7‑Eleven closes the acquisition of 1,030 Sunoco convenience stores

Store count grows to 9,700 in the U.S. and Canada

IRVING, TEXAS, 2018-Jan-26 — /EPR Retail News/ — 7‑Eleven, Inc., the premier name and largest chain in the convenience-retailing industry, today (Jan. 23, 2017) announced that it has closed on the acquisition of approximately 1,030 Sunoco convenience stores located in 17 states. This acquisition is the largest in 7‑Eleven, Inc. history and will bring the total number of stores to approximately 9,700 in the U.S. and Canada.

“Part of what makes brand 7‑Eleven so iconic is our global presence and our continued growth,” said Joe DePinto, 7‑Eleven President and Chief Executive Officer. “The acquisition of over 1,000 Sunoco stores supports our accelerated growth strategy, and we look forward to serving these great new customers.”

The APlus, Laredo Taco, Ladson Grill and Stripes brands will continue to serve customers as the acquisition is completed.

Seven & i Holdings Co., Ltd., the parent company of 7‑Eleven, Inc., operates more than 65,000 stores in 18 countries globally.

About 7‑Eleven, Inc.
7‑Eleven, Inc. is the premier name and largest chain in the convenience-retailing industry. Based in Irving, Texas, 7‑Eleven® operates, franchises and/or licenses more than 65,000 stores in 18 countries, including 11,600 in North America. Known for its iconic brands such as Slurpee®, Big Bite® and Big Gulp®, 7‑Eleven has expanded into high-quality salads, side dishes, cut fruit and protein boxes, as well as pizza, chicken wings, cheeseburgers and hot chicken sandwiches. 7‑Eleven offers customers industry-leading private-brand products under the 7-Select® brand including healthy options, decadent treats and everyday favorites, at an outstanding value. Customers also count on 7‑Eleven for bill payments, self-service lockers and other convenient services. Find out more online at www.7‑Eleven.com, via the 7Rewards® customer-loyalty platform on the 7‑Eleven mobile app, or on social media at FacebookTwitter and Instagram.

Contact:

7‑Eleven, Inc.
Corporate Communications
media@7-11.com

Source: 7‑Eleven, Inc.

SUPERVALU completes the acquisition of Associated Grocers of Florida for $193 million

MINNEAPOLIS, 2017-Dec-12 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today (Dec. 8, 2017) announced it has completed the previously announced acquisition of Associated Grocers of Florida, Inc. in a transaction valued at approximately $193 million. Associated Grocers of Florida adds a dynamic grocery wholesaler to SUPERVALU’s growing national distribution network with annual sales of approximately $650 million in its last fiscal year as estimated under SUPERVALU’s accounting policies. This acquisition marks the second completed acquisition of 2017 for SUPERVALU as the Company continues to strategically invest in growing its wholesale business.

“The addition of Associated Grocers of Florida is another important step on our journey to becoming the wholesaler of choice for grocery retailers,” said Mark Gross, SUPERVALU’s President and Chief Executive Officer. “AG of Florida has a tremendous retailer base across central and south Florida and we’ll immediately gain a vibrant group of customers as well as an ability to expand internationally with AG’s customers in territories that include the Caribbean, and Central and South America.”

Gross continued, “I’m also thrilled that Christopher Miller, AG’s former president, will continue with us in a similar role as president of SUPERVALU Florida going forward. Chris has built a great team and we’re very excited that they’re now a part of our SUPERVALU family. Between the Unified Grocers and AG of Florida acquisitions, we’ve added substantial talent that will help us meet the rapidly changing needs of the markets we serve, including the growing specialty, organic, Latino and Hispanic markets.”

About SUPERVALU INC.
(The following information on sales, store counts and employees is as of SUPERVALU’s last fiscal quarter end and does not include AG of Florida)

SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $16 billion. SUPERVALU serves customers across the United States through a network of 3,337 stores composed of 3,120 stores operated by wholesale customers serviced primarily by SUPERVALU’s food distribution business and 217 traditional retail grocery stores operated under five retail banners in six geographic regions (store counts as of September 9, 2017). Headquartered in Minnesota, SUPERVALU has approximately 31,000 employees.

Founded in 1945, Associated Grocers of Florida, Inc. is a wholesale grocery distributor that supplies full lines of groceries and general merchandise to independent retailers and regional chains throughout Florida, Central America, South America and Caribbean countries.

For more information about SUPERVALU visit www.supervalu.com.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

Maxima Grupe announces negotiations for the acquisition of Emperia Holding S.A.

Vilnius, Lithuania, 2017-Nov-14 — /EPR Retail News/ — Maxima Grupe, UAB has started negotiations over acquisition of Emperia Holding S.A., the owner of Stokrotka retail chain. Stokrotka network was composed of 410 stores at the end of October, and the consolidated turnover of Emperia Holding S.A. group of the year 2016 was 2451 mill. PLN.

“Expansion in Poland by acquiring operating retail chain is a logical and consistent step that Maxima Grupe takes. We operate in this market since 2012 by owning retail chain Aldik. If negotiations were successful, Maxima Grupe would make a tender offer to acquire shares of Emperia Holding S.A. and all shareholders would be able to respond to it.” – comments Petras Jašinskas, chairman of the board at Maxima Grupe.”

At the moment “Maxima Grupė” controls retail chains under the names “Maxima” (in Baltics states), “Aldik” (in Poland), “T-Market” (in Bulgaria) and an electronic online shop of food and daily consumer goods “Barbora”. In 2016 consolidated turnover of “Maxima Grupė” amounted 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

Office Depot completes the acquisition of CompuCom Systems, Inc. and announces Q3 2017 results

  • Acquisition Combines World-Class IT Service Capabilities, Extensive Customer Base and Nationwide Footprint to Create a Powerful Omnichannel Growth Opportunity
  • Strengthens Core Business Through Immediate Cross-Selling Opportunities and Ability to Become a One-Stop Destination for Business Products and Services
  • Q3 2017 GAAP EPS from Continuing Operations of $0.19
  • Strong 2017 YTD Operating Cash Flow (1) in Excess of $400 Million
  • Plans to Host Investor Day in Early 2018 to Further Highlight New Strategic Direction

BOCA RATON, Fla., 2017-Nov-11 — /EPR Retail News/ — Office Depot, Inc. (“Office Depot,” or the “company”) (NASDAQ: ODP), a leading provider of office supplies, business products and services delivered through an omnichannel platform, today (November 9, 2017) announced the completion of the CompuCom Systems, Inc. (“CompuCom”) acquisition and results for the third quarter ended September 30, 2017, as well as highlights of the company’s new strategic direction. Office Depot will provide further detail on the company’s performance and strategy to become a services-driven company during its earnings conference call.

“I’m pleased that we were able to deliver strong cash flow in the third quarter as well as operating results that were in line with our updated outlook,” said Gerry Smith, chief executive officer of Office Depot. “Today also marks an important milestone as we have taken several important steps on a longer-term journey to transform Office Depot from a traditional provider of primarily office products into a broader product and business services platform. This transformation will leverage our stores, online presence and sales force to create a unique omnichannel platform that offers services, products and solutions focused on businesses of all sizes while generating recurring revenue growth.”

“It is imperative we start this journey now. The first step in this transformation was the strategic acquisition of CompuCom, which adds award-winning, enterprise managed workplace services capabilities to our portfolio. This acquisition was quickly followed by the launch earlier this week of BizBox, our new business services platform focused on small and medium-sized business owners. These are key building blocks to deepening our customer relationships and realizing our vision of becoming a services-driven company. Since I joined the company earlier this year, we have been creating the strategy and starting to make the necessary investments in people and capabilities to execute our plan and unlock the value of the new Office Depot.”

Consolidated Results

Reported (GAAP) Results

Total reported sales for the third quarter of 2017 were $2.6 billion compared to $2.8 billion in the third quarter of 2016, a decrease of 8%. Third quarter sales include the negative impact on both the Retail and Business Solutions Divisions from hurricanes Harvey, Irma and Maria, which disrupted operations in Puerto Rico and the southeastern United States where a heavy concentration of customers are located.

In the third quarter of 2017, Office Depot reported operating income of $108 million, net income from continuing operations of $98 million, or $0.19 per diluted share and total company net income of $92 million, or $0.17 per diluted share. Both net income from continuing operations and total company net income include a net tax credit of approximately $37 million associated with the reduction of the U.S. tax valuation allowance.

In the third quarter of 2016, the company reported operating income of $117 million, net income from continuing operations of $330 million, or $0.61 per diluted share and total company net income of $193 million, or $0.35 per diluted share. Both net income from continuing operations and total company net income include a net tax credit of approximately $240 million associated with the reduction of the U.S. tax valuation allowance.

For the year-to-date 2017 period, Office Depot reported operating income of $282 million compared to an operating income of $473 million for year-to-date 2016. Net income from continuing operations for year-to-date 2017 was $195 million, or $0.37 per diluted share, compared to net income from continuing operations of $624 million, or $1.13 per diluted share, for year-to-date 2016. The year-to-date 2016 results benefited from $250 million of operating income related to the Staples termination fee received in the second quarter of 2016 in addition to the benefit from the tax valuation allowance reduction stated above.

Adjusted (non-GAAP) Results (2)

Adjusted operating income for the third quarter of 2017 was $131 million compared to an adjusted operating income of $158 million in the third quarter of 2016. Adjusted net income from continuing operations for the third quarter of 2017 was $74 million, or $0.14 per diluted share, compared to adjusted net income from continuing operations of $89 million, or $0.16 per diluted share, in the third quarter of 2016.

  • Adjusted operating income for the third quarter of 2017 excludes charges and credits totaling $23 million, which were comprised of $15 million in restructuring charges, $6 million in OfficeMax merger-related expenses and $2 million in executive transition and acquisition-related expenses.
  • Adjusted net income from continuing operations in the third quarter of 2017 excludes the after-tax impact of these items.

For the year-to-date 2017 period, adjusted operating income was $351 million compared to an adjusted operating income of $360 million for year-to-date 2016. Adjusted net income from continuing operations for year-to-date 2017 was $196 million, or $0.37 per diluted share, compared to adjusted net income from continuing operations of $192 million, or $0.35 per diluted share, for year-to-date 2016.

Sale of International Businesses

As previously announced on July 28, 2017, the company completed the sale of its business in mainland China. The company’s sale of the remaining international operations in Australia and New Zealand remain subject to the buyer obtaining the necessary regulatory approvals.

The company’s retained sourcing and trading operations in Asia contributed $3 million in sales for the third quarter of 2017 and an operating loss of $1 million. These results are reported as an “Other” segment outside of the primary two operating segments.

Corporate Results

Corporate includes support staff services and certain other expenses that are not allocated to the company’s operating divisions. Unallocated expenses decreased to $22 million in the third quarter of 2017 compared to $29 million in the third quarter of 2016 primarily due to cost savings associated with the Comprehensive Business Review.

Balance Sheet and Cash Flow

As of September 30, 2017, Office Depot had $0.8 billion in cash and cash equivalents and approximately $1.0 billion available under the Amended and Restated Credit Agreement, for total available liquidity of approximately $1.8 billion. Total debt was $282 million, excluding $781 million of non-recourse debt related to the credit-enhanced timber installment notes.

For the third quarter of 2017, cash provided by operating activities of continuing operations was $293 million and included the impact of $16 million in restructuring costs and $12 million in OfficeMax merger–related costs. Capital expenditures were $37 million in the third quarter of 2017, $3 million of which were related to the merger integration. Accordingly, free cash flow(3) of continuing operations was $256 million in the third quarter of 2017.

Year-to-date 2017 free cash flow(3) of continuing operations was $316 million, which comprised of $408 million in cash provided by operating activities of continuing operations less $92 million in capital expenditures.

