Retail Acquisitions in 2020

MARQUE Luxury has acquired Closet Full of Cash, an online guide and resource for wholesale vintage shopping and luxury resale, gaining rights to the guide's published books. The acquisition expands MARQUE's content and educational offerings (including resources for its MARQUE Mentor membership) and brings Closet Full of Cash founder Deanna Thompson into MARQUE's operations.

Franchise Group, Inc. has completed its acquisition of FFO Home, a regional furniture and mattress retailer. More than 30 FFO Home stores across the Midwest will be rebranded as American Freight Furniture, Mattress, Appliance, with customers redirected to the American Freight website and the addition of appliances, financing options and same-day delivery for in-stock items.

Sycamore Partners, through affiliate Premium Apparel LLC, completed the purchase of the Ann Taylor, LOFT, Lou & Grey and Lane Bryant brands from ascena retail group as part of Ascena’s Chapter 11 restructuring. Premium Apparel committed to retaining a substantial portion of the brands’ retail stores, associates and corporate operations as Sycamore expands its retail portfolio.

GrowGeneration Corp. (NASDAQ: GRWG) acquired Grassroots Hydroponics, a three-store chain of hydroponic garden centers in Southern California (Anza, Lake Elsinore and Murrieta). The acquisition expands GrowGeneration's California footprint to 13 stores and its national retail footprint to 39 locations, adding a high-volume, revenue-generating presence in the Southern California cultivation market.

RV Retailer, LLC has acquired Golden Gait Trailers & RVs (Charlotte/Concord, NC) and Camptown RV (Benson/Raleigh, NC) to expand its presence in the Carolinas. Both locations will be rebranded as RV One Superstores (while retaining the GGT specialty trailer brand), adding sales, parts and service capacity as part of RV Retailer's regional growth strategy.

OneWater Marine Inc. completed the acquisition of substantially all assets of Tom George Yacht Group, adding two locations that deepen the company's presence on Florida's west coast (Clearwater and Dunedin). Tom George Yacht Group, an authorized dealer and full-service yacht brokerage and service provider with over $30 million of trailing-12-month revenue, will join OneWater's network to expand new and pre-owned boat sales, brokerage, and service & parts offerings.

Camping World Holdings, Inc. has agreed to acquire Paul Sherry RV, a single-location RV dealership in Piqua, Ohio. The acquisition will expand Camping World's retail footprint in the greater Dayton, Ohio market and the Paul Sherry location will be rebranded as Camping World.

RV Retailer, LLC, a Fort Lauderdale-based RV retail operator, acquired Sierra RV in the Salt Lake City market, marking RV Retailer’s first location in Utah and expanding its Western U.S. footprint. The acquisition adds a 90,000 sq. ft. flagship dealership with a 32-bay service center and roughly 80 employees to RV Retailer’s network of stores.

Camping World Holdings agreed to acquire All RV Needs, a South Medford, Oregon RV dealer, and will rebrand the location as Gander RV. The acquisition expands Camping World’s retail footprint in Oregon to five SuperCenters and supports the company’s local growth and customer service strategy.

Denver-based United Flea Markets acquired Treasure Aisles Flea Market in Monroe, Ohio, marking the buyer’s 14th property and its first in Ohio. The seller, Levin Service Company, will retain most employees while United Flea Markets plans infrastructure upgrades, enhanced Wi‑Fi, refreshed signage, marketing and technology platform improvements.

Rinse, the San Francisco-based on-demand laundry and dry-cleaning service, has acquired Dryv, a Chicago-based dry cleaning and laundry provider, to accelerate its expansion in the Chicago market. The acquisition gives former Dryv customers access to Rinse’s broader service set — including subscription offerings and corporate laundry benefits — and strengthens Rinse’s national footprint.

GrowGeneration Corp. completed the acquisition of The GrowBiz, a five-store chain of hydroponic garden centers operating in California and Oregon. The deal expands GrowGeneration’s retail footprint to 36 stores, adds approximately $50 million in annual revenue and additional experienced personnel to the company’s operations.

Camping World Holdings, Inc. has signed an agreement to acquire four Noble RV dealership locations in Minnesota (Owatonna, Madelia, Oronoco and Jordan), with the transaction expected to close in December 2020. The acquisition increases Camping World's Minnesota footprint to eight RV SuperCenters and is part of the company's broader expansion across the Midwest and nationwide.

Refuel Operating Company, LLC, a Charleston-based convenience store and fuel-distribution platform backed by First Reserve, agreed to acquire the operating assets of Holmes Oil, Inc. (Cruizers), including 26 convenience stores and a wholesale fuel distributorship in the Raleigh–Durham, North Carolina market. The undisclosed deal is an add-on to Refuel's platform and expands its store footprint and regional density in North Carolina.

