Retail Acquisitions in United States

Go Global Retail completed the acquisition of HATCH Collection, a premium maternity fashion and lifestyle brand, through its platform Janie and Jack Holdings, Inc. HATCH will continue operating from its base in New York, while Janie and Jack remains headquartered in San Francisco. The acquisition was financed through Janie and Jack Holdings along with a senior secured credit facility provided by MidCap Financial.

Rmarts LLC acquired two legacy Shell-branded gas stations with convenience stores in Highland Park, Illinois, from longtime Shell operator John Kyle Sr., closing the transaction in June. Rmarts plans to rebrand the sites to the Rmarts banner and invest in upgrades including interior remodels, enhanced foodservice and coffee programs, and potential EV charging at one location.

ZT Automotive, a division of ZT Corporate, expanded into Alabama by acquiring 13 automotive dealerships previously owned by Greenway Automotive Group. The acquired stores include Toyota, Honda, Nissan, and Chrysler Dodge Jeep Ram FIAT dealerships in Florence and Tuscumbia, and select locations will be rebranded under the “Singing River” name. Haig Partners advised the seller and BMO provided debt financing for the transaction.

7-Eleven announced it has completed the acquisition of Stripes Convenience Stores from Sunoco LP, adding Stripes’ convenience store footprint to its network. The transaction also brings Laredo Taco Company restaurants under 7-Eleven’s ownership. The deal was reported to be valued at roughly $1 billion and includes a combined 204 store locations.

Grocery Outlet Holding Corp. has agreed to acquire United Grocery Outlet (UGO), a discount grocery retailer operating across the Southeastern United States. UGO is being purchased from affiliates of Gen Cap America, Inc. and current and former UGO management, adding 40 stores and a distribution center and expanding Grocery Outlet’s footprint into multiple new Southeast states. The transaction is expected to close early in the second quarter, subject to customary closing conditions.

Shoe Carnival acquired Rogan's Shoes for $45 million, funded entirely with cash on hand. Rogan's Shoes operates 28 stores across Wisconsin, Minnesota, and Illinois, and will be integrated under Shoe Carnival’s Shoe Station banner as part of an 18-month plan to drive synergies and expand Shoe Carnival’s Midwest footprint.

Municipal Emergency Services, Inc. (MES), a portfolio company of Platte River Equity, acquired U.S. Uniform & Supply, Inc., with the transaction closing on June 16, 2023. U.S. Uniform & Supply, based in Indianapolis, Indiana, provides uniforms, equipment, and supplies for emergency service personnel, and will be integrated into MES to expand offerings and strengthen MES’s presence in the Indianapolis market.

New York City-based Shopper's World, owned by the Dushey family, has agreed to acquire discount retailer Forman Mills for an undisclosed price. The deal comes amid warnings that Forman Mills could file for Chapter 11 and conduct layoffs if a sale did not close, and Shopper's World expects to continue operating all Forman Mills locations.

Camping World Holdings, Inc. announced it is set to acquire Hitch RV, an RV dealer with three locations across Delaware, Pennsylvania, and New Jersey. The transaction is expected to close in the third quarter of 2023 and will expand Camping World’s footprint in the Northeast, including its first entry into Delaware.

WHP Global and Express, Inc. (EXPR) announced a definitive agreement to acquire menswear brand Bonobos, Inc. from Walmart Inc. for a combined $75 million. WHP Global will acquire the Bonobos brand for $50 million, while Express will acquire Bonobos’ operating assets and assume related liabilities for $25 million and will operate the U.S. eCommerce, Guideshop, and wholesale businesses under an exclusive long-term license from WHP Global. Bonobos will remain headquartered in New York.

Southern Tire Mart LLC acquired Friend Tire Co., a wholly owned subsidiary of Yokohama Tire Corp., for undisclosed terms. The deal adds nine Friend Tire-owned distribution centers that are now operating as Southern Tire Mart outlets and transfers Yokohama brand sales rights previously held by Friend Tire to Southern Tire Mart.

Global Partners LP and ExxonMobil signed an agreement to acquire 64 Houston-area convenience and fueling facilities from the Landmark Group, subject to regulatory approval and customary closing conditions. The assets are expected to be acquired in the second quarter of 2023 through their joint venture, Spring Partners Retail LLC, with Global serving as the operator and management company.

Continuum Ventures, the investment business of the Doug and Maria DeVos family, made a strategic investment in Action Water Sports (AWS) to support the company’s continued growth. AWS president Jerry Brouwer will remain an owner and continue leading the business.

The Cigarette Store LLC (TCS), doing business as Smoker Friendly, acquired Tobacco Superstores, a 79-store tobacco retail chain based in Forrest City, Arkansas. The acquired stores across Arkansas, Tennessee, Mississippi, Missouri, and Kentucky will be rebranded as Smoker Friendly and will add Smoker Friendly cigarette and tobacco product lines.

