Retail Acquisitions in California

TNAG Global, the family-owned steward of heritage instrument brands, has acquired Norman's Rare Guitars, the legendary Los Angeles vintage guitar shop founded by Norman Harris. The shop will remain at its Ventura Boulevard location with its team intact while TNAG integrates inventory into its Exchange consignment platform and expands the brand's global reach.

Authentic Brands Group has completed a transaction to take GUESS? private, acquiring 51% of substantially all GUESS? intellectual property while existing GUESS? shareholders (the Marciano family and others) retain 49% of the IP. Current GUESS? management will own and operate the operating company and continue to run the business, with the deal intended to accelerate brand growth, category and geographic expansion through Authentic's platform.

Oakley Capital Fund VI has made an investment in Low Tides Holdings LLC, a partnership entity formed with luxury apparel and lifestyle brand James Perse. The capital will support James Perse's global expansion and marketing initiatives while backing its retail and direct-to-consumer growth.

Spectrum Wine, a global fine-and-rare wine marketplace headquartered in Santa Ana, California, has acquired Wine Exchange (WineX), a long-established Orange County fine-wine retailer founded in 1982. The deal combines Spectrum's auction, international marketplace and storage capabilities with WineX's curated inventory, digital retail experience and loyal customer base to create an integrated destination for fine and rare wine.

A partnership comprised of Worldwide Golf and Capitol Hill Group completed a merger to take Big 5 Sporting Goods private, with Big 5 surviving as a wholly owned subsidiary of the partnership. Under the deal, Big 5 stockholders will receive $1.45 per share in cash; the buyers said the combination pairs Capitol Hill Group's capital with Worldwide Golf's specialty retail expertise to re-energize growth.

Mitchell Family Office (MFO), a Michigan-based family office, has acquired Cos Bar, the luxury multi-brand beauty retailer founded in Aspen in 1976, for an undisclosed amount. MFO said the investment positions Cos Bar for omni-channel growth, geographic expansion and capability enhancement as it scales its luxury beauty and consumer portfolio.

Jacksons Food Stores has acquired Redwood Oil Company, operator of the 24-store Redwood Market convenience-store chain in Northern California, nearly doubling Jacksons' California footprint from about 30 to 54 locations. The acquisition gives Jacksons its first made-to-order foodservice capability (Redwood’s Aztec Grill) and will allow the retailer to pilot the program across its wider network while integrating Jacksons products and systems.

Corte Madera–based RH has quietly acquired three trade-focused, high-end furniture and decor brands: Dennis & Leen, Formations, and Michael Taylor Designs. The purchases are intended to expand RH's design capabilities and intellectual property as the company builds a new classic/traditional aesthetic and scales production for broader distribution.

Work World, a Gart Capital Partners portfolio company, has acquired Shoeteria, a Southern California specialty workwear retailer, expanding its retail and B2B footprint in the region. The company also named Shawn Sweeney as CEO to lead omnichannel growth across retail, eCommerce and industrial accounts.

A-Mark Precious Metals, Inc. has acquired Stack's Bowers Galleries (parent: Spectrum Group International, Inc.), adding a leading rare-coin auction house and dealer to its collectibles and precious-metals platform. The deal, advised on the sell-side by D.A. Davidson, expands A-Mark's product and channel capabilities in the numismatic and collectibles markets.

S5 Equity, a Southern California private investment firm, has acquired Howard's Appliances, a nearly 80-year-old Southern California retailer of appliances and mattresses. The firm said it will work with Howard's management to enhance operations, expand offerings and drive growth; financial terms were not disclosed.

ACON Investments, with strategic partner SB360 Capital Partners, acquired a controlling stake in True Religion, the iconic denim and lifestyle apparel brand. The transaction (financial terms undisclosed) will keep True Religion headquartered in Gardena, California and is supported by financing from Second Avenue Capital Partners, Alpha Wave Global and Sagard Credit Partners to accelerate digital and retail capabilities and international growth.

The Cannabist Company (formerly Columbia Care) acquired the Ciencia Labs portfolio earlier in 2024 and is launching the Ciencia Labs brand dreamt in Maryland, with additional markets and products planned for 2025. The acquisition expands The Cannabist Company’s branded product offerings and supports broader retail and wholesale distribution across its dispensary and wholesale channels.

