Jones Lang LaSalle and The Staubach Co. Reach Merger Agreement
Chicago Jones Lang LaSalle said Monday that it has agreed to pay $613 million to acquire closely held Staubach Co., the Texas-based real estate services firm founded by former Dallas Cowboys quarterback Roger Staubach.
“The Staubach Co. is recognized for exceptional tenant representation expertise and is a leading presence in markets throughout the United States. We are delighted that they have decided to join our company. Merging our businesses reinforces two of our global-growth priorities, building our position in key U.S. local markets and strengthening our corporate-services business by introducing Staubach clients to our global Corporate Solutions capabilities,” said Colin Dyer, CEO, Jones Lang LaSalle.
The combined firm will operate under the Jones Lang LaSalle brand. The transaction does not include Staubach Retail Services or Cypress, Staubach’s investment-development business, both of which will continue to operate under license agreements.
“Staubach Retail and Cypress Equities have always been independently owned and will continue to operate as independent, stand-alone companies with aligned management. Our goal is to double our size and revenue within 3 years,” said Chris Maguire, CEO of Staubach Retail and Cypress Equities.
The ownership and leadership of Staubach Retail and Cypress Equities has a long-term licensing and consulting agreement with Staubach Co. founder Roger Staubach in place through 2019. That agreement will not change.
“Roger will continue to serve on our board and will be an active contributor to our business, including client relations,” Maguire said. “We look forward to his ongoing involvement.”
Maguire said the staff at Staubach Retail and Cypress Equities will remain in place, and leadership is working on an equity/stock ownership plan for employees.
Stop & Shop joins MyPyramid to promote healthy eating
QUINCY, Mass. Stop & Shop said it has joined the U.S. Department of Agriculture as part of “Partnering with MyPyramid: Corporate Challenge,” to encourage consumers to shop for healthy foods and live a healthy lifestyle.
“At Stop & Shop, we readily accept the challenge to help our customers live a healthy lifestyle because the supermarket plays an important role in providing healthful food choices, said consumer advisor, Andrea Astrachan. “Because millions of customers shop our stores weekly, we have a unique opportunity to share the core messages of MyPyramid right where purchasing decisions are made.”
The company will provide key messages to customers such as “Vary Your Veggies” and “Make Half Your Grains Whole, as well as encourage customers to use the new interactive tools on MyPyramid.gov such as the MyPyramid Menu Planner and MyPyramid to plan menus and track their daily intake.
Supervalu to eliminate some corporate jobs
MINNEAPOLIS Supervalu said it will eliminate more than 100 jobs at its corporate offices in Minneapolis and Boise over the next 12-18 months as it switches to a third-party provider for some of its financial services.
In a statement, Supervalu said the decision was made “after months of careful analysis as part of our ongoing efforts to improve operational efficiencies and enhance our competitiveness.” Supervalu did not identify the third party provider in its statement.