Velocity Truck Centers (VTC), part of Velocity Vehicle Group, acquired Neely Coble Company, Inc., expanding VTC’s commercial vehicle dealership footprint from the U.S. Southwest into central Tennessee, northern Alabama, and southern Kentucky. Neely Coble’s dealerships sell and service brands including Freightliner, Western Star, and Isuzu in the Nashville (TN), Huntsville/Decatur (AL), and Bowling Green (KY) metro areas.

PPL Motorhomes (PPL) announced the acquisition of RV Swapshop, an RV consignment dealership located in Summerfield, Florida. The deal marks PPL’s first acquisition outside of Texas and supports its ongoing strategic growth plan. RV Swapshop’s founders Ivon and Brenda Page were credited for building the business, and the existing staff will join PPL.

Funds managed by Apollo have agreed to acquire Cardenas Markets, a Hispanic-focused grocery retailer, from investment funds affiliated with KKR. Following closing, Apollo plans to combine Cardenas Markets with its portfolio company Tony’s Fresh Market while keeping both banners and local leadership in place. Financial terms were not disclosed and the deal is expected to close by Q3 2022, subject to customary conditions.

Cardenas Markets announced it will acquire six Rio Ranch Market grocery stores to expand its presence in Southern California. The stores, located in Chino, Banning, Fontana, Perris, Riverside, and San Bernardino, will be gradually integrated into Cardenas Markets’ operations, with closing expected by mid-July 2022.

GALLS, LLC completed its acquisition of U.S. Patriot Tactical (USP), a military and law-enforcement tactical gear retailer and supplier. The deal combines two major multi-channel distributors serving the U.S. Military individual market, with USP adding dozens of on-base and off-base stores and a dedicated e-commerce presence.

NXTLVL Holdings, LLC (NXTLVL Marine) acquired Austin Boats & Motors, Inc., a family-owned boat dealership serving the Austin, Texas market. The transaction expands NXTLVL Marine’s footprint in Texas, making Austin Boats its fifth dealership location in the state.

RV Retailer, LLC (RVR) announced it will acquire three RV dealership businesses: Airstream of South Carolina, John's RV, and RV Outlet USA, expanding its footprint into Virginia and adding additional locations in South Carolina. The deal brings RV Retailer into its 30th state and increases its total store count to 96. The sellers include the Merricks family (RV Outlet USA) and the Rawl family (Airstream of South Carolina and John's RV).

Funds managed by Apollo Global Management affiliates (the "Apollo Funds") acquired Tony's Fresh Market, a Chicago-based specialty grocery retailer. The founding family will continue to partner with Apollo in management roles and remain shareholders going forward.

Kingswood Capital Management LP has acquired The Save Mart Companies, a California-based regional grocer operating approximately 200 stores under the Save Mart, Lucky California, and FoodMaxx banners. The company is headquartered in Modesto, California, and also operates SMART Refrigerated Transport and has a partnership interest in Super Store Industries. Financial terms of the transaction were not disclosed.

CORE Industrial Partners portfolio company Saylite acquired Southern Lighting Gallery and Charleston Lighting and Interiors (collectively SLG), a premium provider of residential indoor and outdoor lighting fixtures. The acquisition adds SLG’s award-winning showrooms in Augusta, Georgia and Charleston, South Carolina to Saylite’s existing showroom footprint in Texas.

RV Retailer, LLC (RVR) announced it has acquired A&S RV Centers, an RV dealership with two locations in Auburn Hills and Midland, Michigan. The acquisition marks RV Retailer’s entry into Michigan and expands its nationwide footprint to 102 locations. The Andree family was mentioned as the selling family behind A&S RV Centers.

Global Partners LP acquired Wheels of CT, Inc., a family-owned operator of fuel and retail convenience store locations and a wholesale distributor of branded petroleum products in the U.S. Northeast. The deal closed following Hart-Scott-Rodino regulatory approval, and financial terms were not disclosed.

Foot Solutions, Inc. acquired Florida-based specialty footwear retailer Happy Feet Plus, Inc.; financial terms were not disclosed. The deal combines two wellness-footwear and custom-orthotics retailers, expanding Foot Solutions’ footprint in the specialty footwear and orthotic insoles market.

Praesidian Capital exited its investment in House of Television Rentals, Inc. (HOTV) in connection with the sale of the business to Arona Corporation. HOTV is a rent-to-own retailer offering appliances, electronics, and furniture through stores in Western New York and Northwestern Pennsylvania.

RV Retailer, LLC (RVR) has acquired Appleway RV, expanding its footprint in the Pacific Northwest with two additional stores in Washington. Appleway RV operates in the Pasco and Spokane Valley markets, and the deal positions RVR as the #1 RV dealer in Washington based on new RV sales.

Comvest Partners completed the sale of Robbins Brothers, a high-end bridal-focused jewelry retailer, to the Robbins Brothers executive management team, Main Street Capital Corporation, and other co-investors. Robbins Brothers had served as a platform company in Comvest’s private equity portfolio and is headquartered in Azusa, California.