Tulip, a cloud-based retail customer engagement and POS platform, has acquired Humankind, an eCommerce clienteling and conversational commerce SaaS provider. The acquisition integrates Humankind’s eCommerce clienteling product and customers into Tulip’s clienteling platform to deliver a unified omnichannel person-to-person customer engagement solution for retailers.

The Jim Pattison Group has acquired Save Mart Cos., the Modesto, California-based operator of nearly 200 supermarkets (Save Mart, Lucky California, FoodMaxx and Maxx Value), from private equity firm Kingswood Capital Management. Save Mart will remain headquartered in Modesto with Executive Chairman Shane Sampson and the current management team staying in place; the deal includes Yosemite Wholesale and Save Mart office divisions. Financial terms were not disclosed.

Soccer Post, a portfolio company of TZP Group, has completed the acquisition of Soccer Pro, a regional soccer specialty retailer in Northern California. The deal expands Soccer Post’s footprint to 47 community-focused stores across the United States and brings Soccer Pro’s team-uniform and local-club services into the Soccer Post platform as an add-on for geographic and capability expansion.

Blackford Capital, a lower middle market private equity firm, acquired LTD Online Stores, Inc., a San Diego-based patio furniture e-commerce business, wholesale distributor and retail showroom operator. The deal is the third add-on to Blackford's Patio Portfolio (joining Artificial Turf Supply and Starfire Direct) and is intended to expand the platform's high-end furniture offerings and diversify distribution channels.

GigaCloud Technology Inc. completed an asset acquisition of Noble House Home Furnishings LLC for approximately $85 million in cash. The deal adds more than 2.3 million square feet of warehouse capacity, inventory, brands and customer contracts to GigaCloud’s B2B marketplace, expanding its distribution, supply-chain and logistics capabilities and geographic sourcing into Canada and India.

Directional Capital acquired Purple RTO Holdings, a franchisee operating Rent-A-Center locations across the Midwest and Southwest, with subordinated debt and minority equity provided by Spring Capital Partners IV alongside NewSpring Mezzanine and Salem Investment Partners. The transaction covers Purple’s ~63 retail Rent‑to‑Own locations (branded Purple Cactus and Purple Horseshoe) and expands Directional’s retail footprint.

Camping World Holdings, Inc. has acquired All Seasons RV, an RV dealership located at 3300 Colusa Hwy in Yuba City, California. The acquisition expands Camping World's retail footprint in California and brings the company's dealership count to 198 locations.

Brand Velocity Group (BVG) has made a strategic growth equity investment in Jaya Apparel Group, owner of the Cinq à Sept and Likely fashion brands. The capital will be used to expand global distribution, open additional brick-and-mortar stores, and accelerate marketing and e‑commerce growth; founders Jane Siskin and Jalal El Basri remain in management.

A-Mark Precious Metals announced that its wholly-owned subsidiary JM Bullion has acquired certain assets of BullionMax, an established online precious metals dealer. The assets include BullionMax's website, intellectual property, and customer and newsletter subscriber lists; JM Bullion will operate BullionMax as a standalone brand to expand A-Mark's direct-to-consumer portfolio.

EarthWise Pet, a Woodinville, Washington–based pet franchise operator, has acquired California-based PET DEPOT, expanding EarthWise's systemwide store count to more than 200 locations. The acquisition brings PET DEPOT's retail stores and complementary veterinary hospitals under the EarthWise Pet banner to broaden franchise offerings and veterinary services.

Lolë, the Montreal-born apparel brand, has acquired San Francisco-based sustainable womenswear label époque évolution. The founder Nancy Taylor will continue leading époque évolution while also joining Lolë as Head of Design and Creative Director, and the brands plan to expand époque évolution across Lolë retail locations, ecommerce and select boutiques in North America and Europe.

Sprouts Farmers Market, Inc. acquired two independently owned, licensed Sprouts stores in Chula Vista, California, bringing the locations under company control. The move gives Sprouts full control of the brand at those locations and supports expansion in the San Diego/Southern California market.