During the third quarter, the company paid a quarterly cash dividend of $0.025 per share on September 15, 2017 for an aggregate of approximately $13 million.

Office Depot repurchased approximately 4 million shares at a total cost of $17 million in the third quarter of 2017. Since the share repurchase program began in May 2016, Office Depot has repurchased approximately 45 million shares, at a total cost of $166 million, for a weighted average price of $3.71 per share. At the end of the third quarter, $84 million remained available for repurchase under the current $250 million buyback authorization.

New Strategic Direction to Unlock Growth Opportunities

Following the appointment of Gerry Smith as chief executive officer, Office Depot began a strategic review with a focus on growing revenue and evaluating profitable growth opportunities. The result is a new strategic direction focused on better serving customers through the integration of business services and products via an omnichannel platform that leverages the company’s core competencies and assets. With millions of business customers and a unique last-mile advantage, the company believes introducing compelling service offerings will create a growing stream of recurring subscription-based revenue. The new strategic direction contains three areas of focus: Transform, Disrupt and Strengthen. A number of initiatives are already underway across the business.

Transform our Business

The first major step in the company’s transformation to create a business services platform was the acquisition of CompuCom, a market-leading provider of award-winning technology services, products and solutions. The acquisition combines CompuCom’s broad set of managed technology services and 6,000 certified technicians with Office Depot’s extensive customer base and last-mile advantage. Together, this combination will create a unique nationwide omnichannel offering in office supplies and end-to-end technology solutions focused on business customers, with the scale and credibility to stand apart from the competition.

The combined company expects to be well positioned to capture market share in the $25 billion, highly fragmented North American managed workplace service market by providing a comprehensive network of enterprise-level tech services and products to new and existing customers of all sizes. With minimal customer overlap, both companies’ sales teams can immediately begin cross-selling a full suite of products and services, with an incentive structure focused on driving services revenue. By creating a broader relationship with customers, Office Depot can become a more important vendor and the ideal business partner to provide customers the solutions they need.

The company has also identified a compelling opportunity to bring technology services to the historically underserved small and midsize business (SMB) market. Office Depot currently has access to nearly six million SMB customers within three miles of its approximately 1,400 stores. CompuCom’s existing SMB offering, Tech-ZoneTM, will be placed within Office Depot’s nationwide retail footprint to provide immediate scale and drive increased foot traffic for improved per-store profitability. With this strategy, Office Depot will be the first to offer customers technology solutions with national scale and local support across an omnichannel platform.

Disrupt for our Future

Beyond the CompuCom acquisition, Office Depot also has identified several additional innovative opportunities to leverage its key assets and disrupt traditional retail thinking. Earlier this week, the company announced the launch of BizBox, a new business services platform. BizBox provides start-ups and small business leaders access to the core services needed to start and grow their businesses through a convenient, monthly subscription. BizBox will simplify business decisions and operations for all small and medium-sized businesses.

BizBox core service offerings include website hosting and design, Centriq asset management, digital and social marketing, financing and accounting, CRM and HR/payroll support, in addition to technical services and support available from CompuCom. BizBox will be initially offered through an integrated online platform, which will be enhanced with new features and services based on customer feedback and demand, including introduction into retail stores.

Strengthen our Core

While the transformation toward a services-driven company is part of a multi-year strategy, Office Depot has a number of initiatives underway to strengthen its core business operations. The company has recently acquired several mid-market regional office products and janitorial supply companies in order to improve access to customers in select geographic markets within the United States and augment its presence in the cleaning and breakroom category. These acquisitions also add new selling models, supply chain capabilities and purchasing scale that the company plans to leverage across its existing operations.

Office Depot is also making investments in people and capabilities with a focus on improving customer experience and demand generation across sales channels. The company has recently added several senior leaders in marketing and merchandising with proven experience in services, demand generation and data analytics. Office Depot is also upgrading supply chain capabilities to drive both cost and performance improvements and generate additional working capital opportunities.

“Our new strategy is focused on building diverse and stable recurring service offerings that leverage our omnichannel platform, but most importantly it was created by listening to our customers and the solutions they need in order to run their businesses,” commented Gerry Smith. “We are moving quickly to make the necessary investments to successfully deliver on the strategy and believe it can ultimately unlock significant value to our shareholders as we position Office Depot for the future.”

Outlook (4)

Office Depot continues to expect total company sales in 2017 to be lower than 2016, primarily due to the impact of planned store closures, prior year contract customer losses, continued challenging market conditions, hurricane impacts and returning to a 52-week fiscal year. However, the company expects the rate of sales decline to improve in the fourth quarter of 2017 on a comparable 13-week basis based on implementation of new customer wins, customer retention efforts and growth from strategic business initiatives.

The company expects to be substantially complete with the OfficeMax integration and realize the majority of the synergy benefits by the end of 2017. Merger integration expenses are estimated to total approximately $40 million in 2017 and approximately $15 million in merger-related capital expenditures.

Office Depot’s cost saving initiatives that were part of the Comprehensive Business Review are expected to deliver over $250 million in annual benefits by the end of 2018, with about two-thirds of the total benefits anticipated to be realized by the end of 2017. The company continues to estimate it will incur approximately $125 million in costs to implement the Comprehensive Business Review cost saving programs, of which $90 million has been incurred since inception through the third quarter of 2017. Furthermore, the company expects to realize an additional $40 million of expected synergies from the CompuCom acquisition over the next two years.

As recently announced on October 3, 2017, Office Depot now expects adjusted operating income to be between $400 million and $425 million in fiscal 2017. The reduction reflects lower sales and traffic during this year’s Back-to-School season, higher supply chain costs related to planned consolidations, hurricane impacts and continued investments related to the company’s new direction to become a services-driven company.

Capital expenditures in 2017 are now expected to be approximately $125 million including investments to support the company’s critical priorities. Depreciation and amortization is still expected to be approximately $150 million in 2017.

Office Depot continues to anticipate free cash flow(3) from continuing operations to be more than $300 million in 2017.

The company anticipates a non-GAAP effective tax rate of approximately 41% in fiscal 2017, dependent on the mix and timing of income. As the company continues to utilize available tax operating loss carry forwards and credits, the estimated cash tax rate is expected to be approximately 15%.

On November 8, 2017, Office Depot completed the acquisition of CompuCom for approximately $940 million. The transaction was funded with a new $750 million 5-year senior secured term loan, the issuance of approximately 44 million shares of the company’s common stock and approximately $55 million of cash on hand. Office Depot expects to maintain substantial financial flexibility with low balance sheet leverage, strong liquidity, and positive free cash flow available for debt repayment, capital returns to shareholders and growth initiatives.

Due to the recent timing of the CompuCom acquisition, Office Depot has not yet determined the potential purchase accounting and other impacts to the consolidated financial statements or reportable segments for 2017 or future periods. In addition, the company is currently developing estimates of the necessary investments required to support the new strategic direction to transition to a services-driven business model over the coming years. As a result of these uncertainties, Office Depot will not be providing 2018 guidance at this time. However, the company does expect 2018 sales trends to continue to be impacted by store closures, lower store traffic, and ongoing competitive pressures, with an associated flow-through impact to profitability.

Office Depot plans to host an Investor Day in early 2018 to further highlight the company’s new strategic direction, 2018 guidance, operating initiatives and leadership team. Additional details on date and location will be provided closer to the event.

(1) Operating cash flow refers to cash flows from operating activities of continuing operations.

(2) Adjusted results represent non-GAAP measures and exclude charges or credits not indicative of core operations and the tax effect of these items, which may include but not be limited to merger integration, restructuring, acquisition, asset impairments and executive transition costs. Reconciliations from GAAP to non-GAAP financial measures can be found in this release as well as on the Investor Relations website at investor.officedepot.com.

(3) Free cash flow is defined as cash flows from operating activities of continuing operations less capital expenditures.

(4) The company’s outlook for 2017 included in this release, includes expected adjusted operating income, a non-GAAP number, which excludes charges or credits not indicative of core operations, which may include but not be limited to merger integration expenses, restructuring charges, executive transition costs, asset impairments, and other significant items that currently cannot be predicted. The exact amount of these charges or credits are not currently determinable, but may be significant. Accordingly, the company is unable to provide equivalent reconciliations from GAAP to non-GAAP for these financial measures.

About Office Depot, Inc.

Office Depot, Inc. is a leading provider of office supplies, business products and services delivered through an omnichannel platform.

The company had 2016 annual sales of approximately $11 billion, employed approximately 38,000 associates, and served consumers and businesses in North America and abroad with approximately 1,400 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – with a global network of wholly owned operations, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot®, OfficeMax® and Grand & Toy. The company’s portfolio of exclusive product brands include TUL®, Foray®, Brenton Studio®, Ativa®, WorkPro®, Realspace® and Highmark®.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol “ODP.”

Office Depot is a trademark of The Office Club, Inc. OfficeMax is a trademark of OMX, Inc. ©2017 Office Depot, Inc. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners.

FORWARD LOOKING STATEMENTS

This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, or state other information relating to, among other things, Office Depot, based on current beliefs and assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” or other similar words, phrases or expressions, or other variations of such words. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of Office Depot’s control. There can be no assurances that Office Depot will realize these expectations or that these beliefs will prove correct, and therefore investors and stockholders should not place undue reliance on such statements.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the risk that Office Depot is unable to transform the business into a service-driven company or that such a strategy will result in the benefits anticipated, the risk that Office Depot may not be able to realize the anticipated benefits of the CompuCom transaction due to unforeseen liabilities, future capital expenditures, expenses, indebtedness and the unanticipated loss of key customers or the inability to achieve expected revenues, synergies, cost savings or financial performance, uncertainty of the expected financial performance of Office Depot following the completion of the CompuCom transaction, impact of weather events on Office Depot’s business, impacts and risks related to the termination of the attempted Staples acquisition, disruption in key business activities or any impact on Office Depot’s relationships with third parties as a result of the announcement of the termination of the Staples Merger Agreement; unanticipated changes in the markets for Office Depot’s business segments; the inability to realize expected benefits from the disposition of the European and other international operations; fluctuations in currency exchange rates, unanticipated downturns in business relationships with customers or terms with the company’s suppliers; competitive pressures on Office Depot’s sales and pricing; increases in the cost of material, energy and other production costs, or unexpected costs that cannot be recouped in product pricing; the introduction of competing technology products and services; unexpected technical or marketing difficulties; unexpected claims, charges, litigation, dispute resolutions or settlement expenses; new laws, tariffs and governmental regulations. The foregoing list of factors is not exhaustive. Investors and stockholders should carefully consider the foregoing factors and the other risks and uncertainties described in Office Depot’s Annual Report on Form 10-K, as amended, and Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission. Office Depot does not assume any obligation to update or revise any forward-looking statements.

Contact:
Richard Leland
561-438-3796
Investor Relations
Richard.Leland@officedepot.com 

Julianne Embry
561-438-1451
Media Relations
Julianne.Embry@officedepot.com

Source: Office Depot, Inc.

CBRE Group completes acquisition of project management and design engineering provider Heery International, Inc.

Los Angeles, 2017-Nov-01 — /EPR Retail News/ — CBRE Group, Inc. (NYSE: CBG) today (October 30, 2017) announced it has completed its previously-announced acquisition of Heery International, Inc. (Heery), the project management and design engineering business of the international infrastructure group, Balfour Beatty LLC.

Heery, based in Atlanta, is a leader in providing project management, design and commissioning services across the U.S., with a wide range of corporate, government, healthcare, sports, aviation and education clients.

