home furnishings retailer, IKEA is a strong anchor in these locations. These parks have been developed and managed by IKEA Centres and are let to major tenants including Media Markt, OBI, Decathlon and Leroy Merlin. They greatly benefit from the drawing power that IKEA stores brings to these locations.”

The new Fund comes at the start of a year in which Pradera looks to expand further, having launched a successful joint venture with Macquarie in Asia last year. Pradera Retail Asia already has over EUR 900 million of assets under management in China.

Colin Campbell, Chairman of Pradera, commented: “The acquisition of this portfolio and the creation of Pradera European Retail Parks SCSp demonstrates the significant synergies between Pradera and LJ Partnership. Pradera was able to source and secure the portfolio, enabling clients and associates of LJ Partnership to participate in an investment they otherwise wouldn’t have had access to.”

Andrew Williams, CEO of LJ Partnership, said: “We are delighted to have backed the acquisition process through our partnership with Pradera. LJ Partnership’s strategy of partnering with best in class managers continues to deliver excellent investment opportunities; execution and management capability and returns profiles.”

PRESS ENQUIRIES:

James Carnegie
Good Relations Property
+44 20 7861 2573
jcarnegie@goodrelationsproperty.co.uk

Source: radera European Retail Parks

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LVMH to acquire majority share in Maison Francis Kurkdjian

LVMH to acquire majority share in Maison Francis Kurkdjian

 

Paris, 2017-Mar-23 — /EPR Retail News/ — Motivated by a shared vision of French perfume making and the creativity that inspires it, LVMH and Maison Francis Kurkdjian have announced their association in order to jointly pursue the long-term development of the fragrance House. Under the agreement LVMH will acquire a majority share in Maison Francis Kurkdjian. Marc Chaya and Francis Kurkdjian will continue in their current roles as Chief Executive Officer and Creative Director, respectively, and will remain shareholders of the company.

Maison Francis Kurkdjian has since its founding in 2009 created contemporary fragrances characterized by excellence, savoir-faire and audacity. Consistent with the vision of the two founders, Maison Francis Kurkdjian is emblematic of a new generation of exclusive and atypical fragrance Houses. The House’s fragrance collection is conceived as a “fragrance wardrobe”. Committed to uncompromising quality in the unique tradition of French fine perfumery, the House at the same time proposes a contemporary vision of the art of creating and wearing perfume. Maison Francis Kurkdjian is currently present in 40 countries and in 2016 became a member of the Comité Colbert, the association that promotes French luxury and art de vivre around the world.

Internationally-renowned perfumer Francis Kurkdjian has designed visionary fragrances that meld exacting quality and contemporary flair for leading names in beauty and fashion. He has in particular collaborated with several LVMH Houses, including Acqua di Parma, Christian Dior, Guerlain and, most recently, Kenzo. For more than 20 years he has explored new creative territories in fragrances through his own bespoke fragrance atelier, collaborations with artists and pop-up installations. Francis Kurkdjian received the honorary title of Chevalier des Arts et Lettres in 2008. A former partner at Ernst & Young in Paris, Marc Chaya has been part of the perfumer-manager duo that has led Maison Francis Kurkdjian since they founded it in 2009.

The acquisition by LVMH of a majority interest in Maison Francis Kurkdjian will allow the fragrance House to pursue its growth, in particular in international markets, fully respecting its distinctive character, uncompromising quality standards and creative freedom.

“We share the same spirit of creativity, excellence and entrepreneurial drive as the LVMH Group. This rapprochement is built on a shared vision and we will continue to guide the future of our House as part of an exceptional Group,” says Marc Chaya, co-founder of Maison Francis Kurkdjian.

Contact:

LVMH Moët Hennessy – Louis Vuitton
22, avenue Montaigne, 75008 Paris – France
Tel: +33 (0)1 44 13 22 22
Fax: +33 (0)1 44 13 22 23

Source: LVMH

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Garrett Brands to acquire Frango® from Macy’s, Inc.

Brands Legacy Aligns with Purchaser’s Growth Strategy

CINCINNATI & CHICAGO, 2017-Jan-31 — /EPR Retail News/ — Macy’s, Inc. (NYSE:M), one of the nation’s premier retailers, and Garrett Brands, owner of Garrett Popcorn Shops, today (Jan. 30, 2017) announced that they have entered an agreement by which Garrett Brands will acquire Frango®, a distinguished, premium chocolate brand, from Macy’s, Inc.

As the owner of Frango, Garrett Brands will develop, create, sell and distribute Frango products consistent with the brand’s legacy as a superior chocolate and confectionary brand. Macy’s, Inc. will continue to sell Frango products in the Frango Café at Macy’s State Street store in Chicago, at more than 350 additional Macy’s store locations in the United States, and online at macys.com. The Chicago and Seattle markets hold the greatest brand history, dating back to 1918, but over the years, the Frango business and awareness has grown to many other states through Macy’s, Inc. distribution and stewardship.

“Frango is a perfect fit for our company’s portfolio, aligning well with our strategy to preserve and grow iconic brands that have historic franchise value with a unique and storied past,” said Lance Chody, owner and CEO of Garrett Brands. “This is an exciting opportunity to expand the reach and offerings of the delicious Frango confections consumers know and love to more people in more places, just as we have done with our other brands.”

Maneesha Khandelwal, senior vice president of Garrett Brands, added, “We are committed to preserving Frango’s highest standards of taste and quality, and its heritage in Chicago and Seattle as key pillars of building on the brand’s identity.”

“We are happy to have found such a natural partner in Garrett Brands and are confident they will be great stewards of the Frango brand,” said Tim Baxter, chief merchandising officer at Macy’s, Inc. “We will continue to offer Macy’s customers the Frango products they love online and at Macy’s stores in Chicago, Seattle and across the country. And, given Garrett Brands’ history of thoughtfully growing brands, we are confident that this partnership will introduce new customers to premium Frango chocolates.”

About Macy’s, Inc.

Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier retailers, with fiscal 2015 sales of $27.079 billion. The company operates more than 700 department stores under the nameplates Macy’s and Bloomingdale’s, and approximately 125 specialty stores that include Bloomingdale’s Outlet, Bluemercury and Macy’s Backstage, in 45 states, the District of Columbia, Guam and Puerto Rico, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Bloomingdale’s in Dubai is operated by Al Tayer Group LLC under a license agreement.

About Garrett Brands LLC

Garrett Brands LLC is privately held and operated by Lance Chody and his family. The company owns Garrett Popcorn Shops® and has corporate offices in Chicago and Hong Kong. Garrett Popcorn Shops® offer handcrafted, artisanal popcorn in nine countries and on the garrettpopcorn.com website. Since 1949, the company has established itself with Sweet and Savory confectionary flavors, including the combination of its CaramelCrisp® and CheeseCorn recipes famously born in Chicago and known as Garrett Mix®. The company’s other flavors include chocolate offerings and country-specific recipes.

