Charlotte Russe acquisition completed
Boston Global buyout firm Advent International Corp. said Wednesday it has officially completed its acquisition of Charlotte Russe Holding.
Advent’s acquisition vehicle, Advent CR Holdings, and its subsidiary Advent CR officially closed the tender offer Wednesday for all of the outstanding shares of common stock of Charlotte Russe.
The completion of the acquisition also marks the privatization of Charlotte Russe as the shares of common stock will cease to be traded on the NASDAQ Global Select Market.
David Mussafer, a managing partner at Advent, said, “…We are excited to begin working to help Charlotte Russe achieve the numerous growth opportunities before it. The company has initiated a number of important steps recently that will improve its operations, financial position and strategic direction.”
Charlotte Russe operates 504 stores in 45 states and Puerto Rico.
Target and Zinio team up for digital newsstand
MINNEAPOLIS and SAN FRANCISCO, Calif. Target and Zinio announced a partnership to extend access of their global portfolio of publications, including the most popular consumer titles, to Target guests worldwide.
Complementing the e-reading devices available for purchase on Target.com, the private-label newsstand site, target.zinio.com, features a vast selection of digital versions of the most popular U.S. and international single-issue, subscription and archived issues at discounted prices.
Target.com guests will be directed to a co-branded digital newsstand that showcases various publications. Target will market and promote its digital newsstand online and in stores nationwide. Popular titles include Elle, Parenting Early Years, Parenting School Years, Popular Science and Woman’s Day.
Shop at Macy’s for a cause
NEW YORK, N.Y. Macy’s announced its fourth Annual “Shop For a Cause” charity shopping event. This year’s Shop For A Cause event will take place at all Macy’s stores and on macys.com on Saturday, Oct, 17.
For “Shop for A Cause,” Macy’s donates shopping passes to participating charities in all of its markets across the country. The shopping passes are then sold by the charitable organizations for $5 each in the weeks leading up to the event. The organizations keep 100% of the proceeds from the sale of the shopping pass. Pass holders can redeem their passes at any Macy’s store or online at macys.com on Oct. 17 to receive 20% off most men’s, women’s, kids and accessories merchandise, 10% off most home items and 25% off a single item. Shopping passes are also sold at Macy’s stores from Sept. 1 through Oct. 17 and at macys.com on Oct. 17, with 100% of the proceeds from the sale of the pass to benefit designated charitable organizations including Feeding America and local food banks as part of Macy’s national “Come Together” campaign that aims to provide 10 million meals for the hungry and to other designated charities.
Local charities can register to participate in Macy’s Shop For A Cause by logging onto www.macys.com/shopforacause. Customers wanting to purchase a ticket to benefit a specific non-profit organization can look up participating charities on www.macys.com/shopforacause.