Retail Acquisitions in Texas

The Watches of Switzerland Group has acquired an 88% stake in Texas-based luxury watch and jewelry retailer Deutsch & Deutsch, with an option to purchase the remaining share capital. The family-owned business operates four showrooms in El Paso, Laredo, McAllen and Victoria and generated combined FY2024 revenue of $67 million; the Deutsch family will remain involved in leadership following the transaction.

Sewell Automotive Companies acquired Land Rover Boerne in Boerne, Texas from Shottenkirk Automotive Group; the transaction closed on November 17 and included the dealership real estate. The Presidio Group served as exclusive advisor to Sewell, and the acquisition expands Sewell's presence in the Texas luxury-brand dealership market.

Omegro, a portfolio within Volaris (Constellation Software), has acquired ClarityRFID (formerly SML IIS), a provider of item-level RFID inventory solutions and services for the retail sector. ClarityRFID will continue to operate independently under Omegro leadership, with the deal intended to expand Omegro's retail capabilities and support ClarityRFID's international growth and customer relationships.

Dallas-based independent sponsor Cascata Capital acquired Ladco, Inc. (Ladco Design Center), the largest luxury to-the-trade home furnishings showroom in Houston, Texas. The transaction provides an ownership transition for co-founders Phillip and Ronnie Ladin (both in their mid-70s) and is expected to support growth through Cascata’s strategic investor network of luxury real estate developers and builders.

Springdale Tractor Company has acquired Schaffer Kubota (to be renamed Kubota of Dallas) from owner Joe Schaffer. The acquisition expands Springdale Tractor Company's Kubota dealership footprint into the Dallas–Fort Worth market; Performance Brokerage Services advised the seller on the transaction.

The Pulte Family Office has taken a position in GrabAGun, the publicly listed company trading under ticker CLBR following a SPAC transaction with Colombier Acquisition Corp. II. The family office said it is encouraged by GrabAGun's growth and profitability, noting the company achieved $99.5 million in revenue and is a fast-growing digitally native firearms and ammunition retailer.

JCPenney and SPARC Group have merged in an all-equity joint venture to create Catalyst Brands, consolidating six retail banners including JCPenney, Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand and Nautica. The new Catalyst Brands — backed by shareholders Simon Property Group, Brookfield Corporation, Authentic Brands Group and Shein — launches from JCPenney’s Plano, Texas headquarters with broad omnichannel reach, approximately $9 billion of revenue, 1,800 stores and roughly 60,000 employees.

NXTLVL Marine, LLC acquired two MarineMax locations in San Antonio and at Lake LBJ (WakePoint), expanding its footprint in Central Texas. NXTLVL will relocate the San Antonio operation into its New Braunfels facility and rebrand/operate the Lake LBJ location at WakePoint, and has been approved as an authorized Nautique Boats dealer.

Casey's General Stores (Nasdaq: CASY) completed the acquisition of Fikes Wholesale, owner of CEFCO Convenience Stores, on November 1, 2024. The deal adds roughly 198 CEFCO locations (148 in Texas and 50 in Alabama, Florida and Mississippi), expanding Casey's store footprint to about 2,900 locations and advancing its geographic growth strategy.

Brightmore Brands, a portfolio company of Beach Point Capital Management, has acquired Texas Thrift, a portfolio of 17 thrift stores, from Brook Valley Management. The add-on expands Brightmore's footprint into Texas and makes the combined company the largest privately held, for-profit thrift chain in North America.

Hudson's Bay Company (HBC) — through its newly created Saks Global business — has agreed to acquire Neiman Marcus Group (NMG) to form a multi-brand luxury retail and real estate platform. The combined company will pair iconic retail brands (Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks OFF 5TH) with technology, first-party data and strategic investors (including Amazon, Rhône Capital, Insight Partners and Salesforce) to drive personalized omnichannel experiences and unlock real estate value.

The Kent Cos., a family-owned Midland, Texas convenience-store operator, has acquired eight Jack's Convenience Stores in West Texas (Midland, San Angelo and Abilene). The acquired locations will be rebranded to Kent Kwik, updated to sell Chevron- or Texaco-branded fuels and integrated into Kent's network to strengthen its West Texas presence.

7-Eleven, Inc. has completed the acquisition of 204 Stripes convenience stores and associated Laredo Taco Company restaurant locations from Sunoco LP in a deal valued at roughly $1 billion. The transaction expands 7-Eleven's U.S. footprint and brings the Stripes and Laredo Taco Company brands under the 7-Eleven corporate family.

The Riverside Company (via its Riverside Micro-Cap Fund) has acquired The Lash Lounge, a leading eyelash salon franchise, from Franworth. The deal adds The Lash Lounge — with more than 129 locations nationwide — as the third brand in Riverside's Head to Toe Brands platform to accelerate growth and geographic expansion in beauty and personal care services.

Tellus Equipment Solutions, a John Deere dealer owned by Cardinal System Holdings, has acquired Bramlett Implement, a John Deere dealership in Stephenville (Erath County), Texas. The acquisition expands Tellus' footprint across South and Central Texas and retains Bramlett's employees while enhancing equipment, parts inventory, and customer support in the region.