About Frango

Frango® is a premium chocolate brand with an iconic history rooted in Chicago and Seattle, dating back to 1918. Frango’s delicious chocolate collections – including its core flavor products, original Chicago recipes and Frederick & Nelson recipes – have served as thoughtful gifts for decades, bringing joy to consumers around their most special occasions. Originally developed by Seattle’s Frederick & Nelson department store, Frango was introduced to the Chicago market when Marshall Field’s acquired Frederick & Nelson. Since taking ownership of Frango through its merger with Marshall Field’s, Macy’s has preserved Frango’s beloved tradition in Chicago and Seattle, and has expanded the Frango legacy through broad online distribution on macys.com.

(NOTE: Additional information on Macy’s, Inc., including past news releases, is available at www.macysinc.com/pressroom)

Media Contact:
Blair Fasbender / Melissa Epstein
212-333-3810

Investors Contact:
Matt Stautberg
513-579-7780

Garrett Brands Media:
Michelle Molise
313-549-3137
MMolise@MolisePR.com

Source: Macy’s, Inc.

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Luxottica Group to acquire one of the largest optical franchisors in Brazil Óticas Carol

Milan , 2017-Jan-31 — /EPR Retail News/ — Luxottica Group S.p.A, a leader in the design, manufacture, distribution and sale of fashion, luxury and sports eyewear, signed an agreement with the current shareholders of Óticas Carol under which Luxottica will acquire 100% of Óticas Carol, one of the largest optical franchisors in Brazil with approximately 950 locations.

Established in 1997, Óticas Carol sells a broad range of prescription frames and sunglasses, with annual system sales of approximately Euro 200 million. Óticas Carol has achieved significant growth in recent years, strengthening its management team and growing its retail footprint from approximately 500 stores in 2013 to 950 in 2016, largely through established partnerships with franchisees.

“Brazil is a great country, one we have believed in and operated in for 25 years,” said Leonardo Del Vecchio, Executive Chairman of Luxottica Group. “With this transaction, we take one step further in completing our vertically integrated business model, which has shown many benefits for all our consumers”.

According to Ronaldo Pereira, CEO of Óticas Carol: “The transaction brings Carol to a whole new level. Our franchisees will belong to a global eyewear company, which brings them a greater sense of security to continue to grow and invest in our brand. Now we have all the necessary tools to move forward with our expansion plans”.

The transaction, which is valued at Euro 110 million, remains subject to customary regulatory approvals and is expected to close in the first half of 2017.

Upon completion, the transaction will mark Luxottica’s entry into the optical retail business in Brazil, a region with excellent growth potential in eyewear. Luxottica currently operates a network of Sunglass Hut stores in Brazil and has a solid presence through its wholesale business and a manufacturing plant in Campinas.

3i Group plc, Neuberger Berman and Siguler Guff & Company, LP are the major selling shareholders involved in the transaction.

Contact:

Alessandra Senici
Group Investor Relations and Corporate Communications Director
Tel: +39 02 8633 4870

Source: Luxottica Group

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AmRest Holdings SE to acquire Pizza Hut Delivery business in France from Top Brands NV

AmRest Holdings SE to acquire Pizza Hut Delivery business in France from Top Brands NV

 

Wroclaw, Poland, 2017-Jan-26 — /EPR Retail News/ — AmRest Holdings SE („AmRest”, “the Company”) (WSE: EAT), the largest publicly listed restaurant operator in Central Europe, announces signing on January 24th , 2017 a Share Purchase Agreement with Top Brands NV aimed at the acquisition of Pizza Hut Delivery business in France.

On the basis of the agreement AmRest will purchase 100% shares of Pizza Topco France, being the exclusive master franchisee of Pizza Hut Delivery restaurants in the French market. Estimated purchase price is ca. 14 million (approx. PLN 61 million) and will be confirmed at the transaction closing. Intention of the SPA parties is to finalize the transaction within next couple of months, which is a subject to closing conditions, including conclusion of a master franchise agreement with Pizza Hut brand owner – Yum! Restaurant Holdings.

Currently Pizza Topco operates 123 Pizza Hut Delivery restaurants. 7 locations are the equity business, the rest are franchisee managed restaurants.

France is not a new market for AmRest. The Company entered that country while acquiring La Tagliatella business in 2011. Management Board is enthusiastic about the opportunity to significantly strengthen AmRest presence in that potential market.

“We are very excited about this huge opportunity of creating and building the future of Pizza Hut brand in France. This is another step in strengthening our presence in Western Europe as well as strategic milestone in building nr. 1 delivery business in Europe. We are honored to welcome so many great people in our AmRest family. I am sure that together we will bring a lot of fun to our customers lives.” – said Monika Czyż, Pizza Hut Delivery&Express President at AmRest.

The transaction is a perfect match for AmRest’s plans of accelerated development of the Pizza Hut brand, initiated by signing in August 2016 the master franchise agreement for Central and Eastern Europe. The expansion plans for France assume development of both the Pizza Hut Delivery and Express concepts.

The Management Board is confident that the addition of Pizza Hut Delivery business in France will result in value creation for the Company’s shareholders.

Contact:
Dorota Surowiec
IR Manager
+48 71 386 1235
dorota.surowiec@amrest.eu

Source: AmRest Holdings SE

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PVH Corp. to acquire the licensed Tommy Hilfiger men’s tailored clothing business for North America from Marcraft Clothes, Inc.

NEW YORK, 2017-Jan-25 — /EPR Retail News/ — PVH Corp. (NYSE:PVH) announced today (Jan. 24, 2017) that it has entered into an agreement to acquire the licensed Tommy Hilfiger men’s tailored clothing business for North America from Marcraft Clothes, Inc. Marcraft operates the business under license from Tommy Hilfiger Licensing LLC, a wholly owned subsidiary of PVH. As part of the transaction, PVH will acquire certain assets related to the licensed business and the license agreement would be terminated effective December 31, 2017. PVH intends to consolidate the North America men’s tailored businesses for all of its brands under one partner, Peerless Clothing International, Inc., beginning January 2018. Terms of the transaction were not disclosed.

Emanuel Chirico, Chairman and CEO of PVH said, “We thank the Marcraft team for its partnership and for building a successful men’s tailored clothing business for the Tommy Hilfiger brand in North America. However, we believe it best serves the needs of our Company and brands to have all of the men’s tailored businesses under the direction of one partner.”

“We believe our longstanding relationship with Tommy Hilfiger and PVH has allowed us to drive the growth of the Tommy Hilfiger men’s tailored business in North America and our overall business over the last eight years,” said Gary Brody of Marcraft. “We believe the expertise we have developed will serve us well as we continue to operate our other existing businesses and identify future opportunities for growth,” said Jeffrey Brody, of Marcraft.

About PVH Corp.

With a history going back over 130 years, PVH has excelled at growing brands and businesses with rich American heritages, becoming one of the largest apparel companies in the world. We have over 30,000 associates operating in over 40 countries and over $8 billion in annual revenues. We own the iconic Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Speedo*, Warner’s and Olga brands, and market a variety of goods under these and other nationally and internationally known owned and licensed brands.