“This acquisition advances our strategy to grow our project management expertise and capabilities.  Heery has a strong track record of client service with many longstanding relationships spanning decades,“ said Mike Lafitte, CBRE’s Global Group President, Lines of Business. “Their deep project management expertise and strong leadership team are a great complement to CBRE’s existing capabilities in both our local market and account-based project management services.”

“We are particularly excited about Heery’s ability to deepen our relationships in the public and educational sectors, grow our position in such new vertical segments as aviation and sports, and add capabilities and expertise in design engineering services,” he added.

Heery will continue to be led by senior executives Ted Sak and Glenn Jardine.  Heery’s professionals will collaborate closely with CBRE’s project management teams who deliver services in local markets across the U.S. as well as its professionals who execute account-based project management programs through its occupier outsourcing business line, Global Workplace Solutions.

“We believe our expertise is a great fit with CBRE’s focus on delivering comprehensive, fully integrated commercial real estate solutions,” said Mr. Jardine. “We look forward to working with our new CBRE colleagues across the country to provide these solutions to a broader range of corporate and institutional clients than ever before and achieving further growth in our core markets.”

Founded in 1952, Heery has approximately 535 employees in 19 U.S. offices, providing services including project management, architecture, engineering, interior design, and commissioning.

CBRE maintains the largest network of professional commercial real estate project managers worldwide. Its more than 5,000 specialists, including 350+ LEED-certified professionals, oversaw projects with a total contract value of more than $42 billion worldwide in 2016.

Forward-Looking Statements
Certain of the statements in this release regarding the acquisition of Heery International Inc. (Heery) 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 Heery professionals with our existing project management operations in the U.S., 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 June 30, 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.

About CBRE Group, Inc.

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 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. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

Amazon’s acquisition of Whole Foods Market will close on Monday August 28, 2017

Seattle, Wash. & Austin, Texas, 2017-Aug-28 — /EPR Retail News/ — Amazon and Whole Foods Market today (August 24, 2017) announced that Amazon’s acquisition of Whole Foods Market will close on Monday August 28, 2017, and the two companies will together pursue the vision of making Whole Foods Market’s high-quality, natural and organic food affordable for everyone. As a down payment on that vision, Whole Foods Market will offer lower prices starting Monday on a selection of best-selling grocery staples across its stores, with more to come.

In addition, Amazon and Whole Foods Market technology teams will begin to integrate Amazon Prime into the Whole Foods Market point-of-sale system, and when this work is complete, Prime members will receive special savings and in-store benefits. The two companies will invent in additional areas over time, including in merchandising and logistics, to enable lower prices for Whole Foods Market customers.

“We’re determined to make healthy and organic food affordable for everyone. Everybody should be able to eat Whole Foods Market quality – we will lower prices without compromising Whole Foods Market’s long-held commitment to the highest standards,” said Jeff Wilke, CEO of Amazon Worldwide Consumer. “To get started, we’re going to lower prices beginning Monday on a selection of best-selling grocery staples, including Whole Trade organic bananas, responsibly-farmed salmon, organic large brown eggs, animal-welfare-rated 85% lean ground beef, and more. And this is just the beginning – we will make Amazon Prime the customer rewards program at Whole Foods Market and continuously lower prices as we invent together. There is significant work and opportunity ahead, and we’re thrilled to get started.”

“It’s been our mission for 39 years at Whole Foods Market to bring the highest quality food to our customers,” said John Mackey, Whole Foods Market co-founder and CEO. “By working together with Amazon and integrating in several key areas, we can lower prices and double down on that mission and reach more people with Whole Foods Market’s high-quality, natural and organic food. As part of our commitment to quality, we’ll continue to expand our efforts to support and promote local products and suppliers. We can’t wait to start showing customers what’s possible when Whole Foods Market and Amazon innovate together.”

Here’s what will be new in Whole Foods Market stores on Monday and what customers can expect over time as the two companies integrate:

  • Starting Monday, Whole Foods Market will offer lower prices on a selection of best-selling staples across its stores, with much more to come. Customers will enjoy lower prices on products like Whole Trade bananas, organic avocados, organic large brown eggs, organic responsibly-farmed salmon and tilapia, organic baby kale and baby lettuce, animal-welfare-rated 85% lean ground beef, creamy and crunchy almond butter, organic Gala and Fuji apples, organic rotisserie chicken, 365 Everyday Value organic butter, and much more.
  • In the future, after certain technical integration work is complete, Amazon Prime will become Whole Foods Market’s customer rewards program, providing Prime members with special savings and other in-store benefits.
  • Whole Foods Market’s healthy and high-quality private label products—including 365 Everyday Value, Whole Foods Market, Whole Paws and Whole Catch—will be available through Amazon.com, AmazonFresh, Prime Pantry and Prime Now.
  • Amazon Lockers will be available in select Whole Foods Market stores. Customers can have products shipped from Amazon.com to their local Whole Foods Market store for pick up or send returns back to Amazon during a trip to the store.

This is just the beginning – Amazon and Whole Foods Market plan to offer more in-store benefits and lower prices for customers over time as the two companies integrate logistics and point-of-sale and merchandising systems.

Whole Foods Market will continue to grow its team and create jobs in local communities as it opens new stores, hires new team members, and expands its support of local farmers and artisans. The company will maintain operations under the Whole Foods Market brand, preserve its high standards and commitment to providing the finest natural and organic foods, and continue to source from trusted vendors and partners around the world. John Mackey will remain as CEO and Whole Foods Market’s headquarters will stay in Austin, Texas

Cautionary Statement Regarding Amazon Forward-Looking Statements 
This communication contains forward-looking statements.  We use words such as anticipates, believes, expects, future, intends, and similar expressions to identify forward-looking statements.  Actual results could differ materially from those projected or forecast in the forward-looking statements. Factors that could cause actual results to differ materially include the following: factors that could affect the timing of the consummation of Amazon’s acquisition of Whole Foods Market; Amazon may be unable to achieve the anticipated benefits of the transaction; revenues following the transaction may be lower than expected; operating costs, customer loss, and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, and suppliers) may be greater than expected; Amazon may assume unexpected risks and liabilities; initiatives with Whole Foods Market may distract Amazon’s management from other operations; and the other factors discussed in “Risk Factors” in Amazon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and in Amazon’s other filings with the SEC, which are available at http://www.sec.gov. Amazon assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

Contact:
SOmedia@wholefoods.com

Source: Whole Foods Market

First Data acquisition of CardConnect now complete

NEW YORK, 2017-Jul-08 — /EPR Retail News/ — First Data Corporation (NYSE: FDC), a global leader in commerce-enabling technology and solutions, and CardConnect Corp., a payment processing and technology solutions provider, today (06 Jul 2017) announced the successful completion of First Data’s tender offer to purchase the outstanding shares of CardConnect common stock for $15.00 per share in cash. The tender offer expired one minute after 11:59 p.m., Eastern Time, on July 5, 2017.

First Data subsequently completed the acquisition of the remaining CardConnect shares of common stock not acquired in the tender offer through a merger pursuant to Section 251(h) of the General Corporation Law of the State of Delaware. As a result, CardConnect is now a wholly-owned subsidiary of First Data and CardConnect shares will no longer be traded on the NASDAQ.

“We are thrilled with the acquisition of CardConnect and the opportunity to partner with Jeff Shanahan and his team and to integrate and expand the innovative products and skills that they bring to First Data,” said First Data Chairman and CEO, Frank Bisignano. “This acquisition allows us to improve our service offerings for our JVs and other distribution partners, accelerate our integrated solutions strategy, and enter the ERP integration business.”

As of the expiration of the tender offer, 22,987,356 shares were validly tendered and not validly withdrawn in the tender offer, representing approximately 72 percent of CardConnect’s outstanding shares of common stock, according to the depositary for the tender offer. Notices of Guaranteed Delivery were delivered with respect to 499,747 additional shares, representing approximately 2 percent of CardConnect’s outstanding shares of common stock, according to the depositary. First Data has accepted for payment and expects to promptly pay for all validly tendered (and not validly withdrawn) shares.

All CardConnect shares of common stock that were not validly tendered have been converted into the right to receive $15.00 per share in cash, without interest and less any applicable withholding taxes, the same price paid in the tender offer.

CardConnect CEO Jeff Shanahan will continue to lead CardConnect operations and will serve as an Executive Vice President and as a member of First Data’s Management Committee, reporting to Frank Bisignano.

CardConnect and First Data’s merchant acquiring businesses will be consolidated in First Data’s financial statements starting in the third quarter of 2017, but CardConnect will continue to operate under its own brand and will remain headquartered in King of Prussia, PA.

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 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.

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

Source: First Data Corporation

SUPERVALU acquisition of Unified Grocers now complete

MINNEAPOLIS, 2017-Jun-26 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today (Jun. 23, 2017) announced it has completed the previously announced acquisition of Unified Grocers, Inc. in a transaction valued at $390 million, comprised of $114 million in cash to Unified Grocers’ shareholders for 100 percent of the outstanding stock of Unified Grocers plus the assumption and pay-off at closing of Unified Grocers’ net debt of approximately $276 million.

“The completion of this transaction is a significant step forward for SUPERVALU and the growth of our wholesale business,” said Mark Gross, SUPERVALU’s President and Chief Executive Officer. “Our teams are fully engaged in the important work of integrating these two great organizations with a continued focus on delivering for our customers and stockholders. We’re excited about working with the many talented associates to supply and serve our expanded and highly diverse customer base.”

About SUPERVALU INC.
(The following information on sales, store counts and employees is as of SUPERVALU’s last fiscal year end and does not include Unified Grocers)

SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $12 billion in fiscal 2017. SUPERVALU serves customers across the United States through a network of 2,363 stores including 1,902 stores operated by wholesale customers serviced primarily by the Company’s food distribution business and 217 traditional retail grocery stores operated under five retail banners in six geographic regions (store counts as of February 25, 2017). Headquartered in Minnesota, SUPERVALU has approximately 29,000 employees.

Founded in 1922, Unified Grocers is a wholesale grocery distributor that supplies independent retailers throughout the western United States. Unified and its subsidiaries offer independent retailers all the resources they need to compete in the supermarket industry.

For more information about SUPERVALU visit www.supervalu.com.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

Cabela’s announces date of Special Meeting of Stockholders to approve acquisition of Cabela’s by Bass Pro Shops

Special Meeting to Take Place on July 11, 2017

SIDNEY, Neb., 2017-Jun-07 — /EPR Retail News/ — Cabela’s Incorporated (NYSE:CAB) today (Jun. 5, 2017) announced that it has filed definitive proxy materials with the U.S. Securities and Exchange Commission (“SEC”) in connection with the Special Meeting of Stockholders (the “Special Meeting”) to approve the previously announced acquisition of Cabela’s by Bass Pro Shops.

The Special Meeting is scheduled to be held on July 11, 2017, at 8:00 a.m. local time. The meeting will be held at the Company’s corporate headquarters, One Cabela Drive, Sidney, Nebraska 69160. All stockholders of record of Cabela’s common stock as of the close of business on June 2, 2017 will be entitled to vote their shares at the Special Meeting either in person or by proxy.

As previously announced, Cabela’s entered into an agreement to be acquired by Bass Pro Shops for $61.50 per share in cash, subject to adjustment in certain circumstances. The Cabela’s Board of Directors unanimously recommends that stockholders vote “FOR” the proposal to adopt the merger agreement.

The transaction is expected to close in the third quarter of 2017, subject to approval by Cabela’s shareholders, the receipt of required regulatory approvals and the satisfaction of other customary closing conditions.

