A&P to Sell Metro Stock to Help Finance Pathmark Deal
Montvale, N.J., The Great Atlantic & Pacific Tea Co. Inc. (A&P) said on Monday it intends to sell all its 11.7 million shares of Canada’s Metro Inc. to minimize its indebtedness in A&P’s planned $690 million acquisition of Pathmark Stores Inc.
A&P expects to use the proceeds, together with borrowing under a reduced bridge facility and a portion of its increased $675 million funding from a group of lenders, to finance the Pathmark deal.
A&P said if it cannot sell the Metro shares, it intends to finance the merger with committed financing, including borrowing under the bridge facility or an offering of senior secured notes.
A&P currently expects the Pathmark acquisition to close by the end of December.
Meijer selects Oneupweb for online marketing
TRAVERSE CITY, Mich. Meijer has chosen Oneupweb, a provider of inegrated marketing solutions, to develop a pay per click campaign focused on strengthening Meijer’s national brand value, sales and brand loyalty online.
According to the companies, Oneupweb was hired by Meijer to help increase traffic and conversion rates on Meijer.com, Meijer’s recently launched e-commerce site. In addition, Oneupweb was chosen to help Meijer build its reputation as an online retailer.
“We researched several companies, but what drew us to Oneupweb was the breadth of services offered, particularly in SEO [Search Engine Optimization] and SEM [Search Engine Marketing],” says Elizabeth Truman of Meijer’s e-commerce marketing and promotions department. “Oneupweb is upfront, easy to work with and provides us with a wealth of great information.”
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PacSun debuts social network for athletes
SAN DIEGO Pacific Sunwear Stores has launched a new online social community on Loop’d Network, a social media platform exclusively for online sports communities. According to Loop’d Network, The PacSun community (www.pacsunteam.com) will offer sponsorship opportunities to amateur surfers, skaters and snowboarders and provides a forum for them to interact with other athletes, fans and enthusiasts.
“We’ve always respected PacSun’s commitment to the action sports community, and are again witnessing this dedication as PacSun actively seeks to sponsor up-and-coming surf, skate and snowboard athletes,” said Scott Tilton, ceo of Loop’d Network. “We are thrilled to provide a sponsorship and community solution to PacSun, the country’s largest action sports retailer, so the company can connect with its customers in new and exciting ways.”
The PacSun community will enable Pacific Sunwear to find and engage with various member of the action sports world. According to Loop’d Network, its business marketing tools, which include sophisticated Web analytics, will be used to enhance the PacSun Team community experience and measure online campaign results.
“ We’ve grown our online business by focusing on the needs of our customers and adapting our business to the latest social and technological developments,” said Stacy Clark, senior director of e-commerce at Pacific Sunwear Stores. “Our partnership with Loop’d Network is a great compliment to this approach. It provides both a platform to build a broad-reaching sponsorship program and a set of tools and services that drive community growth.”
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