Latest Posts Under: Retail Industry News

Costco acquires logistics solutions provider Innovel Solutions for $1bn

Costco acquisition of Innovel Solutions : US warehouse clubs chain Costco Wholesale Corporation has acquired Innovel Solutions, a provider of third-party end-to-end logistics solutions for $1 billion from Transform Holdco (TFCO), the operator of the Sears and Kmart stores. For several years, Innovel Solutions has provided US department store chain Sears and, more recently, third […]

Amethis takes minority stake in Kenyan supermarket chain Naivas

Amethis, an Africa-focused investment fund manager, and its partners have bought a minority stake in Kenyan supermarket chain Naivas Group. The other investors joining the France-based Amethis in the acquisition were DEG, MCB Equity Fund and World Bank Group member IFC. The financial details of the transaction were not disclosed. Founded in 1990 by the […]

US Foods to acquire Smart Foodservice Warehouse Stores for $970m

US Foods acquisition of Smart Foodservice : US Foods has agreed to acquire Smart Foodservice Warehouse Stores, an Oregon-based warehouse grocery store chain from funds managed by affiliates of Apollo Global Management for $970 million in an all-cash deal as per the latest retail acquisition news. The US foodservice distributor believes that the acquisition will […]

iAnthus to open Northeast Be. cannabis retail store on Staten Island, NYC

US cannabis cultivator iAnthus Capital will be officially inaugurating its first Northeast Be. cannabis retail store on Staten Island, New York City on 26 March. The company, which owns, operates, and partners with licensed cannabis operations across the US, said that the new retail store of 3,850 square foot space, is located at 338 New […]

PacSun opens two teen apparel stores in Los Angeles and New York City

PacSun, a California-based teen apparel retailer, is expanding with new stores in Los Angeles and New York City. The newly opened PacSun Los Angeles store is spread across 5,000 square feet, while the New York teen clothing store which spans 8,000 square feet is set to open on 19 March. Alfred Chang – PacSun President […]

7-Eleven experiments cashierless store concept at Irving headquarters

7-Eleven cashierless store trial : Convenience stores retailer 7-Eleven is piloting a cashierless store at its corporate headquarters in Irving, Texas. The 700sft experiential store, which carries beverages, groceries, snacks, food, over-the-counter drugs, and non-food items, is available for the retailer’s employees to test the concept of going cashierless. During testing, the employees will download […]

L Brands to sell 55% stake in Victoria’s Secret to Sycamore Partners for $525m

US fashion retailer L Brands has agreed to sell 55% stake in Victoria’s Secret Lingerie to private equity firm Sycamore Partners for about $525 million. As per the terms of the deal, Victoria’s Secret, which has been valued at $1.1 billion, will be separated from the fashion retailer into a privately-held company under the majority […]

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