Family Dollar Rejects Dollar General Bid; Previous Merger With Dollar Tree To Continue
Family Dollar Stores rejected on Aug. 21 an $8.8 billion takeover from Dollar General, citing “significant antitrust issues” related to the offer.
Family Dollar CEO Howard Levine said Dollar General’s offer created unacceptable antitrust risk. “Our board reviewed, with our advisers, all aspects of Dollar General’s proposal and unanimously concluded that it is not reasonably likely to be completed on the terms proposed,” Levine said.
“Accordingly, our board rejects Dollar General’s proposal and reaffirms its support for the pending merger with Dollar Tree.” Dollar Tree Inc. a major national discount retailer offering name brands and private brand merchandise, announced a major merger agreement on July 28. Dollar Tree will acquire Family Dollar in a cash and stock transaction. The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close by early 2015.
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In-Store Pub-Style Restaurant Highlights First N.H. Whole Foods Store
Whole Foods opened its first New Hampshire store last week in Nashua, N.H. St. in Nashua. The 20,000 square foot store has about 150 full- and part-time employees.
Philip Devito, store team leader, said, “We’ve designed a store unlike any other in our region, and we are so excited to begin serving this community. We’ve created a store that is really unique,” said Mr. Devito. “It is so much more than just a grocery store. It really is a food destination.”
In addition to produce, meat, seafood, grocery, specialty and Whole Body departments, Whole Foods Market Nashua features a chef-run prepared foods department with hot and cold bars serving breakfast, lunch and dinner options. The prepared foods department also features an Ole Hickory smoker, serving up dishes like brisket and Southern smoked favorites and fresh sushi throughout the day.
Whole Foods Market Nashua features a 50-seat, in-store, pub-style restaurant called J.Bartlett’s Public House. The pub offers 32 craft beers on tap, wine by the glass and a full menu, offering selections that range from pizza and salads to sushi and daily specials. J. Bartlett’s is the first in-store restaurant in a Whole Foods Market store in the North Atlantic region. Customers looking for a place to unwind can use complimentary Wi-Fi in the café seating area, which features reclaimed church pews. A nearby Kids Corner offers a spot for kid-friendly classes and entertainment. The store sells a variety of beer with a strong emphasis on New Hampshire-made and craft brews, which can be paired with one of 50 specialty cheeses and cured meats sourced from within 100 miles of the store.
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River Hollow Partners Invests In Dancing Deer Baking Co.
Private equity firm River Hollow Partners of New York City t has made an investment in Dancing Deer Baking Co., a nationally-branded manufacturer of gourmet, baked goods sold across multiple distribution channels. Established in 1994, Dancing Deer Baking Co sells kosher-certified cookies, brownies, cakes and baking mixes in the specialty/natural products, foodservice/travel/hospitality, business gifts and direct-to-consumer marketplaces.
Headquartered in Boston, Massachusetts, Dancing Deer sells its products in over 4,600 retail stores spanning all 50 states, in addition to its direct-to-consumer, reseller and corporate gift channels. Kevin Charlton, managing partner at River Hollow Partners said: "We are enthusiastic to partner with current shareholders and Dancing Deer’s management team, led by Frank Carpenito, to provide the capital needed to continue the Company’s impressive growth.” Mr. Carpenito, president and chief executive officer of Dancing Deer, added "We are very excited about the potential impact River Hollow’s new growth capital investment will have on our Company as we look to accelerate growth and broaden our product offering in the coming years.
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Latest Word in New Channels...
• KeHE Distributors has completed its acquisition of Nature's Best, a California-based distributor of health and natural food products. KeHE will now employ over 4000 employees, operate 14 warehouses, distribute to over 35,000 store doors weekly and export to 32 countries
• Following a recall by nSpired Natural Foods, Inc., Stop & Shop & Giant Foods removed from sale MaraNatha Almond Butters and Peanut Butters due to potential Salmonella contamination
• Target is considering extending shopping hours at more than half of its 1,800 stores. Select stores will stay open up to one or two hours later until midnight in some cases and only on weekends at least through the end of the year. Before the change, the chain’s stores had typically closed at 10 p.m., Monday through Saturday and 9 p.m., on Sundays.
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