About Cabela’s Incorporated

Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty omni-channel retailer of hunting, fishing, camping, shooting sports, and related outdoor merchandise. Since the Company’s founding in 1961, Cabela’s® has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World’s Foremost Outfitter®. Cabela’s offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela’s also issues the Cabela’s CLUB® Visa credit card, which serves as its primary customer loyalty rewards program. Cabela’s stock is traded on the New York Stock Exchange under the symbol “CAB”.

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 is being submitted to the stockholders of the Company for their consideration. In connection therewith, the Company has filed with the Securities and Exchange Commission (the “SEC”) a definitive proxy statement regarding the proposed merger, which will be mailed to the stockholders of the Company, and other relevant materials. BEFORE MAKING ANY VOTING OR ANY INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED MERGER AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. 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 through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by the Company are 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 regarding the proposed merger and any filings with the SEC that are incorporated by reference in such 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 merger. Information about the directors and executive officers of the Company is set forth in its definitive proxy statement for its 2016 Annual Meeting of Stockholders, which was filed with the SEC on November 17, 2016, 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, is contained in the definitive proxy statement regarding the proposed merger and may be contained in other relevant materials filed with the SEC.

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 December 31, 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:
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

Investors:
Cabela’s Incorporated
Andrew Weingard
308-255-7428

Source: Cabela’s Incorporated

 

Albertsons Companies strengthens its pharmacy specialty services with the acquisition of MedCart Specialty Pharmacy

Boise, ID, 2017-Jun-02 — /EPR Retail News/ — Albertsons Companies announced today (May 31, 2017) that it recently acquired MedCart Specialty Pharmacy in order to strengthen and extend its pharmacy specialty services. MedCart Specialty Pharmacy is an industry-leading, URAC accredited, pharmaceutical and healthcare provider of customized specialty care services and medication management for patients and physicians addressing complex diseases.

“MedCart Specialty Pharmacy has built an exemplary operation which complements our patient centered care strategy and pharmacy services growth plan,” explained Mark Panzer, Senior Vice President, Albertsons Companies, Pharmacy Health and Wellness. “Their team has done a tremendous job establishing a service culture that focuses on the patient.”

MedCart Specialty Pharmacy, privately owned since 2012, will continue to operate as it does today as a new business unit under the Albertsons Companies Pharmacy team structure. The current MedCart leadership will carry on leading their team and report directly to Dain Rusk, Group Vice President, Pharmacy Operations, Albertsons Companies.

“We’re excited to join the Albertsons Companies team,” states Eddie Abueida, RPh, Co-founder and Vice President, Specialty Operations, MedCart Specialty Pharmacy. “Our business principles and goals complement one another, which benefit everyone involved in the partnership – most importantly our patients.”

MedCart Specialty Pharmacy provides specialty prescription services and medications from two facilities in Michigan: one specialty pharmacy operations center and one local pharmacy.

“We’ve worked hard to create an infrastructure that serves patients and providers with the utmost in quality specialty care services and coordination that are required for these medications,” Ed Saleh, RPh, Co-founder and Vice President, Specialty Business Development, MedCart Specialty Pharmacy. “Albertsons Companies presented an excellent opportunity for us to extend our mission to more patients.”

About Albertsons Companies

Albertsons Companies is one of the largest food and drug retailers in the United States, with both a strong local presence and national scale. We operate stores across 35 states and the District of Columbia under 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs. Albertsons Companies is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2016 alone, along with the Albertsons Companies Foundation, the company gave nearly $300 million in food and financial support. These efforts helped millions of people in the areas of hunger relief, education, cancer research and treatment, programs for people with disabilities and veterans outreach.

Media Contact:

Jennifer Rapley
Jennifer.rapley@albertsons.com

Source: Albertsons Companies

Ediston Real Estate and Europa Capital announce acquisition of Auldhouse Retail Park, Glasgow from Aviva Investors

Edinburgh, Scotland, 2017-May-31 — /EPR Retail News/ — Ediston Real Estate and Europa Capital have acquired Auldhouse Retail Park, Glasgow from Aviva Investors. Located close to the city centre, the property provides 116,656 sq. feet of retail warehouse accommodation across seven units. This Open Class 1 retail park is fully let to national retailers, including Homebase, Aldi, Pets at Home and Home Bargains.

Alastair Dickie, of Ediston Real Estate, said “This is a superb off market transaction where we worked with the vendor to secure a successful conclusion for both parties.   This is a really well located retail park with excellent opportunities to improve and enhance through extensive refurbishment, redevelopment and intensive asset management”.

James Fortescue, Partner at Europa Capital commented, “We are delighted to have invested in another income producing retail investment with our local partner. The recent lettings to Aldi and Pets at Home demonstrate the strength of retail occupier demand in this part of the UK. We look forward to further improving the park through active asset management and targeted capital expenditure.”

About Ediston
Ediston Real Estate is a UK property company based in Edinburgh with assets under management in excess of £650 million.

The company focuses on both investment and development, and has a track record of buying sub-standard, well located properties and transforming them into prime institutional quality investments.

Ediston has been actively investing throughout the UK since 2009/2010, through the Ediston Opportunity Fund and with newly raised funds through the Ediston UK Real Estate Trust, launched in 2012.

About Europa Capital
Europa Capital is a real estate fund manager focused on European markets. We add value utilising a variety of strategies implemented through active asset management, change of use or refurbishment and development in all property classes across Europe.

Since 1995, Europa Capital has collectively raised nine real estate funds and committed to over 105 transactions totalling more than €9.5 billion across 19 European countries.

Europa Capital is a member of Rockefeller Group International (RGI), a subsidiary of Mitsubishi Estate Co., Ltd. RGI is a strategic investor alongside management in Europa Capital’s investment management business.

Further information:
Call: 0131 225 5599

Source: Ediston Real Estate

C C Land completes acquisition of The Leadenhall Building from British Land and Oxford Properties

C C Land completes acquisition of The Leadenhall Building from British Land and Oxford Properties

 

London, 2017-May-27 — /EPR Retail News/ — British Land and Oxford Properties (the global real estate arm of OMERS, the pension plan for Ontario’s municipal employees) today (25 MAY 2017) announce that they have completed the sale of The Leadenhall Building to C C Land.

The terms of the transaction are as set out in the press release issued on 1 March 2017 announcing the exchange of contracts. The sale was conditional on C C Land obtaining shareholder approval for the transaction. This was obtained at a Special General Meeting of C C Land’s shareholders on 18 May 2017.

British Land and Oxford Properties owned The Leadenhall Building in a 50/50 joint venture formed in 2010. The headline price achieved of £1.15 billion represents a premium to the valuation preceeding exchange of contracts. The sale marks the end of a very successful partnership between British Land and Oxford Properties to develop and lease this world class building.

British Land and Oxford Properties were advised by Cushman & Wakefield, Eastdil Secured, Mayer Brown and Herbert Smith Freehills.

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

About Oxford Properties Group
Oxford Properties Group is one of the world’s premier real estate investment, development and management companies. Established in 1960, Oxford manages over C$40 billion of real estate assets on behalf of its co-owners and investment partners, with a global portfolio spanning over 60 million square feet. We have offices across Canada and in London, Luxembourg, Boston, Washington DC and New York, with regional investment, development and management professionals who have deep real estate expertise and local market insight. Oxford now has approximately C$7bn of assets under management in Europe, with a focus on core office and high street retail assets in Central London and Paris. Oxford is the global real estate arm of OMERS, the pension plan for Ontario’s municipal employees.

For more information about Oxford visit: www.oxfordproperties.com.

Enquiries:
British Land  
Investor Relations:
Jonathan Rae
British Land
020 7467 2938

Media:  
Pip Wood
British Land
020 7467 2838

Guy Lamming
Finsbury Group
020 7251 3801

Gordon Simpson
Finsbury Group
020 7251 3801

Oxford Properties
Media:

Sally Saadeh
Oxford Properties
020 7822 2844

Neil Maitland
Maitland
020 7379 5151

Source: British Land

###

CBRE expands its presence in South Florida with the acquisition of Brenner Real Estate Group

Acquisition bolsters CBRE’s capabilities in South Florida

Los Angeles, 2017-May-16 — /EPR Retail News/ — CBRE Group, Inc. (NYSE: CBG) today (May 15, 2017) announced that it has acquired the business of Brenner Real Estate Group (BREG), a full-service commercial real estate services firm in South Florida. The acquisition bolsters CBRE’s capabilities in South Florida, where the company is a premier provider of integrated solutions for property investors and occupiers.

Founded in 1987, the firm is led by Scott Brenner, and includes a team of more than 20 professionals, based in Ft. Lauderdale, Boca Raton and Melbourne, Florida. BREG’s team is well-integrated into the South Florida market and provides comprehensive real estate services including leasing brokerage, investment sales and property management.

“The BREG professionals are a great complement to our capabilities in South Florida,” said Arden Karson, senior managing director for South Florida, CBRE. “They have a strong reputation for excellence in client service and will add particular expertise and resources in Broward and Palm Beach counties, and in our law firm, land services and healthcare specialty groups. We are very excited about our enhanced offering for South Florida clients.”

“We are excited to join CBRE and will benefit significantly from the wide range of expertise and resources that are now available to us,” said Mr. Brenner, president and CEO, Brenner Real Estate Group. “CBRE’s national and global footprint and broad service offering will enable us to meet more of our client needs and expand opportunities for our professionals.”

Forward-Looking Statements
Certain of the statements in this release regarding the acquisition of Brenner Real Estate Group (BREG), 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 BREG with our existing operations in the U.S., 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.

About CBRE Group, Inc.
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 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. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE strengthens position as a leader in corporate real estate services in the Pacific with the acquisition of Aurora Projects Pty Limited

Los Angeles, 2017-May-02 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) today (May 1, 2017) announced that it has acquired Aurora Projects Pty Limited (Aurora), a leading project advisory and management company in Australia. The acquisition significantly strengthens CBRE’s position as a leader in corporate real estate services in the Pacific (Australia and New Zealand) region.

Aurora’s team of 31 professionals in Sydney and Perth will be integrated within CBRE’s existing Project Management division in the Pacific. The combined operation will employ a staff of 105 Project Management professionals with broad and deep capabilities.

Led by Malcolm Naylor and Jo Thorley, Aurora has provided a range of consultancy services for over 20 years.

Aurora has a significant healthcare focus and has undertaken major advisory and project management work for clients in this sector in all Australian states. The firm has also developed strong capabilities in the higher education sector.

Ray Pittman, President and CEO of CBRE’s Australian & New Zealand operations, said the acquisition reflected the company’s continued focus on the growth of its occupier outsourcing business (Global Workplace Solutions) and ongoing strategy to diversify into new growth areas.

“We will now be able to provide a more diversified, first-class service offering to clients in Australia and New Zealand given Aurora’s reputation and track record as a market leader in the very specialized areas of health and higher education project management,” Mr. Pittman said.

Rhys Harvey, the Senior Managing Director of CBRE’s Pacific Global Workplace Solutions business, added; “The quality of Aurora’s people and their trusted client relationships will further strengthen our offering at a time of considerable growth in the Australian healthcare sector. In turn, we can provide Aurora’s clients with access to our broad service offering and reach around the world.”

Ian Rea, Managing Director of CBRE Project Management, will lead the integrated team with Ms. Thorley and Mr. Naylor assuming responsibility for health and higher education clients, respectively.

Ms. Thorley said CBRE’s global capabilities in the healthcare sector was a key attraction, allowing Aurora to enhance its expertise with a company recognized as a market leader in the development of complex capital health projects in the U.S.

“The strength of the CBRE brand will enhance our ability to continue to cultivate sustainable client relations in both the health and higher education sectors and, importantly, it will enable us to offer our staff superior career opportunities,’’ Mr. Naylor added.