*The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International, Limited.

About Marcraft Clothes, Inc.

Marcraft Apparel Group is a privately held men’s tailored clothing company in the United States, with over 40 years of experience sourcing branded and private label suits, suit separates, sport coats, pants, overcoats and raincoats. The company provides expertise in piece goods, product design and product development as well as product packaging and marketing. Marcraft has licenses with Kenneth Cole, Ben Sherman, Karl Lagerfeld, Bruno Magli, GH Bass and Jones New York.

PVH CORP. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:

Forward-looking statements made in this press release, including, without limitation, statements relating to PVH Corp.’s future earnings, plans, strategies, objectives, expectations and intentions, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not be anticipated, including, without limitation, the following: (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company, including that the Company may not conclude the intended purchase from Marcraft Clothes, Inc. or consolidate the men’s tailored businesses under its brands in North America; (ii) the levels of sales of the Company’s licensees at wholesale and retail, and the extent of discounts and promotional pricing in which the Company’s licensees and other business partners are required to engage, all of which can be affected by weather conditions, changes in the economy, fuel prices, reductions in travel, fashion trends, consolidations, repositionings and bankruptcies in the retail industries, and other factors; (iii) civil conflict, war or terrorist acts, the threat of any of the foregoing, or political and labor instability in any of the countries where the Company’s licensees’ or other business partners’ products are sold, produced or are planned to be sold or produced; (iv) disease epidemics and health related concerns, which could result in closed factories, reduced workforces, scarcity of raw materials and scrutiny or embargoing of goods produced in infected areas, as well as reduced consumer traffic and purchasing, as consumers limit or cease shopping in order to avoid exposure or become ill; (v) the failure of the Company’s licensees to market successfully licensed products or to preserve the value of the Company’s brands, or their misuse of the Company’s brands and (vi) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.

The Company does not undertake any obligation to update publicly any forward-looking statement, whether as a result of the receipt of new information, future events or otherwise.

Contact:
Dana Perlman
212-381-3502
Treasurer and Senior Vice President, Business Development and Investor Relations
investorrelations@pvh.com

Source: PVH Corp.

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Stanley Black & Decker to acquire Craftsman brand from Sears Holdings

  • Stanley Black & Decker to develop, manufacture and sell Craftsman-branded products in non-Sears Holdings channels
  • Sears Holdings to continue sourcing and selling Craftsman-branded products in all its retail channels under perpetual license agreement
  • Agreement consists of $525 million cash payment at closing, $250 million at end of year three, and annual payments to Sears Holdings of between 2.5% and 3.5% on new Stanley Black & Decker sales of Craftsman products through year 15
  • Stanley Black & Decker to significantly increase availability and innovation of Craftsman products and add manufacturing jobs in the U.S. to support growth

NEW BRITAIN, Conn. and HOFFMAN ESTATES, Ill., 2017-Jan-07 — /EPR Retail News/ — Stanley Black & Decker (NYSE: SWK) (“Stanley Black& Decker” or “the company”), an S&P 500 global diversified industrial company, and Sears Holdings Corporation (NASDAQ: SHLD) (“Sears Holdings”), announced today ( Jan. 5, 2017) that they have entered into a definitive agreement under which Stanley Black& Decker will purchase the Craftsman brand from Sears Holdings.  The transaction provides Stanley Black& Decker with the rights to develop, manufacture and sell Craftsman-branded products in non-Sears Holdings retail, industrial and online sales channels across the U.S. and in other countries.  As part of the agreement, Sears Holdings will continue to offer Craftsman-branded products, sourced from existing suppliers, through its current retail channels via a perpetual license from Stanley Black& Decker, which will be royalty-free for the first 15 years after closing and royalty-bearing thereafter.  Today only approximately 10% of Craftsman-branded products are sold outside of Sears Holdings and the agreement will enable Stanley Black& Decker to significantly increase Craftsman sales in these untapped channels.

“Craftsman is a legendary, American brand with tremendous consumer awareness built on a legacy of producing quality products at a great value,” said Stanley Black& Decker President and CEO James M. Loree. “This agreement represents a significant opportunity to grow the market by increasing the availability of Craftsman products to consumers in previously underpenetrated channels.  We intend to invest in the brand and rapidly increase sales through these new channels, including retail, industrial, mobile and online. To accommodate the future growth of Craftsman, we intend to expand our manufacturing footprint in the U.S.  This will add jobs in the U.S., where we have increased our manufacturing headcount by 40% in the past three years.

“As we continue our growth trajectory as a diversified industrial company, we continue to look at opportunities to build upon our world-class portfolio of franchises and brands to create shareholder value.  This transaction, which aligns squarely with this strategy, also reflects an effective allocation of capital particularly when viewed in the context of the recently announced Mechanical Security sale.  We’ve essentially freed up capital trapped in a low-growth business to invest in organic growth and EPS accretion,” added Loree.

Sears Holdings’ Chairman and Chief Executive Officer Edward S. Lampert stated, “We are pleased to reach this agreement, after determining that externalizing the Craftsman brand would accomplish our goals of driving value for Sears Holdings and positioning Craftsman for future growth. This transaction represents a significant step in our ongoing transformation to a membership focused business model.  Craftsman has a storied history as an iconic American brand and in Stanley Black& Decker we have found a great owner that is committed to expanding Craftsman and helping it to reach its potential outside of its current channels. It’s important for our members to know that we will continue to sell Craftsman in-store and online at Kmart and Sears, and Sears Hometown, and the structure of the transaction will provide Sears Holdings with a significant upfront payment, another payment in three years and an opportunity to participate in the growth of the Craftsman brand in both our stores and at other retailers selected and managed by Stanley Black& Decker. Looking ahead, we will continue to take actions to adjust our capital structure, meet our financial obligations and manage our business to better position Sears Holdings to create long-term value by focusing on our best members, our best stores and our best categories.”

Transaction Terms

Stanley Black& Decker will pay Sears Holdings $525 million at closing, $250 million at end of year three, and annual payments on new Stanley Black& Decker Craftsman sales through year 15 (2.5% through 2020, 3% through January 2023, and 3.5% thereafter).  The net present value of all these cash payments is approximately $900 million.  The license granted to Sears Holdings will be royalty-free for 15 years, then 3% thereafter.

Existing sales of Craftsman products outside the Sears Holdings and Sears Hometown distribution channels, which will be assumed immediately upon closing by Stanley Black& Decker, were approximately $200 million over the last 12 months.  The company expects the sale of Craftsman branded products to contribute approximately $100 million of average annual revenue growth for approximately the next ten years.  The transaction is expected to be accretive to earnings by approximately $0.10-$0.15 per share in year one, increasing to approximately $0.35-$0.45 by year five and to approximately $0.70-$0.80 by year ten, excluding approximately $20 million of deal-related costs.