EG Group has entered into a binding agreement to acquire Schrader Oil, a family-owned operator of 18 convenience retail stores and fuel stations in Northern Colorado. The acquisition expands EG Group's U.S. network (Loaf 'N Jug) and will see Schrader sites rebranded to Loaf 'N Jug; the transaction is expected to close by end of 2020 subject to regulatory approvals.

goPuff has entered into a definitive agreement to acquire BevMo! for $350 million, accelerating goPuff's expansion into California and the West Coast. The deal gives goPuff access to BevMo!'s 161 stores across California, Arizona and Washington and is expected to close within 30 days subject to customary conditions.

Kingswood Capital Management, LP completed the acquisition of substantially all assets of MEC (Mountain Equipment Co-op) through Canada’s Companies' Creditors Arrangement Act. Kingswood said it will preserve most stores and staff, invest in MEC's retail and online experiences, and lead the business from a Vancouver headquarters under CEO Eric Claus.

West Lane Capital Partners LLC has acquired a majority stake in Non-Foods Marketing Corp. (NFM), a New York–based national buying service and product developer that sells products under the Living Concepts brand. Founder and CEO Tony Gusta will remain an owner and continue as CEO as West Lane plans to expand NFM's customer, product and vendor base and broaden distribution domestically and internationally; terms were not disclosed.

GrowGeneration Corp. (NASDAQ: GRWG) acquired Big Green Tomato, a two-store hydroponic and garden supply chain operating in Battle Creek and Taylor, Michigan. The deal adds two retail locations (including purchase of a 10,000 sq ft Battle Creek property), strengthens GrowGeneration's presence in Michigan and expands its footprint in the commercial and recreational cannabis cultivation end market.

Leonard Green & Partners completed a strategic minority investment in Eyemart Express, joining majority stakeholders FFL Partners and the Barnes Family, who will retain majority ownership. The transaction (terms undisclosed) provides growth capital without adding incremental debt and is intended to support Eyemart Express’s continued store expansion, systems investments, and potential strategic acquisitions.

GrowGeneration Corp. acquired Hydroponics Depot, Phoenix’s largest indoor and outdoor garden center, marking GrowGen’s entry into Arizona and expanding its retail footprint to 29 stores across 11 states. The acquisition provides GrowGeneration exposure to Arizona’s growing medical and potential recreational cannabis market; Hydroponics Depot reported year-to-date sales in excess of $5 million and ~50% year-over-year growth.

Rite Aid Corporation has agreed to acquire family-owned Bartell Drugs in a $95 million transaction. Bartell Drugs will continue to operate under its name across 67 Seattle-area stores, expanding Rite Aid's presence in the greater Seattle market and complementing its pharmacy and health services.

Global private equity firm TPG will invest ₹1,837.5 crore in Reliance Retail Ventures Limited (RRVL), taking a ~0.41% fully diluted stake and valuing RRVL at a pre-money equity value of ₹4.285 lakh crore. The minority growth investment, made from TPG's TPG Capital Asia fund, is intended to support Reliance Retail's New Commerce transformation and expansion of its omnichannel and merchant platform.

An affiliate of private equity firm Sun Capital Partners has made a minority growth investment in Mancini's Sleepworld, a family-owned mattress retailer serving Northern California. Terms were not disclosed; Sun Capital said it will partner with promoted CEO Marc Fey and Chairman Randy Mancini to drive sales growth, expand e-commerce and broaden the company's geographic footprint.

Tellus Equipment Solutions, LLC has acquired Ag-Pro Texas, LLC, including all 21 full-service Ag-Pro Texas dealership locations in central and south Texas. The deal makes Tellus one of the largest John Deere agriculture and turf dealers in North America and brings Jeff Donaldson on board as Chief Operating Officer to lead sales, parts, service and operations.

Investcorp and China Resources Capital Management (with participation from Fung Strategic Holdings) agreed to acquire a majority ownership position in City Super Group, while existing shareholders including Fenix Group and the Lane Crawford Joyce Group will retain a 35% stake. The deal — subject to PRC merger control approval and expected to close in Q4 2020 — aims to accelerate City Super Group's expansion across Greater China and Asia while keeping the current management team in place.

Logan, Utah-based Malouf has acquired Salt Lake City-headquartered retailer Downeast, combining Malouf’s bedding, home and wholesale capabilities with Downeast’s apparel retail footprint. The deal was completed after discussions that began in late 2019 and is intended to align product offerings, expand channels, and leverage technology and retail capabilities across both businesses.

Brighton Partners completed a platform investment in Read's Uniforms, a multi-location uniform distributor headquartered in Asheville, North Carolina. Brighton provided the company's first institutional capital in September 2020 and plans to support a roll-up strategy, expand the sales team and scale the company's e-commerce and omnichannel capabilities.

Bogopa Service Corporation, the family-owned operator of Food Bazaar supermarkets, acquired the Fairway Market location in Westbury, New York. The purchase is part of Bogopa’s recent string of Fairway store acquisitions as it expands its Food Bazaar footprint while retaining existing employees and continuing e-commerce service via Instacart.