Aurora’s significant assignments include the oversight of WA Country Health Service’s $1.8+ billion program of capital works projects together with project management of $1.4 billion of major public hospital capital works projects in New South Wales. Aurora is also involved in several complex and long term projects for Macquarie University.

Forward-Looking Statements
Certain of the statements in this release regarding the acquisition of Aurora Projects Pty Limited (Aurora) 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 Aurora with our existing operations in Australia, 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 Form 10-K for the fiscal year ended December 31, 2016. 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.

About CBRE Group, Inc.
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 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. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

PVH further participates in the fast growing online channel with the acquisition of direct-to-consumer e-commerce retailer True&Co.

NEW YORK, 2017-Mar-22 — /EPR Retail News/ — PVH Corp. [NYSE: PVH] announced today (Mar. 16, 2017) that it has entered into an agreement to acquire True&Co., a direct-to-consumer intimate apparel e-commerce retailer. True&Co. is changing the way women shop online by redesigning the art of bra shopping. It uses a proprietary fit quiz to recommend bras and other intimates that will best fit the responding consumer. Leveraging its consumer-centric data for the over five million women who have taken its quiz, True&Co. enables women to embrace an entirely different and personalized lingerie shop that offers a fun, fashionable and truly intimate experience. This acquisition will enable PVH to further participate in the fast growing online channel and provides a platform to increase innovation, data driven-decisions and speed in the way it serves its consumers across its channels. The terms of the transaction were not disclosed.

Emanuel Chirico, Chairman and Chief Executive Officer, PVH Corp., commented: “Today’s announcement illustrates our commitment to driving innovation across our business and demonstrates our commitment to making strategic investments in our digital platforms to support our long-term growth initiatives. We believe that we can leverage the analytics tools of this data-driven company, while leveraging PVH’s intimates category expertise, including global brand management, product know-how and supply chain.”

“Five years ago, I founded True&Co. to change the way women shop for intimate apparel. In PVH, we have a strategic partner who can help us bring this change to as many customers as possible. We look forward to joining PVH’s portfolio of brands and to help drive growth initiatives for PVH’s other brands,” said Michelle Lam, Co-founder of True&Co.

About PVH Corp.

With a history going back over 135 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, Ltd.

About True&Co.

True&Co. provides a unique lingerie e-commerce experience. Founded in 2012 by Michelle Lam, based in San Francisco and designed in New York City, True&Co. originated the online Fit Quiz that transformed the way women shop online by matching recommendations far beyond typical measurements. Leveraging more than 130 million data points for over five million women to date, the company provides a uniquely personalized customer experience with great product.

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 (the “Company”) future 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, (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the Company may be considered to be highly leveraged, and uses a significant portion of its cash flows to service its indebtedness, as a result of which the Company might not have sufficient funds to operate its businesses in the manner it intends or has operated in the past; (iii) the levels of sales of the Company’s apparel, footwear and related products, both to its wholesale customers and in its retail stores, 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 and its 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, repositionings of brands by the Company’s licensors and other factors; (iv) the Company’s plans and results of operations will be affected by the Company’s ability to manage its growth and inventory; (v) the Company’s operations and results could be affected by quota restrictions and the imposition of safeguard controls (which, among other things, could limit the Company’s ability to produce products in cost-effective countries that have the labor and technical expertise needed), the availability and cost of raw materials, the Company’s ability to adjust timely to changes in trade regulations and the migration and development of manufacturers (which can affect where the Company’s products can best be produced), changes in available factory and shipping capacity, wage and shipping cost escalation, and 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 or its licensees’ or other business partners’ products are sold, produced or are planned to be sold or produced; (vi) 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 become ill or limit or cease shopping in order to avoid exposure; (vii) 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 (viii) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.

Risks and uncertainties related to the acquisition include, among others: the risk that the conditions to the closing are not satisfied and the transaction is not completed; uncertainties as to the timing of the acquisition; competitive responses to the acquisition; the inability to obtain, or delays in obtaining, synergies from the acquisition; unexpected costs, charges or expenses resulting from the acquisition; litigation relating to the acquisition; the inability to recognize the expected benefits of the acquisition; the inability to integrate the acquired business without disruption to the acquired business or existing operations; and any changes in general economic and/or industry specific conditions.

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 & Investor Relations
communications@pvh.com

Source: PVH Corp.

Brixmor Property Group announces the acquisition of Arborland Center in Ann Arbor, Michigan for $102 million

NEW YORK, 2017-Mar-07 — /EPR Retail News/ — Brixmor Property Group Inc. (NYSE: BRX) (“Brixmor” or the “Company”) announced today (March 6, 2017) the acquisition of Arborland Center, a 404,000 square foot grocery-anchored regional shopping destination located in Ann Arbor, Michigan, for $102 million. Arborland Center is located in a high barrier-to-entry trade area situated between the University of Michigan and Eastern Michigan University and is anchored by a range of best-in-class retailers including Kroger, DSW, Marshalls, Nordstrom Rack, Starbucks and Ulta.

With the acquisition of Arborland Center, Brixmor owns four assets totaling over 1 million square feet in the Ann Arbor MSA, including Maple Village, an open-air shopping center currently undergoing redevelopment.  Brixmor recently replaced a former Kmart at Maple Village, which is also anchored by a specialty grocer, with HomeGoods, Michigan’s first Sierra Trading Post and Stein Mart. The Company intends to leverage its local market expertise, deep retailer relationships and value creation capabilities to drive cash flow growth at Arborland Center through near-term remerchandising and repositioning and long-term site densification.

“The acquisition of Arborland positions Brixmor as the largest institutional open-air landlord in the Ann Arbor market and is another great example of our strategy to cluster our ownership of assets in successful retail corridors and dynamic markets across the country. We see significant opportunities to enhance the merchandising at the center, densify the site and expand Arborland’s regional draw, while capitalizing on the below market rents at the center,” commented Mark Horgan, Executive Vice President, Chief Investment Officer.

CONNECT WITH BRIXMOR

ABOUT BRIXMOR PROPERTY GROUP
Brixmor Property Group, a real estate investment trust (REIT), is a leading owner and operator of high-quality, open-air shopping centers. The Company’s more than 500 retail centers comprise 86 million square feet in established trade areas across the nation and are supported by a diverse mix of highly productive non-discretionary and value-oriented retailers, as well as consumer-oriented service providers. Brixmor is committed to maximizing the value of its portfolio by prioritizing investments, cultivating relationships and capitalizing on embedded growth opportunities through driving rents, increasing occupancy and pursuing value-enhancing reinvestment opportunities. Headquartered in New York City, Brixmor is a partner to more than 5,500 best-in-class national, regional and local tenants and is the largest landlord to The TJX Companies and The Kroger Company.

SAFE HARBOR LANGUAGE
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements.  You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov.  Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

SOURCE: Brixmor Property Group Inc.

CBRE enhances its debt and structured finance service offering with the acquisition of Capstone Financial Solutions LLC

Los Angeles, 2017-Feb-15 — /EPR Retail News/ — CBRE Group, Inc. (NYSE: CBG) today  (February 13, 2017) announced that it has acquired the business of Capstone Financial Solutions LLC (“Capstone Financial”), a national boutique commercial real estate finance and consulting firm in the U.S. This acquisition enhances CBRE’s debt and structured finance service offering nationally while providing additional client service advantages in the Midwest.

Capstone Financial provides commercial real estate financing for all property types. Its proprietary work-flow technology platform enables Capstone Financial to sharply reduce processing times for commercial loans.

“Capstone Financial’s processes for quickly closing commercial loans will be a valuable asset to CBRE,“ said Brian Stoffers, Global President, Debt & Structured Finance, Capital Markets, CBRE. “We intend to leverage its proprietary technology platform and process to more efficiently serve our clients on their acquisition financing needs.”

Capstone Financial is led by Jon Faulkenberg and Shawn Givens and has offices in Los Angeles, Indianapolis, Tampa, St. Louis, Dallas and Kansas City.

“Combining with CBRE is an ideal situation for us and our clients,” said Jon Faulkenberg, Principal, Capstone Financial. “CBRE’s high-quality, full-service offering will ensure our clients have a one-stop shop for all of their commercial real estate needs.”

“We are very excited about the increased opportunities we will have by being part of CBRE,” said Shawn Givens, Principal, Capstone Financial. “The same high level of service our clients have come to expect will be enhanced by the products and services we will be able to offer as we grow our national team as part of CBRE. We look forward to the future and growth of CBRE|Capstone.”

About CBRE Group, Inc.
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 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. Please visit our website at www.cbre.com.

Forward-Looking Statements
Certain of the statements in this release regarding the acquisition of Capstone Financial 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 Capstone Financial with our existing operations in the U.S., 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, and our Annual Report on Form 10-K for the fiscal year ended December 31, 2015. 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
Senior Director, Global Media Relations
+1 212 9848267

Source:  CBRE Group, Inc.

t0.com, Inc. further expands its presence and range of services in global financial ecosystem with the acquisition of Blue Ocean Technologies

Creates Blue Ocean Technologies, LLC to offer U.S. securities trading after close of U.S. capital markets

SALT LAKE CITY, 2017-Jan-18 — /EPR Retail News/ — Financial technology firm t0.com, Inc., has formed Blue Ocean Technologies, LLC after acquiring the assets of Singapore-based Blue Ocean Financial Technology, Pte. Ltd. The addition of Blue Ocean Technologies to the t0 portfolio of companies further expands the fintech leader’s presence and range of services in the global financial ecosystem.

“Blue Ocean Technologies will provide investors in the rapidly growing Asian region with an avenue to execute U.S. equities during their usual business hours,” said t0 President Joe Cammarata. “This concept is the first of its kind, and has already attracted the attention of several large market-making clients to provide daily liquidity within our platform.”  The newly-formed Blue Ocean Technologies will offer the first transparent, electronic marketplace for trading U.S.-listed securities during non-U.S. trading hours. This electronic marketplace creates a new opportunity for firms, traders, and investors to manage risk and take advantage of opportunities created outside of U.S. regular trading hours. Also, foreign investors will have after-hours access to the full capabilities of the U.S. capital markets, which make up the second largest class of investments across Asia and Europe (behind country-specific home markets), while allowing for U.S.-based traders to track off-hours market movement and react accordingly.

Cammarata also noted that Blue Ocean’s dedication to pricing transparency and reporting the overnight trades to the Blockchain makes it a good fit for t0 and its development of blockchain-based technologies, which puts great emphasis on radical transparency.

“This partnership affords us the opportunity to work with t0, a company on the cutting edge of securities technology,” said Blue Ocean Financial Technology CEO and Blue Ocean Technologies managing member, Greg Shinnick. “Additionally, the relationship allows for a broader sphere of access and reach, which is crucial to expanding the emerging global securities marketplace.”

Blue Ocean will operate as a Division of PRO Securities, LLC, Member: FINRA & SIPC.  PRO Securities, is another wholly owned subsidiary of t0.com, Inc., and is an approved Alternative Trading System. The PRO Alternative Trading System recently supported the world’s first public issuance of a blockchain equity in Overstock.com’s successful rights offering utilizing t0’s distributed ledger technology-based platform.

About t0
t0.com, Inc. (pronounced tee-zero) is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (fintech) based on cryptographically-secured, decentralized ledgers – more commonly known as blockchain technologies. Since its inception, t0 has pioneered the effort to bring greater efficiency and transparency to capital markets through the integration of blockchain technology. More information is available at t0.com.

About Medici Ventures
Launched in 2014, Medici Ventures is a wholly owned subsidiary of Overstock.com, Inc., created to manage and oversee the company’s investments in firms building solutions leveraging and servicing blockchain technologies. Medici project companies include: t0, PeerNova, Bitt.com, SettleMint and Identity Mind.