The transaction, which was approved by the Boards of Directors of both companies, is expected to close during 2017, subject to customary closing conditions and regulatory approvals.

Stanley Black& Decker will host a conference call with investors today, Thursday, January 5, 2017 at 09:00 am EST. A presentation which will accompany the call will be available at www.stanleyblackanddecker.com and will remain available after the call.

The call will be accessible by telephone at 1 (877) 930-8285 and from outside the U.S. at 1 (253) 336-8297 (Conference ID 46963043); also, via the Internet at www.stanleyblackanddecker.com. To listen, please go to the web site at least fifteen minutes early to register, download and install any necessary audio software. A replay will also be available two hours after the call and can be accessed at (855) 859-2056 or (404) 537-3406 by entering the Conference identification number 46963043. The replay will also be available as a podcast within 24 hours and can be accessed on our website and via iTunes.

Stanley Black& Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, mechanical access solutions and electronic security solutions, healthcare solutions, engineered fastening systems, and more. Learn more at www.stanleyblackanddecker.com.

Sears Holdings Corporation (NASDAQ: SHLD) is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve our members – wherever, whenever and however they want to shop. Sears Holdings is home to Shop Your Way®, a social shopping platform offering members rewards for shopping at Sears and Kmart as well as with other retail partners across categories important to them. The company operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with full-line and specialty retail stores across the United States. For more information, visit www.searsholdings.com.

Forward-Looking Statements

This press release contains forward-looking statements from Stanley Black& Decker or Sears Holdings which represent the respective company’s expectations or beliefs about future events and their respective financial performance. Forward-looking statements are identifiable by words such as “believe,” “anticipate,” “expect,” “intend,” “plan,” “will,” “may” and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Forward looking statements made in this press release, include, but are not limited to, statements concerning: the consummation of the purchase; investment in, and rapid increase in sales and innovation of products carrying the Craftsman brand; significantly increasing sales of Craftsman-branded products in untapped channels; expanding U.S. manufacturing footprint and adding jobs in the U.S.; the Craftsman brand complementing and expanding Stanley Black& Decker’s existing operations; revenue opportunities; and organic revenue growth and accretion to earnings per share.

You are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are not guarantees of future events and involve risks, uncertainties and other known and unknown factors that may cause actual results and performance to be materially different from any future results or performance expressed or implied by such forward-looking statements, including, but not limited to, the failure to consummate, or a delay in the consummation of, the transaction for various reasons; failure to successfully integrate the Craftsman brand and achieve expected revenue opportunities; the seller becoming insolvent or entering  bankruptcy proceedings; or the transaction-related costs and charges being greater than anticipated.

Forward-looking statements made herein are also subject to risks and uncertainties, described in the respective company’s: 2015 Annual Reports on Form 10-K; subsequently filed Quarterly Reports on Form 10-Q; and other filings made with the Securities and Exchange Commission. In addition, actual results could differ materially from those suggested by the forward-looking statements, and therefore you should not place undue reliance on the forward-looking statements. Neither Stanley Black& Decker nor Sears Holdings makes any commitment to revise or update any forward-looking statements made by it to reflect events or circumstances occurring or existing after the date of any of its forward-looking statements.

Stanley Black& Decker Contacts:
Investor Contacts:
Greg Waybright
Vice President, Investor Relations
greg.waybright@sbdinc.com
(860) 827-3833

Michelle Hards
Director, Investor Relations
michelle.hards@sbdinc.com
(860) 827-3913

Media Contacts:
Shannon Lapierre
Vice President, Communications/Public Relations
shannon.lapierre@sbdinc.com
(860) 827-3575

Tim Perra
Vice President, Communications
tim.perra@sbdinc.com
(860) 826-3260

Sears Holdings Contact:
Howard Riefs
Director, Corporate Communications
(847) 286-8371

SOURCE: Stanley Black& Decker

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Casino announces offer to acquire for cash all outstanding ordinary shares of Cnova

Paris, 2016-Dec-28 — /EPR Retail News/ — Casino, Guichard-Perrachon S.A. (“Casino”) today (December 27, 2016) announced that it has commenced an offer to acquire for cash all outstanding ordinary shares of Cnova, nominal value €0.05 per share (“Cnova ordinary shares”), in the United States (the “U.S. Offer”). Pursuant to the U.S. Offer, Casino is offering to acquire all outstanding Cnova ordinary shares held by holders of Cnova ordinary shares resident in the United States (“U.S. holders”) for $5.50 per share, net to the holder in cash, without interest, less any applicable withholding taxes (the “U.S. Offer Price”). The U.S. Offer is being made pursuant and subject to the terms contained in the offer to purchase (the “Offer to Purchase”) and related letter of transmittal (the “Letter of Transmittal”), to be filed by Casino with the U.S. Securities Exchange Commission (the “SEC”) later today as exhibits to a tender offer statement on Schedule TO.

Casino has filed a concurrent offer in France with the French Autorité des marches financiers (AMF) (the “French Offer” and, together with the U.S. Offer, the “Offers”). The price to be paid pursuant to the French Offer will be an equivalent amount in euros calculated using the WM/Reuters spot exchange rate for euros per U.S. dollar at 5:00 p.m. Paris time on the first French business day following expiration of the French Offer. Information relating to the French Offer is available on the website of the AMF (www.amf-france.org), Casino (www.groupe-casino.fr) and Cnova (www.cnova.com).

The U.S. Offer may only be accepted by and is solely open to U.S. holders. Non-U.S. holders of Cnova ordinary shares who are permitted to participate in the French Offer pursuant to the local laws and regulations applicable to those holders may tender their Cnova ordinary shares only into the French Offer.

The U.S. Offer will expire at 5:00 PM, New York City time, on Wednesday, January 25, 2017 (the “Expiration Date”), unless Casino elects to extend the period of time during which the U.S. Offer is open, in which event the Expiration Date shall be the latest time and date at which the U.S. Offer, as extended, expires. Casino intends that the U.S. Offer and the French Offer will expire on the same day.

The Offers are made in connection with the reorganization of Cnova’s former Brazilian subsidiary within Via Varejo S.A., which was completed on October 31, 2016 (the “Reorganization” and, together with the Offers, the “Transactions”). The Cnova transaction committee and Cnova board of directors fully support the Offers and recommend that holders of Cnova ordinary shares accept the Offer and tender their Cnova ordinary shares.

Casino believes the U.S. Offer is attractive to holders of Cnova ordinary shares because, among other things, the price to be paid in the Offers implies a premium of:

 82% over the closing price for Cnova ordinary shares on NASDAQ on April 27, 2016 of US$3.03, the trading day immediately prior to the first public reports of the potential offer;

 62% over the closing price for Cnova ordinary shares on NASDAQ on May 11, 2016, the day immediately preceding the announcement of entry into a non-binding memorandum of understanding with respect to the Transactions; and

 105% over the average closing price for Cnova ordinary shares on NASDAQ on trading days for the six-month period ended May 11, 2016.