Camping World Holdings, Inc. has agreed to acquire RV Solutions Inc., a family-owned RV dealership group in San Diego, California, including two dealerships (RV Solutions and Airstream of San Diego) and a standalone parts and service center in El Cajon. The dealerships will be rebranded to operate as Camping World RV SuperCenters; the transaction is expected to close in the first quarter of 2023.

Los Angeles-based private equity firm Nexus Capital Management LP led a strategic growth investment in Lamps Plus, the nation's largest specialty lighting retailer. The capital will partner with founders Dennis and Manja Swanson to support Lamps Plus's next phase of growth as an omnichannel retailer across ecommerce and physical stores.

Funds managed by Apollo (Apollo Funds) agreed to acquire Cardenas Markets from investment funds affiliated with KKR and will combine Cardenas with Apollo portfolio company Tony's Fresh Market to create a leading Hispanic- and ethnic-focused grocer. The combined business will operate across California, Nevada, Arizona and the Midwest with nearly 80 stores and approximately $1.8 billion in combined revenues; financial terms were not disclosed.

Cardenas Markets is acquiring six Rio Ranch Market stores located in Chino, Banning, Fontana, Perris, Riverside, and San Bernardino, with the group of stores to be gradually integrated into Cardenas' operations. The transaction is expected to close by mid-July 2022; Rio Ranch Markets founded in 1983 will transition the stores while The Food Partners served as advisor to Rio Ranch Market.

Rainier Partners, a Seattle-based lower-middle-market private equity firm, has made a growth investment in Pet Food Express (PFE), a California-based omnichannel pet retailer with more than 60 stores. The investment will support PFE's e-commerce acceleration and expansion of its brick-and-mortar footprint while partnering with founder Michael Levy and the existing management team.

Camping World Holdings, Inc. has agreed to acquire Richardson's RV Centers, adding eight locations (five dealerships, one future dealership and two parts/service centers) across California and Indiana. The deal strengthens Camping World's position as the leading RV dealer in California and expands its retail and service footprint.

RV Retailer, LLC (operating as Blue Compass RV) announced it has acquired Manteca Trailer and Motorhomes in Manteca, California, with the deal expected to close in June. The acquisition expands RV Retailer’s footprint in California and marks the company’s 100th retail location, bringing the dealer network additional sales and service capacity in the Stockton/Modesto trade area.

Regent, L.P. acquired all remaining corporate-owned Drybar shops from Drybar Holdings, through an affiliate, and will operate 57 Drybar locations. As a result, Regent becomes Drybar's largest franchisee under franchisor WellBiz Brands and will operate the acquired salons across the United States.

Los Angeles-based private equity firm Kingswood Capital Management has acquired The Save Mart Companies, a Modesto, California-based grocery operator that runs approximately 200 stores under the Save Mart, Lucky California and FoodMaxx banners. The Piccinini family will exit ownership and Kingswood said the acquisition expands its Northern California retail presence; terms were not disclosed.

DENNIS Uniform has joined forces with Mills Uniform Company to combine their school-uniform businesses, bringing together over 175 years of experience and expanded coast-to-coast coverage. All Mills employees were retained and owner Suzette Mills will remain a board member, shareholder and executive in the combined business to support continued service to schools and families in-store and online.

Digital Brands Group, Inc. (NASDAQ: DBGI) signed a definitive agreement to acquire Sundry, a privately‑owned omnichannel women's lifestyle apparel brand headquartered in Los Angeles. The transaction consideration includes approximately $7.5 million in DBGI common stock, $20.0 million in cash at closing and $14.0 million in promissory notes, and is expected to close late in the first half of 2022; DBGI said the acquisition will expand its brand portfolio, drive scale and marketing synergies across its platform.

Comvest Partners has completed the sale of Robbins Brothers, a high-end bridal jewelry retailer, to the Robbins Brothers executive management team, Main Street Capital Corporation (NYSE: MAIN), and other co-investors. Robbins Brothers, headquartered in Azusa, California and operating 15 stores plus online, was a Comvest platform company and will continue growth under the new ownership.