Media Contact:

Mark Delcorps
(801) 947-3850
pr@overstock.com

Source: Overstock.com/globenewswire

SpartanNash completes acquisition of certain assets of Caito Foods Service and Blue Ribbon Transport

Byron Center, MI, 2017-Jan-10 — /EPR Retail News/ — SpartanNash (NASDAQ: SPTN) today (Jan 9th, 2017) announced that it has completed the previously announced acquisition of certain assets of Caito Foods Service (“Caito”) and Blue Ribbon Transport (“BRT”). Under the terms of the agreement, SpartanNash acquired Caito’s produce distribution business, fresh cut fruits and vegetables business and the company’s newly constructed Fresh Kitchen facility which is designed to process and package fresh-prepared foods, as well as the logistics business of BRT.

Commenting on the transaction, SpartanNash CEO and Chairman of the Board Dennis Eidson said, “We are very pleased to complete the transaction with Caito Foods and BRT. Caito is a premier distributor with best-in-class food processing facilities, including its new Fresh Kitchen. Caito’s service area also is complementary to our current distribution footprint, and we look forward to serving customers in new areas in addition to enhancing our offerings to existing customers. This acquisition further strengthens our platform and enhances our ability to help our customers serve their consumers, benefiting our associates and the communities we serve. We thank our Caito, BRT and SpartanNash associates, customers and suppliers for their support in completing this significant achievement. We look forward to leveraging our new platform with its broader customer base and geographic reach to create significant long-term value for our shareholders.”

Forward-Looking Statements

This communication contains forward-looking statements such as “opportunities” and “look forward.” These statements are based on estimates and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to, adverse conditions in the U.S. economy; the effects of competition in the markets in which we operate; material changes in the food industry; disruption of key suppliers’ provisioning of products or services; changes in the regulatory environment in which we operate, and other factors. This section is intended to provide meaningful cautionary statements for purposes of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This should not be construed as a complete list of all of the facts and conditions that could adversely affect the Company’s results of operations, financial condition, or liquidity. SpartanNash undertakes no obligation to update or revise its forward-looking statements to reflect developments that occur or information obtained after the date of this communication.

About SpartanNash

SpartanNash (Nasdaq: SPTN) is a Fortune 400 company whose core businesses include distributing grocery products to independent grocery retailers, national accounts, its corporate-owned retail stores and U.S. military commissaries. SpartanNash serves customer locations in 47 states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain and Egypt. SpartanNash currently operates 157 supermarkets, primarily under the banners of Family Fare Supermarkets, Family Fresh Market, D&W Fresh Market and SunMart. Through its MDV military division, SpartanNash is the leading distributor of grocery products to military commissaries in the United States.

About Caito Foods Service

Caito Foods Service is a leading supplier of fresh fruits and vegetables, fresh-prepared foods, and fresh floral products to grocery retailers and foodservice distributors in 22 states from its distribution centers in Indiana, Ohio and Florida. Through its Blue Ribbon Transport operations, Caito offers internal distribution and logistics services for its customers and for other companies throughout the United States. Caito Foods was founded in 1965 by Philip J. Caito, IV, and his brother, Joseph A. Caito. Together, the brothers developed a dedicated team of managers and leaders and built a company culture centered on family values, success for their associates, and world-class service for their customers.

Contact:
financial inquiries:
Chris Meyers
616-878-8023
EVP, Chief Financial Officer

Media Inquiries:
Meredith Gremel
616-878-2830
Vice President, Corporate Affairs & Communications

Source: SpartanNash

CBRE Group, Inc. announces the acquisition of leading retail project management firm Skye Group

Los Angeles, 2016-Dec-13 — /EPR Retail News/ — CBRE Group, Inc. (NYSE: CBG) today (December 12, 2016) announced that it has acquired Skye Group (Skye), a leading provider of retail project management, shopping center development and tenant coordination services in the U.S. and Canada. This acquisition enhances CBRE’s position in the retail market by bolstering its retail project management service offerings.

Based in Cleveland, Ohio, Skye is led by Bradley Sanders, who founded the firm in 2000. Its client list consists of prominent retail real estate investors including Simon, Howard Hughes, Westfield, LaSalle Investment Management, Vornado Realty Trust, New England Development, Ivanhoe Cambridge and Steiner & Associates, as well as brands such as Barneys New York.

“Skye has earned the reputation as a reliable and efficient solution for shopping center investors and occupiers,“ said Mark Fewin, Americas leader, Project Management Services, CBRE. “The firm’s ‘early stage’ work for clients in project management and large-scale construction will create new client service opportunities in the retail market.”

Mr. Sanders will lead CBRE’s retail project management business and report to Mr. Fewin. The business will operate as CBRE I Skye.

“Joining CBRE is an excellent fit for our business and our retail clients will benefit from CBRE’s breadth of occupier and investor solutions,” said Mr. Sanders.  “I look forward to working with our new colleagues at CBRE to take our business and our ability to service our clients to an even higher level.”

Skye serves retail clients throughout North America.

“Adding Skye’s services to our client offerings reflects our strategy to strengthen our position in the retail real estate sector in the Americas and is a seamless fit with our robust retail service line platform,” said Anthony Buono, executive managing director, Retail Services, the Americas, CBRE.

About CBRE Group, Inc.
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 2015 revenue).  The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide.  CBRE 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. Please visit our website at www.cbre.com.

Forward-Looking Statements
Certain of the statements in this release regarding the acquisition of Skye Group (Skye) 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 Skye with our existing operations in the U.S. and Canada, 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, and our Annual Report on Form 10-K for the fiscal year ended December 31, 2015. 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
Senior Director, Global Media Relations
+1 212 9848267

Source:  CBRE Group, Inc.

ICA Gruppen confirms talks over a potential acquisition of the Lithuanian grocery chain IKI

Solna, Sweden, 2016-Nov-26 — /EPR Retail News/ — ICA Gruppen today (2016, 25 November) confirms, after reports in local media in Lithuania, that discussions are ongoing with the owners of Palink, over a potential acquisition of the Lithuanian grocery chain IKI.

No agreement has been reached and it is not possible to state with certainty that an agreement will be reached. Further information will be published when there is anything substantial to communicate.

For more information:
ICA Gruppen press service
Telephone number: +46 10 422 52 52

Source: ICA Gruppen

Bed Bath & Beyond Inc. announces the acquisition of PersonalizationMall.com

  • Expands Bed Bath & Beyond’s Existing Assortment in Growing Product Personalization Category; Furthers Mission to Provide Differentiated Products, Services and Solutions to Customers
  • Supports PersonalizationMall.com’s Ongoing Efforts to Continually Improve Customer Experience Through Enhancements to Product Mix, Upgrades to E-Commerce Website, and Optimization of Marketing Initiatives
  • Leverages PersonalizationMall.com’s Fully-Integrated, Proprietary Technology Platform to Drive Additional Omnichannel Offerings Across All Bed Bath & Beyond Concepts
  • Transaction Expected to be Slightly Accretive to Fiscal 2016 Earnings

UNION, N.J., 2016-Nov-25 — /EPR Retail News/ — Bed Bath & Beyond Inc. (NASDAQ: BBBY) announced today (Nov. 23, 2016) that it has acquired PersonalizationMall.com (PMall.com), an industry-leading online retailer of personalized products based in Burr Ridge, Illinois, for approximately $190 million in cash, which reflects certain closing adjustments.

Over the past 18 years, PMall.com has developed a fully-integrated, proprietary technology platform that drives quality, speed and efficiency throughout the process of personalizing a breadth of products to each customer’s unique preference. PMall.com is a highly successful innovator of personalized products and currently offers an extensive assortment of products that can be customized through a variety of different personalization processes including sublimation, embroidery, digital printing, engraving, and sandblasting. PMall.com’s vertically integrated e-commerce platform includes an automated personalization process and rapid order fulfillment, resulting in a differentiated customer experience.

Bed Bath & Beyond remains focused on its mission to do more for and with its customers and to be viewed as the expert for the home, and to become the destination for customers’ needs and wants as they express their life interests and travel through their life stages; all through the expanding and differentiated products, services and solutions the Company offers. The acquisition of PMall.com expands the Company’s existing assortment in the growing product personalization category and brings a complementary portfolio of differentiated products that commemorate all of life’s events and special occasions such as weddings, birthdays, holidays and the welcoming of a child.

“We are delighted to welcome PersonalizationMall.com to Bed Bath & Beyond. They have built a tremendous business, and we are excited to support them as they advance their industry-leading position within the growing category of product personalization,” stated Steven H. Temares, Chief Executive Officer and Member of the Board of Directors of Bed Bath & Beyond Inc. “As we have said previously, we view personalization as a significant opportunity for us to create additional differentiation and enable us to do more for and with our customers.” Temares added, “We look forward to supporting PersonalizationMall.com as they continue to improve the customer experience by enhancing their product mix, upgrading their e-commerce website and driving optimization of their marketing initiatives. At the same time, we are excited by the opportunity to leverage their advanced personalization and production capabilities to create additional omnichannel offerings across all of our concepts.”

“I am very proud of the work our team has done in building PersonalizationMall.com into a market segment leader due to the ever-increasing demand for a wide range of quality personalized gift offerings,” said Dan Randolph, Founder and President, PersonalizationMall.com. “We are excited to be given the opportunity to realize the full potential of the PersonalizationMall.com brand in working together with Bed Bath & Beyond.  Additionally, it is a great opportunity for our PMall Team to become part of such an admired company that is as committed to great customer service as we are.”

Bed Bath & Beyond funded the transaction using cash on hand, and expects the acquisition to be slightly accretive to its net earnings per diluted share for fiscal 2016. The acquisition of PMall.com is not anticipated to have a material effect on Bed Bath & Beyond’s fiscal 2016 third quarter ending on November 26, 2016. The Company’s fiscal 2016 third quarter results are scheduled to be reported on December 21, 2016.

Financial advisor to Bed Bath & Beyond on this transaction was Goldman, Sachs & Co. PersonalizationMall.com was advised by William Blair.

About the Company

Bed Bath & Beyond Inc. and subsidiaries (the “Company”) is a retailer selling a wide assortment of domestics merchandise and home furnishings which operates under the names Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, Harmon or Harmon Face Values, buybuy BABY and World Market, Cost Plus World Market or Cost Plus. Customers can purchase products from the Company either in-store, online, with a mobile device or through a contact center. The Company generally has the ability to have customer purchases picked up in-store or shipped direct to the customer from the Company’s distribution facilities, stores or vendors.  In addition, the Company operates Of a Kind, an e-commerce website that features specially commissioned, limited edition items from emerging fashion and home designers; One Kings Lane, an authority in home décor and design offering a unique collection of select home goods, designer and vintage items; and PersonalizationMall.com, an industry-leading online retailer of personalized products.  The Company also operates Linen Holdings, a provider of a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, healthcare and other industries.  Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.

