REAL ESTATE

Dick’s opens stores in South Carolina, New Jersey

BY Dan Berthiaume

Pittsburgh – Dick’s Sporting Goods reopened a newly renovated store in Columbia, S.C., on Sept. 8 and is opening a brand new store in South Plainfield, N.J., on Sept. 13.

The remodeled 59,000-sq.-ft. store in Columbia includes additional specialized services and hands-on customer experiences, including a golf simulator, a club fitting center, putting green, an archery lane with an on-site bow technician, and bike safety inspections, custom fittings, tune-ups and assembly.

The South Plainfield location will be the retailer’s 17th store in the state of New Jersey and its 531st nationwide.

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REAL ESTATE

Dover Saddlery plans first Florida store

BY Dan Berthiaume

Littleton, Mass. – Dover Saddlery Retail plans to open its first store in Florida next month. Located in Winter Park, just north of Orlando, the new Dover Saddlery store will offer the retailer’s full line of equestrian products as well as in-store services such as a saddle demo program and custom boot and coat fittings.

"We are excited to open our first store in Florida and join the equestrian community of Winter Park and the surrounding areas," said Ken Cavanaugh, director of retail at Dover Saddlery.

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FINANCE

Independent firms favor Apax-rue 21 deal

BY Dan Berthiaume

Warrendale, Pa. – Two independent proxy voting advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have both recommended that rue21 shareholders vote for a proposed acquisition by Apax Partners. As previously announced on May 23, 2013, rue21 entered into a definitive agreement under which funds advised by Apax Partners will acquire all outstanding shares of rue21 for $42 per share in cash.

The SKM II funds, which collectively own approximately 30% of the outstanding shares of rue21, have entered into a support agreement to vote their shares in favor of the transaction with Apax Partners. The transaction with Apax Partners is subject to approval of stockholders, including a majority of the rue21 stockholders unaffiliated with the SKM II funds and certain other specified stockholders, as well as other customary closing conditions.

A special meeting of rue21’s stockholders to consider and vote on the acquisition is scheduled to be held on Sept. 19 at the company’s headquarters in Warrendale. rue21 stockholders of record as of the close of business on Aug. 5, 2013 will be entitled to vote.

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