Vino Vault acquired The Wine Locker, a longtime private wine locker and storage business in Los Angeles’ San Fernando Valley, marking Vino Vault’s third L.A. acquisition. The deal brings The Wine Locker into Vino Vault’s network where the buyer plans upgrades to security and temperature controls, rollout of an inventory management app and expanded member services; owner Cindy Jason will remain involved in the community aspects.

Gold Flora, a vertically-integrated California cannabis operator based in Costa Mesa, has acquired Airfield Supply Company, a leading San Jose dispensary with on-site cultivation, manufacturing and delivery licenses. The deal closed December 31, 2021; Airfield founder and CEO Marc Matulich will remain in his role and the Airfield brand, management, and staff will be retained as Gold Flora expands its retail and cultivation footprint in California.

Sonsray Machinery, a CASE construction equipment dealer based in Torrance, California, has acquired Booth Machinery, a Case IH agricultural equipment dealership. The deal adds five Booth Machinery locations (Bakersfield, Five Points, Fresno and Salinas in California, and Yuma in Arizona) and expands Sonsray into the agriculture market and parts/service footprint.

Foot Locker agreed to acquire West Coast footwear and apparel retailer WSS from Dallas-based private equity firm Riata Capital Group for $750 million. The acquisition expands Foot Locker's portfolio and footprint in Hispanic-focused, inner-city markets and is expected to accelerate WSS's unit growth and omni-channel initiatives.

GrowGeneration Corp. (NASDAQ: GRWG) has acquired Commercial Grow Supply, a hydroponic superstore in Santa Clarita, California, founded in 2011 by Sevan Derohanian. The acquisition (Commercial Grow Supply had annual revenue near $10 million) expands GrowGeneration’s footprint in Southern California and increases its California store count to 22 as the company continues to scale its national retail network.

GrowGeneration Corp. acquired The Harvest Company, a Northern California hydroponic supply center with stores in Redding and Trinity County, to expand its footprint in the Emerald Triangle cannabis market. The Harvest Company's 16 employees joined GrowGeneration and founder Robert Masterson will remain in an advisory role.

MKH Capital Partners launched a European Wax Center franchise platform called Wax Center Partners and, in partnership with the Stieber EWC franchise, acquired 11 European Wax Center locations in California. The deal creates a platform to pursue further unit growth and additional acquisitions across new and existing markets.

Bodega Latina Corporation, a U.S. subsidiary of Grupo Comercial Chedraui, has entered into a definitive agreement to acquire Smart & Final Holdings, Inc. from funds managed by affiliates of Apollo Global Management for approximately $620 million, including assumed indebtedness. Smart & Final — a Commerce, California–based grocery warehouse chain operating ~254 stores and employing over 11,000 people — will operate as a separate unit within GCC and the deal expands GCC/BLC's U.S. footprint.

Rinse, a San Francisco–based tech-enabled dry cleaning and laundry pickup & delivery service, has acquired ButlerBox, a Los Angeles–based locker-focused dry cleaning and laundry provider. The deal expands Rinse's presence and customer base in Los Angeles and preserves ButlerBox's multifamily and commercial office partnerships while offering ButlerBox customers Rinse's broader services and subscription options.

Pan Pacific International Holdings (PPIH) has agreed to acquire Gelson's Markets, the Southern California premium supermarket chain, from TPG Capital. The transaction, subject to customary closing conditions, was announced with an expected close in the second quarter of 2021 and is positioned to support Gelson's future growth under PPIH's global retail platform.

GrowGeneration Corp. (GrowGen) acquired San Diego Hydroponics & Organics, a four-store chain of hydroponic, organic and aquaponics garden centers in San Diego County, California. The acquisition adds roughly 20 employees and more than 20,000 square feet of retail space to GrowGen’s nationwide footprint, bringing the company to 50 stores and expanding its presence in Southern California.

Kingswood Capital Management has completed its acquisition of Cost Plus World Market from Bed Bath & Beyond. The Alameda, California–headquartered specialty home goods retailer (approximately 245 stores and a robust e-commerce channel) will operate independently under Kingswood leadership, with Alexander W. Smith joining as Executive Chairman; acquisition financing was provided by Wells Fargo, Bank of America and Callodine Commercial Finance.

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.