The U.S. Offer is not subject to any conditions and pursuant to an agreement between Casino and Cnova, Casino may not withdraw the U.S. Offer.

Disclaimer This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. No representation or warranty, either express or implicit, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for exercise of their own judgment. All opinions expressed herein are subject to change without notice.

This document contains certain forward-looking statements. This information is not historical data and should not be interpreted as guarantees of the future occurrence of such facts and data. These statements are based on data, assumptions and estimates that the Group believes are reasonable. The Group operates in a competitive and rapidly changing environment. It is therefore not in a position to predict all of the risks, uncertainties or other factors that may affect its business, their potential impact on its business, or the extent to which the occurrence of a risk or a combination of risks could have results that are significantly different from those included in any forward-looking statement. The forward-looking statements contained in this press release are made only as of the date hereof. Except as required by any applicable law, rules or regulations, the Group expressly disclaims any obligation or undertaking to publicly release any updates of any forward looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which any forward-looking statement contained in this press release is based

ANALYST AND INVESTOR CONTACTS:
Régine GAGGIOLI
Tel: +33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fr
+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr

PRESS CONTACTS:
GROUPE CASINO
Tél : +33 (0)1 53 65 24 78
directiondelacommunication@groupe-casino.fr

AGENCE IMAGE SEPT:
Simon ZAKS
Tél : +33 (0)6 60 87 50 29
szaks@image7.fr

Karine ALLOUIS
Tél : + 33 (0)6 11 59 23 26
kallouis@image7.fr

Source: Casino

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Lenta to acquire Kesko’s K-Ruoka brand food retail business in Russia

St. Petersburg, Russia, 2016-Oct-27 — /EPR Retail News/ — Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, and Kesko are pleased to announce they have reached an agreement under which Lenta will acquire Kesko’s food retail business in Russia (“KFR”), currently operating under the K-Ruoka brand.

Assets acquired
KFR consists of 10 hypermarkets and one supermarket operating under the K-Ruoka brand in Saint-Petersburg and the Leningradskiy region, as well as three land plots in Moscow and the Leningradskiy regions. Most of the hypermarkets were opened in 2012-2015 and two stores were opened during 2016. Total selling space of the acquired stores is around 42.5k sq.m, of which around 40.2k sq.m are owned and around 2.3k sq.m are rented. The stores are compatible in terms of size and layout with existing Lenta compact and supercompact hypermarket formats, and almost all of the store locations are complementary to Lenta’s existing stores in Saint-Petersburg and the Leningradskiy region. The high proportion of owned stores is in line with Lenta’s store ownership strategy. The KFR business and assets are owned by six legal entities which will be purchased as part of the transaction.

Lenta’s Chief Executive Officer, Jan Dunning said:

“We are very pleased to have reached an agreement with Kesko to acquire their business in Russia. While Lenta remains primarily focused on its successful organic expansion, we welcome opportunities to augment this by acquiring high quality assets such as the Kesko stores.

The stores all have excellent urban strategic locations and are complementary to Lenta’s existing network. They have a strong team of well-trained store staff who we look forward to welcoming into the Lenta family. Completion of the acquisition will significantly strengthen Lenta’s network in Saint-Petersburg, giving many more customers the opportunity to shop at a Lenta store close to their homes. Upon the completion of integration the stores will operate under the Lenta brand.”

Purchase price
According to the agreement the aggregate transaction consideration is Rub 11.0bn.

Closing, approvals and financing
The transaction has been approved by the Lenta and Kesko Boards, no further internal approvals are necessary. The transaction is expected to close on November 30, 2016 subject to fulfilment of the other terms and conditions and approval by Federal Antimonopoly Service of the Russian Federation (“FAS Russia”). The acquisition will be financed using Lenta’s existing cash and available undrawn long-term loan facilities.

Lenta will provide more details and revised guidance upon completion of the acquisition.

About Lenta
Lenta is the largest hypermarket chain in Russia (in terms of selling space) and the country’s fifth largest retail chain (in terms of 2015 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 156 hypermarkets in 72 cities across Russia and 42 supermarkets in Moscow and St. Petersburg, with a total of approximately 968,595 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 6,000 sq.m. The average Lenta supermarket store has selling space of approximately 1,000 sq.m. The Company operates six owned hypermarket distribution centres.

The Company’s price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 34,134 people as of 30 June 20161.

The Company’s management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta’s largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: ‘LNTA’.

A brief video summary on Lenta’s business and its Big Data initiative can be seen here.

For further information please visit www.lentainvestor.com, or contact:

Lenta
Anna Meleshina,
Public Relations & Government Affairs Director
Tel: +7 812 363 28 53
E-mail: anna.meleshina@lenta.com

Anastasia Kuznetsova,
Corporate Communications Manager
Тel:+7 (812) 336 39 97
E-mail: a.kuznetsova@lenta.com

Citigate
International Media:
David Westover and Marina Zakharova
Тel: +44 207 282 2886
E-mail: lentateam@citigatedr.co.uk

FTI Consulting
Russian Media:
Anton Karpov & Victoria Afonina
Тel:+7 495 795 06 23
E-mail: lenta@FTIconsulting.com

Source: Lenta

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Hannaford Supermarkets to acquire the Bud’s Shop ‘n Save stores in Newport and Dexter

SCARBOROUGH, Maine, 2016-Oct-19 — /EPR Retail News/ — Hannaford Supermarkets has reached an agreement to purchase the Bud’s Shop ‘n Save stores in Newport and Dexter.

Bud’s has been a wholesale customer of Hannaford for 63 years and carries a wide array of Hannaford-brand items. The transaction is expected to be complete in early December. Dean Homstead, owner of Bud’s, will continue to own and operate the Bud’s Shop ‘n Save store in Pittsfield, 101 Somerset Plaza.

“Bud’s Shop ‘n Save in Newport and Dexter would like to thank the surrounding communities for their patronage during these past 63 years,” Homstead said. “We also thank our associates for their dedication and commitment, which has been the foundation for our success.”

Hannaford does not anticipate significant changes at the stores. Both are full-service grocery stores.

“Hannaford is pleased to have the opportunity to serve customers in Newport, Dexter and surrounding communities,” said Todd Bullen, a director of operations for Hannaford. “We have been proud to support these stores as a wholesale supplier for many years and we look forward to serving customers with a familiar team, local products and Hannaford-brand items.”

As a company, Hannaford is committed to partnering with local communities, through ongoing food donations to hunger relief, involvement with school and civic groups, and contributions to local charities.

The Newport location, Newport Plaza at 44 Moosehead Trail, is 32,600-square-foot store. The Dexter location, 37 Church Street, is a 24,500-square-foot store.

About Hannaford Supermarkets
Hannaford Supermarkets, based in Scarborough, Maine, operates 179 stores in the Northeast. Stores are located in Maine, New York, Massachusetts, New Hampshire, and Vermont. Hannaford employs more than 26,000 associates. Additional information can be found at www.hannaford.com.