Forward-Looking Statements

This press release may contain forward-looking statements.  Many of these forward-looking statements can be identified by use of words such as may, will, expect, anticipate, approximate, estimate, assume, continue, model, project, plan, and similar words and phrases.  The Company’s actual results and future financial condition may differ materially from those expressed in any such forward-looking statements as a result of many factors. Such factors include, without limitation: general economic conditions including the housing market, a challenging overall macroeconomic environment and related changes in the retailing environment; consumer preferences, spending habits and adoption of new technologies; demographics and other macroeconomic factors that may impact the level of spending for the types of merchandise sold by the Company; civil disturbances and terrorist acts; unusual weather patterns and natural disasters; competition from existing and potential competitors; competition from other channels of distribution; pricing pressures; liquidity; the ability to attract and retain qualified employees in all areas of the organization; the cost of labor, merchandise and other costs and expenses; potential supply chain disruption due to political instability, labor disturbances, product recalls, financial or operational instability of suppliers or carriers, and other items; the ability to find suitable locations at acceptable occupancy costs and other terms to support the Company’s plans for new stores; the ability to assess and implement technologies in support of the Company’s development of its omnichannel capabilities; the ability to establish and profitably maintain the appropriate mix of digital and physical presence in the markets it serves; uncertainty in financial markets; disruptions to the Company’s information technology systems including but not limited to security breaches of systems protecting consumer and employee information; reputational risk arising from challenges to the Company’s or a third party supplier’s compliance with various laws, regulations or standards, including those related to labor, health, safety, privacy or the environment; reputational risk arising from third-party merchandise or service vendor performance in direct home delivery or assembly of product for customers; changes to statutory, regulatory and legal requirements; new, or developments in existing, litigation, claims or assessments; changes to, or new, tax laws or interpretation of existing tax laws; changes to, or new, accounting standards; foreign currency exchange rate fluctuations; and the integration of acquired businesses.  The Company does not undertake any obligation to update its forward-looking statements.

Contact:
Janet M. Barth
(908) 613-5820

SOURCE: Bed Bath & Beyond Inc.

Lowe’s announces completion of previously announced acquisition of RONA inc.’s Preferred Shares

MOORESVILLE, N.C. and BOUCHERVILLE, Quebec, 2016-Nov-21 — /EPR Retail News/ — Lowe’s Companies, Inc. (NYSE: LOW) (“Lowe’s” or the “Company”) today (Nov. 18, 2016) announced it has completed its previously announced acquisition of RONA inc.’s (“RONA”) Cumulative 5-Year Rate Reset Series 6 Class A Preferred Shares and Cumulative Floating Rate Series 7 Class A Preferred Shares (collectively, the “Preferred Shares”). Pursuant to the statutory plan of arrangement (the “Arrangement”) under Chapter XVI – Division II of the Business Corporations Act (Québec), holders of RONA’s Preferred Shares (collectively, the “Preferred Shareholders”) will receive cash proceeds of C$24, without interest, per Preferred Share.

Registered Preferred Shareholders must submit the share certificates representing their Preferred Shares and complete, execute and submit the Letter of Transmittal sent to them with the other materials for the special meeting of RONA shareholders held on Nov. 15, 2016 in order to receive the consideration to which they are entitled.  Preferred Shareholders who have not yet submitted their share certificates and Letters of Transmittal are encouraged to do so as soon as possible.  Any questions regarding payment of the consideration, including any request for another copy of the Letter of Transmittal, should be directed to Computershare Investor Services Inc. via telephone at 1-800-564-6253 (toll free in North America) or via email at corporateactions@computershare.com.

RONA has applied to delist its Preferred Shares from the Toronto Stock Exchange (“TSX”) and expects such delisting to be completed in a few trading days. RONA has also applied to cease to be a reporting issuer in each of the Provinces of Canada under applicable Canadian securities laws.

About Lowe’s Companies, Inc.

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 2015 sales of $59.1 billion, Lowe’s and its related businesses operate or service more than 2,355 home improvement and hardware stores and employ over 285,000 employees. 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.

About RONA inc.

Acquired by Lowe’s Companies, Inc. on May 20, 2016, RONA inc. is a major Canadian retailer and distributor of hardware, building materials and home renovation products. RONA operates a network of close to 500 corporate and independent affiliate dealer stores in a number of complementary formats. RONA serves its network of stores and several independent dealers operating under other banners, including Ace, for which RONA owns the licensing rights and is the exclusive distributor in Canada. With more than 17,000 employees in corporate stores and more than 5,000 employees in the stores of its independent affiliate dealers, the Corporation generated annual consolidated sales of $4.2 billion for fiscal year 2015. For more information, visit rona.ca.

Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulation, including those regarding the transaction.  Statements including words such as “may”, “will”, “could”, “should”, “would”, “plan”, “potential”, “intend”, “anticipate”, “believe”, “estimate” or “expect” and other words, terms and phrases of similar meaning are forward-looking statements. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties.  Such forward-looking statements include, but are not limited to, the expected timing of the de-listing of the Preferred Shares and RONA’s application to cease to be a reporting issuer under applicable Canadian securities laws.  Although we believe that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, we can give no assurance that such statements will prove to be correct. 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. For more information about risks and uncertainties that Lowe’s Companies, Inc. is exposed to, you should read the “Risk Factors” and “Critical Accounting Policies and Estimates” included in its most recent Annual Report on Form 10-K to the United States Securities and Exchange Commission (the “SEC”) and the description of material changes therein or updated version thereof, if any, included in its 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.  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 Lowe’s Companies, Inc.’s most recent Annual Report on Form 10-K to the SEC and the description of material changes, if any, therein included in its 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:

SOURCE: Lowe’s Companies, Inc.

eBay completes acquisition of visual search technologies pioneer Corrigon Ltd.

eBay completes acquisition of visual search technologies pioneer Corrigon Ltd.
eBay completes acquisition of visual search technologies pioneer Corrigon Ltd.

 

San Jose, California, 2016-Oct-31 — /EPR Retail News/ — UPDATE: eBay has completed the acquisition of Corrigon Ltd., a pioneer of visual search technologies.  Corrigon’s image recognition technology will enhance the eBay shopping experience.  The Corrigon team has joined eBay’s structured data organization and will be based in eBay’s Israeli Development Center in Netanya.

The below posting was originally published on October 5, 2016:

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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Buffalo Boots GmbH and DEICHMANN group sign purchase agreement for the acquisition of Buffalo

Essen/Hochheim, 2016-Oct-04 — /EPR Retail News/ — The founder of Buffalo Boots GmbH, Mick Conradi, and the DEICHMANN group signed a purchase agreement for the acquisition of Buffalo. It is still subject to approval by the antitrust authorities. The purchase price was not disclosed.

The objective is to maintain the brand and the company as a separate unit. This means that both the branches and also the licensing business and wholesale trade will continue. The Buffalo brand will not be run as a proprietary brand of DEICHMANN and will also not be given a separate distribution channel or separate pricing within the group.

“We see the acquisition of Buffalo as a strategic corporate holding. Our goal is to maintain this cult brand for the market as an independent entity and to develop it further, so that it is well equipped to face future challenges. In this way we are continuing our successful diversification strategy, seeking to open up new growth areas with special concepts such as Snipes or ONYGO”, said Heinrich Deichmann, Chairman of the managing directors and of the Board of Directors of DEICHMANN SE, about the direction of development.

Mick Conradi, who founded the brand in 1979, noted: “I am glad that Buffalo is being taken over by an investor which comes from the industry and can look back on a long tradition as a proprietor-run shoe retailer. I am sure that they will understand the management and further development of our brand.”

The DEICHMANN SE with headquarters in Essen (Germany) was founded in 1913 and is 100 percent owned by the founding family. The company is the market leader in the European shoe retailers and employs worldwide more than 37,300 persons. Under the name of DEICHMANN operate branches in Germany, Bosnia and Herzegovina, Bulgaria, Denmark, Great Britain, Italy, Croatia, Lithuania, Austria, Poland, Portugal, Romania, Russia, Sweden, Serbia, of Slovakia, Slovenia, Spain, Czech Republic, Turkey and Hungary. In addition, the group is represented in the Switzerland (Dosenbach/O’Toole/Ochsner sport), the Netherlands (vanHaren), in the United States (Rack Room Shoes / off Broadway). In Germany, she also heard Roland SE Group of companies. The companies in Germany, Austria and the Switzerland is represented with the MyShoes SE.

Media contact:

DEICHMANN SE
Corporate Communications
Ulrich Effing
Tel.: 0201 8676-960
ulrich_effing@deichmann.com

Source: DEICHMANN

Authentic Brands Group, General Growth Properties and Simon Property Group finalizes acquisition of Aéropostale

NEW YORK & CHICAGO & INDIANAPOLIS, 2016-Sep-18 — /EPR Retail News/ — Authentic Brands Group (ABG), General Growth Properties (GGP) and Simon Property Group (SPG) finalizes the acquisition of the global trend-focused apparel and accessories brand, Aéropostale. The consortium includes ABG, the owner of a global portfolio of fashion, sports and entertainment brands, GGP and SPG, two of the largest retail real estate companies in the world.

Aéropostale offers young women, men and kids a focused selection of active-oriented fashion and fashion basic merchandise at compelling values. The brand will continue to be available in over 700 retail doors around the world; more than 400 stores in the U.S. and Canada and approximately 300 doors across Latin America, Europe, the Middle East and Southeast Asia.

Through ABG’s proven know-how in brand building and licensing, combined with the expertise of retail real estate specialists, GGP and SPG, there is now a strong foundation in place for long term performance and growth.

“We are pleased to be part of this consortium that has saved thousands of jobs and preserved a legendary American brand,” said David Simon, Chairman and CEO, Simon Property Group. “We are encouraged by the tremendous amount of support we have received from employees, vendors and other landlords.”

“This consortium brings a new approach to brand development and Aéropostale brings another facet to ABG’s fashion portfolio,” said Jamie Salter, Chairman and CEO, ABG. “The purchase of Aéropostale propels the retail revenue driven by ABG’s brands to over $4.5 billion USD in retail sales worldwide. We look forward to working closely with our new partners, General Growth Properties and Simon Property Group to continue to grow the Aéropostale brand on a global scale.”

“Aéropostale has significant brand equity and the go-forward portfolio of stores generates more than $1 billion in global retail sales, over $800 million of which is from the U.S.,” said Sandeep Mathrani, CEO, GGP. “The entity is financially secure and well capitalized and we are very pleased that thousands of jobs will be preserved.”

About Authentic Brands Group, LLC

Authentic Brands Group is a brand development company, which builds long-term value through the ownership of intellectual property associated with prominent fashion, sports, celebrity and entertainment brands. Headquartered in New York City, ABG builds brand equity by partnering with best-in-class licensees and retailers. ABG’s global portfolio of world-renowned brands includes Marilyn Monroe®, Mini Marilyn®, Elvis Presley®, Muhammad Ali®, Shaquille O’Neal®, Michael Jackson® *managed brand*, Juicy Couture®, Aéropostale®, Jones New York®, Judith Leiber®, Frederick’s of Hollywood®, Adrienne Vittadini®, Taryn Rose®, Misook®, Hickey Freeman®, Hart Schaffner Marx®, Bobby Jones®, Spyder®, Tretorn®, Tapout®, Prince®, Airwalk®, Vision Street Wear®, and Hind®. www.abg-nyc.com

About General Growth Properties, Inc.

General Growth Properties, Inc. is an S&P 500 company focused exclusively on owning, managing, leasing, and redeveloping high-quality retail properties throughout the United States. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.

About Simon Property Group

Simon is a global leader in retail real estate ownership, management and development and an S&P100 company (Simon Property Group, NYSE:SPG). Our industry-leading retail properties and investments across North America, Europe and Asia provide shopping experiences for millions of consumers every day and generate billions in annual retail sales. For more information, visit simon.com.

CONTACT:

Authentic Brands Group
Haley Steinberg
PR and Communications
(646) 612-7439
hsteinberg@abg-nyc.com

General Growth Properties
Kevin Berry
SVP Investor & Public Relations
(312) 960-5529
kevin.berry@ggp.com

Simon Property Group
Tom Ward
SVP Investor Relations
(317) 685-7330
tom.ward@simon.com

Source: General Growth Properties

The Save Mart Companies to rebrand Food Source store in North Highlands into FoodMaxx following its acquisition

Modesto, Calif., 2016-Sep-15 — /EPR Retail News/ — The Save Mart Companies has acquired the Food Source store located at 7477 Watt Avenue in North Highlands. The Company will move its FoodMaxx store at 8065 Watt Avenue in Antelope to the new location, just a mile down the street. Food Source will close September 24. So as not to leave the community without a low price, value grocery store, the FoodMaxx store in Antelope will remain open until the grand opening of the new North Highlands location on October 12.