New Look Vision Group entered into a definitive agreement to acquire New York-based Luxury Optical Holdings (LOH), the largest luxury optical retailer in the United States with 34 locations operating under several premium retail banners. New Look Vision Group is acquiring LOH from Monroe Capital and intends to operate LOH as a separate stand-alone business unit under CEO Tim Mayhew; financial terms were not disclosed.

Foot Locker acquired WSS, a Hispanic-focused specialty retailer of athletic, fashion, and work-related footwear and accessories, for $750 million. The business was sold by Riata Capital Group, which had recapitalized WSS in 2016 and supported its subsequent growth and expansion.

Weller Recreation, a powersports dealership based in Kamas, Utah, was recapitalized by affiliates of White Brush Capital. Lakeside Partners acted as exclusive financial advisor to Weller Recreation, with Delfino Madden serving as legal counsel.

Car Wash Owners Network (CWON), a portfolio company of Access Holdings, closed an investment in Flagship Car Wash Center, a leading car wash operator in the Mid-Atlantic. Under the partnership, CWON and Access Holdings plan to support Flagship’s expansion through new site development and M&A while Flagship’s co-owner and president Guy Paolozzi continues to lead the business.

OneWater Marine Inc. signed a definitive agreement to acquire the assets of PartsVu, an online marketplace for OEM marine parts, electronics, and accessories. The deal expands OneWater’s presence in marine parts and accessories and is expected to close in the fourth quarter of 2021.

Surefoot, L.C., a ski boot retailer and custom orthotic designer based in Park City, Utah, announced it has acquired specialty running retailers FrontRunners and Super Runners Shops. Surefoot plans to keep both retail brand names while adding its customization technology to each location and relocating the acquired companies’ headquarters to Surefoot’s Park City offices.

RV Retailer, LLC (RVR) acquired three recreational vehicle dealerships—Mid-State RV (Byron, Georgia), Adventure RV (Cheyenne, Wyoming), and The RV Center (Fort Wayne, Indiana)—to expand its sales and service network. The acquisitions increase RVR’s footprint to 58 locations across 17 states as part of its growth strategy in RV retail and service.

Altamont Capital Partners completed the acquisition of INTERMIX from Gap Inc. The deal includes the entire INTERMIX business, encompassing all assets, stores, and its e-commerce operations.

L Catterton entered into a definitive agreement to acquire a controlling interest in West Marine, a leading U.S. omni-channel marine aftermarket retailer and service provider. The stake is being acquired from Monomoy Capital Partners, with transaction terms not disclosed and closing expected in May 2021 subject to customary conditions.

Refac Holdings, Inc. announced the completion of its acquisition by Lincoln Road Advisors, Inc., a Miami-based private equity group. Refac Holdings is the parent company of U.S. Vision, a major U.S. optical/eyecare retailer operating hundreds of retail locations. Financial terms of the transaction were not disclosed.

DTLR Villa LLC, a portfolio company of BRS & Co., has entered into an agreement to be acquired by JD Sports Fashion Plc. Following the acquisition, DTLR will continue to be led by co-CEOs Glenn Gaynor and Scott Collins, subject to customary closing conditions including HSR Act review.

AUA Private Equity Partners, LLC consummated the sale of Associated Supermarket Group, LLC (ASG) to ASG’s senior management team led by CEO Joe Garcia and EVP & CAO Zulema Wiscovitch. The management buyout was financed by Freedom 3 Capital and other investors. ASG provides distribution, marketing, merchandising, promotional services, and store financing to approximately 230 independently owned grocery stores in the New York Tri-State Area and other cities along the U.S. Eastern Seaboard.

OneWater Marine Inc. completed its acquisition of Walker Marine Group, its largest acquisition to date, to expand OneWater’s footprint in Florida. Walker Marine Group operates five dealership locations in southwest Florida offering new and pre-owned boat sales, service/parts, and finance and insurance products, and generated over $80 million in revenue over the prior twelve months.

RV Retailer, LLC announced the acquisition of Golden Gait Trailers and RVs (GGT) in the Charlotte, North Carolina market and Camptown RV in the Raleigh, North Carolina market. Following the transactions, the stores will be rebranded under RV One Superstores (with the GGT brand retained for specialty trailers) as RV Retailer expands its footprint in the Carolinas.

West Coast Tire Pro, Inc. acquired Tires 2 You LLC, a Renton, Washington-based operator of two Big O Tires franchise locations. The transaction closed on July 19, 2017, with financial terms not disclosed.

Summit Sports has acquired Austin Canoe & Kayak, an omnichannel retailer of kayak, camping, and outdoor adventure gear. Cascadia Capital served as the exclusive financial advisor to Austin Canoe & Kayak in the transaction.

Walgreen Co. has agreed to acquire Jim Myers Drug Inc., a family-owned pharmacy chain with five stores in Tuscaloosa. The transaction is expected to close in June, with Walgreens planning to maintain services such as home delivery and offer jobs to the target’s employees.