Exec Promotion at The Container Store
Dallas, The Container Store promoted Melissa Reiff to president. Reiff, who previously served as executive VP of stores and marketing, will drive the day-to-day operations and the sales performance of the company.
MarineMax Buys Midwest Boat Dealership
Clearwater, Fla., Boat retailer MarineMax Inc. has agreed to purchase Port Arrowhead Group, a $70 million boat dealership primarily serving Missouri and Oklahoma and neighboring states. MarineMax will pay $27.5 million in cash, plus working capital adjustments and the assumption of liabilities. The transaction is expected to close in the first quarter.
Linens ’N Things Deal Gets U.S. Antitrust
Washington, U.S. antitrust authorities on Tuesday said that they approved plans by private equity firm Apollo Management L.P. and its affiliates to buy Linens ‘N Things.
Under the terms of the Apollo deal, financing is contingent upon Linens ‘N Things reporting a fourth-quarter same-store sales decline of no more than 6% and earnings before interest, taxes, depreciation and amortization of not less than $140 million.