“The North Highlands location provides FoodMaxx a broader reach in this neighborhood—and I think shoppers will love our new look and feel,” said Frank Capps, General Manager of FoodMaxx, one of the brands operated by The Save Mart Companies.

All team members at the current FoodMaxx location will move to the North Highlands store. The North Highlands community should continue to see some of their favorite Foods Source faces, as the new FoodMaxx store will need 20-30 more employees. The Company hopes to hire from the current Food Source team.

All 52 FoodMaxx stores have recently been rebranded with a fresh new look, layout and fixtures. The North Highlands location will also have these same new features, while offering our signature bargain prices for name-brand products.

In mid-November, FoodMaxx will enter the Northern Nevada market for the first time with a new store in both Carson City and Sparks.

SOURCE: FoodMaxx

Diebold acquisition of Wincor Nixdorf AG finalized

NORTH CANTON, 2016-Aug-16 — /EPR Retail News/ — Diebold, Incorporated (NYSE: DBD) today (15 August 2016) announced that it has successfully completed the acquisition of Wincor Nixdorf AG through its voluntary takeover offer for all the company’s ordinary shares.  The combined organization will begin operating as Diebold Nixdorf on Tuesday, Aug. 16.

Offer consideration and other transaction details

Under the terms of the takeover offer, Wincor Nixdorf shareholders received €38.98 in cash plus 0.434 Diebold common shares in exchange for each Wincor Nixdorf share. The total offer consideration consists of approximately €891.7 million in cash and 9,928,514 newly issued Diebold common shares. To the extent that Wincor Nixdorf shareholders are entitled to fractional shares, those fractional entitlements will be aggregated and sold in the market and the proceeds of such sale distributed pro rata no later than Aug. 29, 2016.

The Diebold common shares issued to Wincor Nixdorf shareholders commenced trading on the NYSEunder the symbol DBD, and all Diebold common shares commenced trading on the Frankfurt Stock Exchange under ISIN US2536511031 (symbol DBD).

In the United Kingdom, the Diebold and Wincor Nixdorf brands and operations will remain distinct pending completion of the Competition and Markets Authority’s review of the transaction.

Financing, synergy targets and capital allocation plans

The cash portion of the offer consideration is being financed with funds available under Diebold, Incorporated’s existing credit agreement and net proceeds from the issuance and sale of its senior notes due 2024.  Diebold Nixdorf expects to report pro forma net debt/EBITDAi of less than 4x as of September 30, 2016. The combined organization plans to deliver approximately $160 million of annual cost synergies and is targeting a non-GAAP operating margin in excess of 9 percent by the end of the third full year following the closing of the takeover offer. The realization of these synergies and Diebold Nixdorf’s focus on deleveraging its balance sheet is expected to result in net debt/EBITDA below 3x by the end of the third full year. The combined company currently intends to pay a dividend per share at a rate of approximately one-third of Diebold’s current annual cash dividend per share, subject to market and other conditions, expected to be paid on a quarterly basis. Paying regular dividends remains a part of Diebold Nixdorf’s philosophy of returning value to shareholders.

About Diebold
Diebold, Incorporated (NYSE: DBD) provides the technology, software and services that connect people around the world with their money – bridging the physical and digital worlds of cash conveniently, securely and efficiently. Since its founding in 1859, Diebold has evolved to become a leading provider of exceptional self-service innovation, security and services to financial, commercial, retail and other markets.

Diebold has approximately 15,000 employees worldwide and is headquartered near Canton, Ohio, USA. Visit Diebold at www.diebold.com or on Twitter: http://twitter.com/DieboldInc.

Cautionary Statement About Forward-Looking Statements
Certain statements contained in this communication regarding matters that are not historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These include statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future including, without limitation, the business combination with Wincor Nixdorf. Such forward-looking statements are based on the current expectations of Diebold and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements. Such forward-looking statements may include statements about the acquisition of Wincor Nixdorf, the effects of the acquisition on the businesses and financial conditions of Diebold or Wincor Nixdorf, including synergies, pro forma revenue, targeted operating margin, net debt to EBITDA ratios, accretion to earnings and other financial or operating measures.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and the development of the industries in which the combined company operates may differ materially from those made in or suggested by the forward-looking statements contained in this document. In addition, risks and uncertainties related to the acquisition include, but are not limited to, the ability to successfully integrate the businesses of Diebold and Wincor Nixdorf, the timing, receipt and terms and conditions of any governmental and regulatory approvals that could reduce anticipated benefits or cause the parties to abandon the business combination, risks associated with the impact of the business combination agreement, the contemplated domination and profit and loss transfer agreement and any related litigation may have on the business and operations of the combined company, risks related to disruption of management time from ongoing business operations due to the acquisition, and the risk that the acquisition could have an adverse effect on the ability of the combined company to retain and hire key personnel and maintain relationships with its suppliers, and on its operating results and businesses generally.

These risks, as well as other risks are more fully discussed in Diebold’s reports filed with the SEC and available at the SEC’s website at www.sec.gov. Any forward?looking statements speak only as at the date of this document. Except as required by applicable law, neither Diebold nor Wincor Nixdorf undertakes any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.

i Expected pro forma net debt/EBITDA includes contributions from both Diebold, Incorporated and Wincor Nixdorf as if both companies were operating as a single entity for the 12 months ending September 30, 2016.  Net debt is defined as long-term debt plus short-term debt minus cash and cash equivalents.  Diebold’s management believes that given the significant cash, cash equivalents and other investments on its balance sheet that net cash against outstanding debt is a meaningful net debt calculation.

Diebold defines EBITDA as net (loss) income excluding income tax (benefit) expense, net interest, and depreciation and amortization expense. Diebold defines Adjusted EBITDA as EBITDA before the effect of the following items: income from discontinued operations, net of tax, share-based compensation, foreign exchange loss, net, other (expense) income miscellaneous, net, restructuring expense, and non-routine expenses, net. These are non-GAAP financial measurements used by management to enhance the understanding of our operating results. EBITDA and Adjusted EBITDA are key measures Diebold uses to evaluate our operational performance. Diebold provides EBITDA and Adjusted EBITDA because it believes that investors and securities analysts will find EBITDA and Adjusted EBITDA to be useful measures for evaluating Diebold’s operating performance and comparing its operating performance with that of similar companies that have different capital structures and for evaluating Diebold’s ability to meet its future debt service, capital expenditures, and working capital requirements. However, EBITDA and Adjusted EBITDA should not be considered as alternatives to net income as a measure of operating results or as alternatives to cash flows from operating activities as a measure of liquidity in accordance with GAAP.

Contacts:

Media Relations:
Mike Jacobsen
APR
+1 330 490-3796
michael.jacobsen@diebold.com

Investor Relations:
Steve Virostek
+1 330 490-6319
stephen.virostek@diebold.com

SOURCE: Diebold, Incorporated

Krispy Kreme acquisition by JAB Beech completed

WINSTON-SALEM, N.C., 2016-Aug-01 — /EPR Retail News/ — Krispy Kreme Doughnuts, Inc. (NYSE: KKD) (“Krispy Kreme” or the “Company”) and JAB Beech Inc. (“JAB Beech”), an indirect controlled subsidiary of JAB Holding Company (“JAB”), today announced the successful completion of the acquisition of Krispy Kreme by JAB Beech. The acquisition was announced on May 9, 2016, and the transaction closed and became effective today following the vote by shareholders of the Company to approve the deal at a special shareholder meeting earlier in the day.

Under the terms of the transaction, Company shareholders will receive $21 per share in cash for each share they own. As a result of the completion of the acquisition, Krispy Kreme’s common stock will cease trading as of today on the New York Stock Exchange.

About Krispy Kreme
Krispy Kreme is a leading branded specialty retailer and wholesaler of premium quality sweet treats and complementary products, including its signature Original Glazed® doughnut. Headquartered in Winston-Salem, NC, the Company has offered the highest quality doughnuts and great tasting coffee since it was founded in 1937. Today, there are over 1,100 Krispy Kreme shops in more than 26 countries around the world. Connect with the Krispy Kreme brand at www.krispykreme.com.

About JAB
JAB Holding Company is a privately held group focused on long-term investments in companies with premium brands, attractive growth and strong margin dynamics in the Consumer Goods category. The group’s portfolio includes controlling stakes in Keurig Green Mountain, a leader in single-serve coffee and beverage technologies, Jacobs Douwe Egberts (JDE), the largest pure-play FMCG coffee company in the world, Coty Inc., a global leader in beauty, and in luxury goods companies including Jimmy Choo, Bally and Belstaff. JAB also has controlling stakes in Peet’s Coffee & Tea, a premier specialty coffee and tea company, Caribou Coffee Company, a specialty retailer of high-quality premium coffee products, Einstein Noah Restaurant Group, Inc., a leading company in the quick-casual segment of the restaurant industry, and in Espresso House, the largest branded coffee shop chain in Scandinavia. JAB also owns a minority stake in Reckitt Benckiser PLC, a global leader in health, hygiene and home products. In July 2015, Coty announced it had reached a definitive agreement to purchase some of Procter & Gamble’s beauty brands to create one of the world’s largest cosmetic companies. JAB is overseen by its three Senior Partners, Peter Harf, Bart Becht (Chairman) and Olivier Goudet (CEO). For more information, please visit the company’s website at: http://www.jabholco.com.

Contact:

For JAB:
Abernathy MacGregor
Tom Johnson/Pat Tucker, 212-371-5999

Krispy Kreme Media:
Darryl Carr, 336-726-8996

Krispy Kreme Investor Relations:
Anita Booe, 336-703-6902

Source: Krispy Kreme

LCP to manage Erith Riverside Shopping Centre following its acquisition by Evolve Estates Ltd

London, 2016-Jul-07 — /EPR Retail News/ — Erith Riverside Shopping Center becomes part of Evolve Estates Ltd’s growing UK investment portfolio that now stands at over £190m in value and includes over 60 properties.

Evolve Estates have purchased the long leasehold on the shopping center, the freehold of which is owned by the London Borough of Bexley.

The purchase comes just months after the London Borough of Bexley was successful in securing regeneration funding from the Greater London Authority for a number of projects to improve Erith town centre.

Sebastian Macdonald-Hall, Director of Evolve Estates says “We are excited for this opportunity to work with the local council as part of the regeneration of Erith town centre.  We are keen to make improvements to the tenant mix and want to actively manage the asset to improve the town center, which will benefit the local community and our business.”

Julian Diamond, LCP asset manager, said: “We have a close working relationship with Evolve Estates, and our wealth of experience in the retail property sector means we can manage Erith Riverside Center proactively to deliver benefits for the local community, the tenants, and for Evolve Estates.”

Gill Steward, Bexley’s Chief Executive, says “We are excited about Erith’s potential and the purchase of the shopping centre by Evolve is a positive step. We hope to work with them in the coming months and years as the regeneration program for the town gets into full swing.”

Ben Tyack, Director at Savills, who advised Evolve Estates on the Erith acquisition, says: “We were delighted to secure this asset on behalf of Evolve Estates in what was a competitive bidding process. There are still areas in London and the south-east with good growth potential into the medium term, this being a prime example.”

Media Enquiries:

If you have any media enquiries please email kyates@lcpproperties.co.uk

Source: London & Cambridge Properties