Contact:  
Eric Blom
207-885-3132

Source: Hannaford Supermarkets

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eBay to acquire visual search technologies pioneer Corrigon Ltd

eBay to acquire visual search technologies pioneer Corrigon Ltd
eBay to acquire visual search technologies pioneer Corrigon Ltd

 

San Jose, California, 2016-Oct-07 — /EPR Retail News/ — eBay has signed an agreement to acquire Corrigon Ltd., a pioneer of visual search technologies. Corrigon helps identify objects within an image, matching both visual and textual elements to ensure that the image is recognized, correctly classified and best-matched to its corresponding product. With more than one billion live listings on eBay’s platform, Corrigon’s expertise and technology will help match the best images to their products so that shoppers can be confident that what they buy is exactly what they see.  Corrigon is the third acquisition in 2016 to further bolster eBay’s structured data efforts, following the acquisitions of SalesPredict and Expertmaker.  Financial terms of the deal were not disclosed.

Corrigon brings deep experience in image processing and computer vision to eBay.  Specifically, Corrigon’s technology and expertise will contribute to eBay’s efforts with image recognition, classification and image enhancements as part of its structured data initiative. There are three parts to eBay’s structured data initiative: first, collect the data; second, process and enrich the data; and third, create product experiences. Corrigon will support the second and third parts – processing and enriching the data and creating product experiences.

“As we continue to evolve the eBay shopping experience, Corrigon’s technology and expertise will help buyers find the best results when shopping on eBay through experiences that were not possible a year ago, before our investments in structured data,” said Amit Menipaz, Vice President and General Manager of Structured Data at eBay. “Corrigon represents eBay’s third acquisition in the structured data space this year, further underscoring our commitment to powering deeper inventory insights for our sellers and compelling new user experiences for our buyers.”

“Corrigon’s state-of-the art visual search technology enables fine grained product detection within images. We look forward to applying our expertise and technology to eBay’s platform, which has more than a billion product images,” said Avinoam Omer, co-founder and CEO of Corrigon.  “Working in partnership with eBay’s structured data team, we will help eBay sellers list more efficiently and eBay buyers find what they are looking for faster in order to increase customer sales conversions.”

Upon the close of the transaction, the Corrigon team will join eBay’s structured data organization and will be based in eBay’s Israeli Development Center in Netanya.

Corrigon was co-founded in 2008 by Avinoam Omer and Einav Itamar.  Prior to Corrigon, Omer founded Zoomix (acquired by Microsoft), which developed machine learning technology for data quality and master data management and, before that, DataChase.

Contact:

United States: press@ebay.com
Canada: canada.press@ebay.com

Source: eBay

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Weis Markets to acquire location and assets of Nell’s Family Market in East Berlin, PA from C&S Wholesale Grocers

Sunbury, PA, 2016-Oct-07 — /EPR Retail News/ — Weis Markets today (October 5, 2016) announced plans to purchase the location and assets of Nell’s Family Market of East Berlin LLC in East Berlin, PA from C&S Wholesale Grocers. This purchase of the grocery store located at 30 Primrose Lane in East Berlin, Pa. will be completed at the end of October and an early November reopening is planned.

This store and pharmacy will remain open in the weeks prior to the finalization of the purchase in late October. As part of this transition, Weis Markets plans to interview current employees of the East Berlin store whom are interested in employment at Weis Markets.

“This is a great store, with an excellent reputation for customer service. This purchase will allow us to increase our market presence in Adams County,” said Kurt Schertle, Weis Markets’ Chief Operating Officer. “As part of this process, we’re interested in interviewing Nell’s associates for employment at our company since they’ve helped make this store successful. We look forward to talking to them.”

This is Weis Markets’ second acquisition of a Nell’s location. Last year, the Company purchased and converted a Nell’s Family Market in Hanover and reopened the store on September 15, 2015. It subsequently remodeled the store in 2016.

About Weis Markets

Founded in 1912, Weis Markets, Inc. is a Mid Atlantic food retailer operating 182 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia. For more information, please visit: WeisMarkets.com or Facebook.com/WeisMarkets.

About C&S Wholesale Grocers

C&S Wholesale Grocers, Inc., based in Keene, NH, is the largest wholesale grocery supply company in the U.S. and the industry leader in supply chain innovation. Founded in 1918 as a supplier to independent grocery stores, C&S now services customers of all sizes, supplying more than 6,500 independent supermarkets, chain stores, military bases, and institutions with over 170,000 different products.

Contact:

1000 South Second Street
PO Box 471
Sunbury, Pennsylvania 17801
1-866-999-9347

Source: Weis Markets, Inc.

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Bass Pro Shops to acquire Cabela’s for $5.5 billion

SPRINGFIELD, Mo. & SIDNEY, Neb., 2016-Oct-04 — /EPR Retail News/ — Bass Pro Shops and Cabela’s Incorporated (NYSE:CAB), two iconic American outdoor companies with similar humble origins, and with a shared goal to better serve those who love the outdoors, today (Oct. 3, 2016) announced that they have entered into a definitive agreement under which Bass Pro Shops will acquire Cabela’s for $65.50 per share in cash, representing an aggregate transaction value of approximately $5.5 billion.

In addition, upon closing Bass Pro Shops will commence a multi-year partnership agreement with Capital One, National Association, a wholly-owned national banking subsidiary of Capital One Financial Corporation (NYSE: COF), under which Capital One will originate and service the Cabela’s CLUB, Cabela’s co-branded credit card, and Bass Pro Shops will maintain a seamless integration between the credit card program and the combined companies’ retail operations and deep customer relationships. All Cabela’s CLUB points and Bass Pro Shops Outdoor Rewards points will be unaffected by the transactions and customers can continue to use their credit cards as they were prior to the transaction. Capital One intends to continue to operate the Cabela’s CLUB servicing center in Lincoln, Nebraska.

A driving force behind this agreement is the highly complementary business philosophies, product offerings, expertise and geographic footprints of the two businesses. The essence of both Bass Pro Shops and Cabela’s is a deep passion to serve outdoor enthusiasts and support conservation. The combination brings together three of the nation’s premier sporting brands: Cabela’s, a leader in hunting; Bass Pro Shops, a leader in fishing; and White River Marine Group, a worldwide leader in boating, which is part of Bass Pro Shops.

Bass Pro Shops, Cabela’s and White River Marine Group represent the best of American entrepreneurship, innovation and devotion to customers. The combined companies will strive to provide a remarkably enhanced experience for customers, increased opportunities for team members and greater support for conservation activities.

CABELA’S

Founded in 1961 by Dick, Mary and Jim Cabela, Cabela’s is a highly respected marketer of hunting, fishing, camping, shooting sports and related outdoor merchandise. Today, Cabela’s has over 19,000 “outfitters” operating 85 specialty retail stores, primarily in the western U.S. and Canada. Cabela’s stores, catalog business and e-commerce operations will blend seamlessly with Bass Pro Shops andWhite River Marine Group. Over the past 55 years Cabela’s has built a passionate and loyal base of millions of enthusiasts who shop both at its retail stores and online.

