Dollar Tree is selling Family Dollar to Brigade Capital Management and Macellum Capital Management for $1 billion, ending a decade-long struggle to integrate the discount retailer. The sale follows years of operational challenges, including supply chain issues and underperforming store locations, ultimately hindering Dollar Tree’s profitability. This divestiture allows Dollar Tree to refocus on its core brand amidst tightening consumer spending and increased competition within the discount retail sector. The new owners plan to address Family Dollar’s pricing and customer loyalty issues. The sale is anticipated to conclude in the second quarter.
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Walgreens Boots Alliance (WBA) has sold its UK subsidiary, Boots, to the US private equity firm Sycamore for $10 billion. This sale follows WBA’s attempts to streamline its business and comes after Boots faced challenges from online retailers and rising costs. Sycamore, known for its turnaround expertise, acquired WBA at a 29% premium, suggesting confidence in Boots’ potential despite recent struggles. Boots’ strong brand recognition and NHS partnerships offer a foundation for future success under new ownership.
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For only $99, readers can enjoy a full year of the Financial Times newspaper, delivered six days a week in print. This exceptional offer also includes complimentary access to the FT Digital Edition, providing convenient access to articles on your preferred device. The subscription covers both print and digital access for Monday through Saturday. This represents significant savings on the standard subscription price.
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Nordstrom, the century-old department store, will be acquired in a deal valued at $6.25 billion. The acquisition will take Nordstrom private, with the Nordstrom family and a Mexican retail group as the primary buyers. Shareholders will receive $24.25 per share, a 42% premium over the March 18th closing price. The Nordstrom family will ultimately hold a majority stake following the transaction’s completion.
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Private equity firm Blackstone has acquired a majority stake in Jersey Mike’s Subs for approximately $8 billion, marking the end of its independent run. Founder and CEO Peter Cancro will retain a significant equity stake and continue leading the company. This investment will fuel Jersey Mike’s expansion domestically and internationally, along with technological advancements. The deal follows Subway’s own sale to Roark Capital, making it the second-largest sandwich chain transaction in recent history.
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Red Lobster, a once beloved seafood chain, has recently filed for bankruptcy. Many have been quick to point fingers at the infamous “endless shrimp” promotion as the culprit, but the reality is far more complex. Private equity firms, known for their ruthless tactics, swooped in and acquired Red Lobster, saddling the company with an insurmountable amount of debt. These investors extracted every last penny from the business, leaving it in shambles before moving on to their next target.
It’s disheartening to see a restaurant that was once a go-to spot for special occasions or romantic dinners fall from grace in such a drastic manner.… Continue reading
I woke up to some devastating news this morning. The 99 Cents Only stores are closing all 371 of their locations, and they have already started their liquidation sales. The worst part about this whole situation is how the employees were informed about the closures – just moments before the stores opened for the day. Not only that, but they were also told that they wouldn’t be receiving their severance pay and that if they didn’t continue to work until the store’s closure, they wouldn’t be eligible for unemployment. It’s truly heartbreaking to see these hardworking individuals treated in such a callous manner.… Continue reading
John Q. Hosedrinker