Dufry AG Group, Hudson’s controlling shareholder, agreed to acquire all outstanding Hudson shares it does not already own for $7.70 per Class A share, taking Hudson private and delisting it from the NYSE. The transaction (approved by Hudson’s independent special committee and Dufry’s board) aims to reintegrate Hudson into Dufry to facilitate execution of their travel retail strategy and is expected to close in Q4 2020 subject to customary approvals and financing conditions.

Red White & Bloom Brands Inc. announced it has exercised its option to acquire 100% of PharmaCo, Inc. through its wholly owned subsidiary MichiCann Medical Inc., issuing up to 37 million units as consideration subject to regulatory approvals. The move gives Red White & Bloom a direct entry and a significant retail footprint in the Michigan cannabis market as part of the company's multi-state expansion strategy.

South Korean private equity firm VIG Partners has acquired supermarket chain Homenuri Mart in a bolt-on deal to its existing portfolio company Winplus. The acquisition aims to create synergies across distribution and retail operations—building on earlier deals including Winplus's takeover of parts of Hanwha Hotels & Resorts' food service business.

GrowGeneration Corp. purchased substantially all assets of H2O Hydroponics, LLC to open a new 15,000 sq. ft. super hydroponic garden center in Lansing, Michigan that will operate as a retail/commercial location and fulfillment center. The acquisition expands GrowGeneration’s Michigan footprint and supply-chain capabilities; management expects the consolidated Lansing location to generate over $7.0 million in sales (H2O reported ~ $4.0 million in 2019).

1847 Holdings LLC completed the acquisition of Asien's Appliance, a long-running Bay Area appliance retailer based in Santa Rosa, California. The purchase adds a retail and service-focused appliance business to 1847 Holdings' portfolio as the company looks to grow market share and expand its operating subsidiaries.

Coast Appliances has acquired Colony Appliances, a long-standing appliance store in North Vancouver, adding the 6,700 sq. ft. Colony location to its network and bringing Coast’s total Canadian locations to 17. The acquisition expands Coast’s presence on the North Shore and preserves the Colony name and product assortment for local customers.

RV Retailer, LLC has acquired Cousins RV, adding three retail locations in Denver, Colorado Springs and Loveland and marking RV Retailer's entry into the Colorado market. The deal, supported by RV Retailer's capital partner Redwood Capital Investments, expands RV Retailer's multi-location footprint and provides a platform for further growth in the western U.S.

True has made a growth investment in UK-based fashion and lifestyle brand hush, partnering with founders Mandy Watkins and Rupert to support the brand's next phase of expansion. The digital-first retailer (sales > £50M) will leverage True's consumer network and resources to scale into new channels and international markets while continuing to operate under existing management.

Motivity Capital Partners and Farragut Capital Partners have closed an investment in Bling Boutique LLC, an 11-store women's apparel and accessories boutique chain based in Wichita, Kansas. Founders Nicole Hedges-Campos and Mark Campos will continue to run the company as the investors provide growth capital to support the next phase of expansion in secondary and tertiary markets.

TSI US Holdings Co., Ltd., the U.S. subsidiary of Japan-based TSI Holdings Co., Ltd. (TYO: 3608), acquired an 88% majority stake in action-sports retailer Tactics. Co-founders Bob Chandler, Matt Patton, and Shawn Gilliam retain minority ownership and will continue as senior executives (Chandler named CEO); the deal gives TSI greater penetration into the action sports/streetwear market across e-commerce and retail channels.

ASB Sports, an affiliate of Trivest Partners, acquired the team sports division of Universal Athletic, headquartered in Bozeman, Montana. The deal expands ASB's nationwide sales coverage, brings management talent into the combined business (with Universal executives joining and investing), and leaves Universal Athletic's retail stores as a separately operated business.

GrowGeneration Corp. purchased the assets of Florida-based Healthy Harvest, adding approximately $12.0 million in annual revenue and a 15,000+ sq. ft. warehouse/retail location. The Healthy Harvest owners will remain with the business as Director of Southeast Region and Director of Latin American Markets, extending GrowGeneration's footprint into Florida, Puerto Rico, the Caribbean and South America.

Authentic Brands Group (ABG), Simon Property Group and Brookfield Property Partners have completed the acquisition of fast-fashion retailer Forever 21. The new ownership group will retain Forever 21’s Los Angeles headquarters, continue store operations and eCommerce, and pursue brand revitalization, international licensing and sustainable supply-chain improvements.

ACON Investments led a recapitalization and acquisition of Bargain Holdings, L.L.C. (doing business as Bargain Hunt). The transaction (terms undisclosed) will strengthen Bargain Hunt's balance sheet and support the company's growth plan, including investments in merchandise, technology and other operational initiatives; Bargain Hunt operates 90 stores and is headquartered in La Vergne, Tennessee.

Gart Capital Partners, a Denver-based private equity partnership, has acquired Work World, a Vacaville, California specialty retailer of workwear, footwear and PPE that operates 23 stores across California and northern Nevada and an online channel. Work World co-owner Dan Meyer will remain in leadership and as an investor post-transaction; Gart Capital intends to grow the business through new stores and strategic acquisitions.