BASS PRO SHOPS

Bass Pro Shops, founded in 1972 by avid young angler Johnny Morris, is a leading national retailer of outdoor gear and apparel, with 99 stores and Tracker Marine Centers located primarily in the eastern part of the U.S. and Canada. Morris started the business with eight square feet of space in the back of his father’s liquor store in Springfield, Mo., the company’s sole location for the first 13 years of business. Johnny’s passion for the outdoors and his feel for the products and shopping experiences desired by outdoor enthusiasts helped transform the industry. Bass Pro Shops, which employs approximately 20,000 team members, has been named by Forbes as one of “America’s Best Employers.” The company also operates Big Cedar Lodge, America’s Premier Wilderness Resort, welcoming more than one million guests annually to Missouri’s Ozark Mountains.

WHITE RIVER MARINE GROUP

In 1978, Morris revolutionized the marine industry when he introduced the world’s first professionally rigged and nationally marketed boat, motor and trailer packages. Tracker quickly became and has remained the number one selling fishing boat brand in America for the last 37 years running. White River Marine Group offers an unsurpassed collection of industry-leading brands including Tracker Boats, Sun Tracker, Nitro, Tahoe, Regency, Mako, Ranger, Triton and Stratos.

MANAGEMENT COMMENTARY

“Today’s announcement marks an exceptional opportunity to bring together three special companies with an abiding love for the outdoors and a passion for serving sportsmen and sportswomen,” said Johnny Morris, founder and CEO of Bass Pro Shops. “The story of each of these companies could only have happened in America, made possible by our uniquely American free enterprise system. We have enormous admiration for Cabela’s, its founders and outfitters, and its loyal base of customers. We look forward to continuing to celebrate and grow the Cabela’s brand alongside Bass Pro Shops and White River as one unified outdoor family.”

“Cabela’s is pleased to have found the ideal partner in Bass Pro Shops,” said Tommy Millner, Cabela’s Chief Executive Officer. “Having undertaken a thorough strategic review, during which we assessed a wide variety of options to maximize value, the Board unanimously concluded that this combination with Bass Pro Shops is the best path forward for Cabela’s, its shareholders, outfitters and customers. In addition to providing significant immediate value to our shareholders, this partnership provides a unique platform from which our brand will be extremely well positioned to continue to serve outdoor enthusiasts worldwide for generations to come.”

“This opportunity would not be possible without the contributions of the many wonderful Cabela’s,Bass Pro Shops and White River team members,” Morris said. “All three companies are blessed to have been built by the extraordinary efforts of many tremendously talented, dedicated people throughout our respective histories, and we’re thrilled to consider what the combined team can achieve going forward.”

Following the closing of the transaction, Bass Pro Shops intends to celebrate and grow the Cabela’s brand and will build on qualities that respective customers love most about Cabela’s and Bass Pro Shops. In addition, Bass Pro Shops recognizes the strength of Cabela’s CLUB Loyalty program and intends to honor Cabela’s customer rewards and sees potential over time to expand the program in the combined company.

Bass Pro Shops appreciates and understands the deep ties between Cabela’s and the community of Sidney, Nebraska. Dick, Mary and Jim Cabela founded their company in Sidney in 1961, and the company has flourished with its base of operations there ever since. Bass Pro Shops intends to continue to maintain important bases of operations in Sidney and Lincoln and hopes to continue the very favorable connections to those communities and the Cabela’s team members residing there.

Bass Pro Shops Founder and CEO Johnny Morris will continue as CEO and majority shareholder of the new entity, which will remain a private company with a continuing long-term view of supporting the industry and conservation. Morris earned a reputation as a leading retailer and conservationist. In 2008, the National Retail Federation named him as Retail Innovator of the Year. In 2015, the same organization named him as one of 25 People Shaping the Future of Retail in America. In 2012, The Association of Fish and Wildlife Agencies named Morris Citizen Conservationist of the Year.

“Conservation is at the heart and soul of Bass Pro Shops. Bass Pro Shops and Cabela’s share a steadfast belief that the future of our industry, and the outdoor sports we all love, depends – more than anything else – on how we manage our natural resources,” said Morris. “By combining our efforts, we can have a profound positive impact on the conservation challenges of our day and help foster the next generation of outdoor enthusiasts.”

PREFERRED FINANCING

Bass Pro Shops is proud to have secured preferred equity financing from the Merchant Banking Division of Goldman Sachs and Pamplona to facilitate the transaction. Goldman Sachs has committed$1.8 billion and Pamplona has committed $600 million for a total preferred financing commitment of$2.4 billion.

The Merchant Banking Division of Goldman Sachs is one of the leading private equity investors in the world, focusing on assisting large, high-quality companies with best-in-class management teams to achieve their growth objectives. The division brings significant experience and a strong track record of success in supporting industry-leading founder-led businesses. Pamplona Capital Management is aNew York and London based specialist investment manager established in 2005. Pamplona is currently managing its fourth private equity fund, Pamplona Capital Partners IV, LP, which was raised in 2014. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.

TRANSACTION DETAILS

The transaction provides Cabela’s shareholders with a premium of 19.2% to Cabela’s closing share price on Sep. 30, 2016, the day prior to announcement of the transaction, 39.7% to the closing share price on Dec. 1, 2015, the day before Cabela’s announced its exploration of strategic alternatives and 57.1% to the 90-day volume weighted trading average prior to Dec. 1, 2015. Immediately prior to closing, Capital One will acquire certain assets and assume certain liabilities of Cabela’s World’sForemost Bank. The cash proceeds from this transaction will remain with Cabela’s until it is acquired by Bass Pro Shops.

The transaction agreements were unanimously approved by Cabela’s Board of Directors following a comprehensive review of strategic and financial alternatives.

The transaction, which is expected to close in the first half of 2017, will be completed through a cash merger and is subject to approval by Cabela’s shareholders, as well as regulatory approvals and other customary closing conditions.

J.P. Morgan served as exclusive financial advisor to Bass Pro Shops and Latham & Watkins served as Bass Pro Shops’ legal counsel, with expert assistance from O’Melveny & Myers. Goldman, Sachs & Co.served as financial advisor to The Merchant Banking Division of Goldman Sachs and Davis Polk & Wardwell LLP served as legal advisor. Goldman, Sachs & Co. also served as advisor to Bass Pro Shops on the bank transaction, and Morrison & Foerster served as legal counsel. BofA Merrill Lynch,Wells Fargo Securities LLC, Citigroup Global Markets Inc., RBC Capital Markets, UBS Securities LLC, and Goldman Sachs are providing debt financing to support the transaction.

Guggenheim Securities served as exclusive financial advisor to Cabela’s and Sidley Austin LLP and Koley Jessen P.C., L.L.O. served as Cabela’s legal counsel.

