AC Moore considering potential sale
Berlin, N.J. — A.C. Moore Arts & Crafts said Tuesday it is considering a potential sale of the company.
The arts-and-crafts retailer revealed that its board is looking at strategic options to boost shareholder value, which may also include corporate financing or raising capital. It said there has been third-party "expressions of interest," but that it won’t discuss any developments unless its board approves a specific transaction.
The company has hired Janney Montgomery Scott LLC as its financial adviser to assist with the process.
Casey’s signs deal to buy Minnesota c-store locations
Ankeny, Iowa — Casey’s General Stores said Tuesday it has signed a definitive purchase agreement to acquire 11 convenience stores from NuWay Cooperative of Trimont, Minn.
All of the stores are located in Minnesota operating under the NuMart banner and will be immediately rebranded to Casey’s, according to the company. Terms of the acquisition were not disclosed.
"These are well-maintained locations that fit perfectly with the [company’s] business model of operating in smaller rural communities and further strengthens our existing marketing presence in southern Minnesota," CEO Robert J. Myers said in a statement.
The deal will be funded by existing cash and operating cash flow, Casey’s said.
Bailey Banks & Biddle teams with TD Retail Card Services for credit-card program
Mahwah, N.J. — Jeweler Bailey Banks & Biddle said Tuesday it has joined TD Retail Card Services’ L.J.C. private-label credit-card program.
Under the agreement, TD Bank, N.A. will direct the L.J.C. program, which features a revolving private-label credit card created specifically for independent and small-chain retailers of jewelry and other luxury items. Cardholders can avail themselves of a number of special financing options, including multiple deferred interest and equal payment promotions.