Brookshire Grocery Co. has agreed to acquire three Diamond Food Market grocery locations in Henrietta, Mineral Wells and Aubrey, Texas. The stores will reopen under Brookshire banners (one as Brookshire's, two as Spring Market) after a brief transition and employees at the locations are being offered positions with Brookshire.

2ULaundry, a Charlotte-based laundry and dry cleaning pickup & delivery operator, has acquired Austin-based The Folde to expand its market presence and accelerate its drive to become a nationally recognized laundry brand. The deal follows a $20M Series B strategic investment from Level 5 Capital Partners and strengthens 2ULaundry's footprint across multiple states while adding The Folde's delivery-first operations and team.

Tempur Sealy International, Inc. signed a definitive agreement to acquire Mattress Firm, the U.S.'s largest mattress specialty retailer, in a transaction first announced at an approximate $4.0 billion enterprise value and completed in February 2025 with a reported total purchase price of roughly $5.0 billion. The deal was funded with approximately $2.7 billion of cash and the issuance of 34.2 million Tempur Sealy shares; following closing Tempur Sealy renamed itself Somnigroup International and will operate Mattress Firm as a decentralized business unit while divesting a portion of retail locations and the Sleep Outfitters business to MW SO Holdings (Mattress Warehouse).

Global Partners LP and ExxonMobil have signed an agreement to acquire 64 Houston-area convenience and fueling facilities from the Landmark Group. The assets will be purchased under the joint venture Spring Partners Retail LLC, with Global Partners acting as the management company/operator; the transaction is expected to close in Q2 2023, subject to regulatory clearance.

Majors Management, LLC acquired 10 Chevron-branded convenience stores, the dealer wholesale business, and the commercial fuels and lubricants business (including an associated bulk plant) from Morgan Oil Company, Inc. The transaction expands Majors' presence in East Texas and transitions Morgan Oil's operations and employees to Majors' platform.

Surge Private Equity has closed an investment in Amuze Products II, a Dallas-based operator of proprietary massage chairs and hurricane simulators that places equipment in trampoline parks, amusement parks and truck stops. Debt financing for the deal was provided by CrowdOut Capital; Amuze founder Phillip Brothers will retain equity and remain CEO while Surge provides growth capital and supports future add-on acquisitions and product line expansion.

NXTLVL Holdings, LLC (NXTLVL Marine) has acquired Austin Boats & Motors, a single-location, family-owned boat dealership near Austin, Texas. The acquisition expands NXTLVL's Texas footprint (its fifth location) and was completed with sell-side advisory support from Three Twenty-One Capital Partners; the family owners (led by Martin Boyer) will transition the business into NXTLVL's multi-location dealer platform.

RumbleOn, Inc. completed the acquisition of Freedom Powersports, adding 13 retail locations across Texas, Georgia and Alabama and expanding RumbleOn’s omnichannel powersports retail footprint. The transaction closed for aggregate consideration of approximately $130.0 million (≈ $83.4M for the business and ≈ $46.6M for real estate) and supports RumbleOn’s revenue and adjusted EBITDA outlook; Freedom reported over $220.0 million of revenue and over $25.0 million of adjusted EBITDA for 2021 (unaudited).

Truitt Enterprises, Inc. (dba Hootin Holler), a Gun Barrel City, Texas liquor, beer, wine and convenience store, was sold in a majority transaction to a private investor that closed on February 1, 2022. The deal, advised by Generational Equity, represents an ownership succession for the Truitt family and aims to continue the company’s legacy serving retail customers and wholesale accounts such as local bars and restaurants.

Wax Center Partners — a platform formed by MKH Capital Partners in partnership with the Stieber European Wax Center franchise — acquired six European Wax Center locations in the Dallas metro area (Allen, Arlington, Fort Worth, Frisco, Las Colinas, and Mansfield). The add-on expands Wax Center Partners' footprint to 18 centers and reflects the platform's strategy of growth through both new development and acquisitions.

MedX Holdings Inc. (MEDH) has acquired Dazed Inc., a Texas-based operator of the Lazydaze retail/coffee and cannabis concept, as a wholly owned subsidiary. MedX said the acquisition advances its strategy to build vertically integrated cannabis brands and expand into retail and public consumption lounges across U.S. markets.

Funds affiliated with Hellman & Friedman (H&F) have completed an all-cash acquisition of At Home Group Inc., valuing the home décor retailer at approximately $2.8 billion including assumed debt. H&F’s amended offer reached $37.00 per share (up from an initial $36.00), and the transaction takes At Home private to support continued store expansion and growth of its product offering.

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.

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.

Summit Sports has acquired Austin Canoe & Kayak, an omnichannel specialty retailer of kayaks, camping and outdoor adventure gear. Cascadia Capital served as exclusive financial advisor to Austin Canoe & Kayak; the deal expands Summit's portfolio and provides a counter-seasonal retail capability to balance its primarily winter-sports offering.