The Kessler Group and Credit Suisse acted as financial advisers to Capital One and Wachtell, Lipton, Rosen & Katz and Chapman and Cutler acted as legal advisers.

ADDITIONAL INFORMATION REGARDING THE TRANSACTION AND WHERE TO FIND IT

This communication does not constitute an offer to sell or the solicitation of an offer to buy the securities of Cabela’s Incorporated (the “Company”) or the solicitation of any vote or approval. This communication is being made in respect of the proposed merger transaction involving the Company,Bass Pro Group, LLC (“Bass Pro Group”) and a wholly-owned subsidiary of Bass Pro Group. The proposed merger of the Company will be submitted to the stockholders of the Company for their consideration. In connection therewith, the Company intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), including a definitive proxy statement. However, such documents are not currently available. The definitive proxy statement will be mailed to the stockholders of the Company. BEFORE MAKING ANY VOTING OR ANY INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders may obtain free copies of the definitive proxy statement, any amendments or supplements thereto and other documents containing important information about the Company, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by the Company will be available free of charge on the Company’s website at www.cabelas.com under the heading “SEC Filings” in the “Investor Relations” portion of the Company’s website. Stockholders of the Company may also obtain a free copy of the definitive proxy statement and any filings with the SEC that are incorporated by reference in the definitive proxy statement by contacting the Company’s Investor Relations Department at (308) 255-7428.

PARTICIPANTS IN THE SOLICITATION

The Company and its directors, executive officers and certain other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of the Company is set forth in its Annual Report on Form 10-K for the fiscal year ended January 2, 2016 and Amendment No. 1 thereto, which were filed with the SEC on February 22, 2016 and April 29, 2016, respectively, and in subsequent documents filed with the SEC, each of which can be obtained free of charge from the sources indicated above. Other information regarding the participants in the proxy solicitation of the stockholders of the Company and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the preliminary and definitive proxy statements and other relevant materials to be filed with the SEC when they become available.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This document contains “forward-looking statements” that are based on the Company’s beliefs, assumptions, and expectations of future events, taking into account the information currently available to the Company. All statements other than statements of current or historical fact contained in this report are forward-looking statements. The words “believe,” “may,” “should,” “anticipate,” “estimate,” “expect,” “intend,” “objective,” “seek,” “plan,” “confident,” and similar statements are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause the Company’s actual results, performance, or financial condition to differ materially from the expectations of future results, performance, or financial condition the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the satisfaction of the conditions precedent to the consummation of the proposed merger, including, without limitation, the receipt of stockholder and regulatory approvals; unanticipated difficulties or expenditures relating to the proposed merger; legal proceedings, judgments or settlements, including those that may be instituted against the Company, the Company’s board of directors, executive officers and others following the announcement of the proposed merger; disruptions of current plans and operations caused by the announcement and pendency of the proposed merger; potential difficulties in employee retention due to the announcement and pendency of the proposed merger; the response of customers, suppliers, business partners and regulators to the announcement of the proposed merger; the state of the economy and the level of discretionary consumer spending, including changes in consumer preferences, demand for firearms and ammunition, and demographic trends; adverse changes in the capital and credit markets or the availability of capital and credit; the Company’s ability to successfully execute the Company’s omni-channel strategy; increasing competition in the outdoor sporting goods industry and for credit card products and reward programs; the cost of the Company’s products, including increases in fuel prices; the availability of the Company’s products due to political or financial instability in countries where the goods the Company sells are manufactured; supply and delivery shortages or interruptions, and other interruptions or disruptions to the Company’s systems, processes, or controls, caused by system changes or other factors; increased or adverse government regulations, including regulations relating to firearms and ammunition; the Company’s ability to protect the Company’s brand, intellectual property, and reputation; the Company’s ability to prevent cybersecurity breaches and mitigate cybersecurity risks; the outcome of litigation, administrative, and/or regulatory matters (including the ongoing audits by tax authorities and compliance examinations by the Federal Deposit Insurance Corporation (“FDIC”)); the Company’s ability to manage credit, liquidity, interest rate, operational, legal, regulatory capital, and compliance risks; the Company’s ability to increase credit card receivables while managing credit quality; the Company’s ability to securitize the Company’s credit card receivables at acceptable rates or access the deposits market at acceptable rates; the impact of legislation, regulation, and supervisory regulatory actions in the financial services industry; and other risks, relevant factors, and uncertainties identified in the Company’s filings with the Securities and Exchange Commission (“SEC”) (including the information set forth in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended January 2, 2016, and in Part II, Item 1A, of the Company’s Quarterly Report on Form 10-Q for the first quarter ended April 2, 2016), and in subsequent filings, which filings are available at the SEC’s website at www.sec.gov. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. The Company’s forward-looking statements speak only as of the date of this document. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.

MEDIA:
Bass Pro Shops Media Center
417-873-4567
press@basspro.com

Sard Verbinnen & Co
Bryan Locke / Debbie Miller / Jacob Crows
312-895-4700

Emily Deissler
212-687-8080

Cabela’s Incorporated
Corporate Communications
308-255-1204
Media.Communications@cabelas.com

Joele Frank, Wilkinson Brimmer Katcher
Michael Freitag / Scott Bisang
212-355-4449

Jed Repko / Joe Millsap
415-869-3950

INVESTOR:
Cabela’s Incorporated
Andrew Weingardt
308-255-7428

Source: Cabela’s Incorporated

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US Foods to acquire Italian specialty distributor Jeraci Foods

Rosemont, Ill., 2016-Oct-03 — /EPR Retail News/ — US Foods today (Sep 30, 2016) announced that it has agreed to acquire Jeraci Foods, an Italian specialty distributor based in Elmsford, New York.

Family owned since 1972, Jeraci Foods offers a complete line of authentic Italian and other imported and domestic food products to customers throughout the metro New York area. With more than $26 million in sales annually, Jeraci will enhance US Foods’ penetration in the Italian independent restaurant and pizzeria segment.

The Jeraci Foods location will remain open through the end of the year to ensure a smooth transition, after which the business will shift to the US Foods location in Perth Amboy, New Jersey.

“As a family owned business Jeraci Foods has built a strong reputation for great customer service and high quality food,” said Chuck Gannon, area president, US Foods. “At US Foods, we pride ourselves on those same characteristics and look forward to bringing an even more robust product offering to Jeraci customers.”

The transaction is expected to close on October 7. Terms of the acquisition were not disclosed.

About US Foods

US Foods is one of America’s great food companies and a leading foodservice distributor, partnering with approximately 250,000 chefs, restaurateurs and foodservice operators to help their businesses succeed. With nearly 25,000 employees and more than 60 locations, US Foods provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. US Foods is headquartered in Rosemont, Ill. and generates approximately $23 billion in annual revenue. Discover more at www.usfoods.com.

Contact:

Lisa Lecas
Corporate Communications, US Foods
Office: 847-720-8243
Lisa.Lecas@usfoods.com

Source: US Foods