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Trader Joe’s Eyes Manhattan Store

BY CSA STAFF

New York City, Specialty grocer Trader Joe’s will open in New York City’s Union Square in the spring, according to the company. The Monrovia, Calif.-based, 250-store chain focuses heavily on private-label brands and low prices. The company has 19 stores in the New York area, but none in New York City, and has no plans to expand in Manhattan beyond Union Square.

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Bain Capital to Acquire Burlington Coat Factory

BY CSA STAFF

Burlington, N.J., Burlington Coat Factory Warehouse Corp. agreed to be acquired by a private investment firm. The 367-store chain said it signed a definitive merger agreement to be acquired by affiliates of Bain Capital Partners, LLC in a $2.06 billion deal.

Under terms of the agreement, Bain Capital will acquire all of the outstanding shares of Burlington Coat Factory Warehouse Corporation for $45.50 per share in cash, for a total consideration of approximately $2.06 billion. “We are thrilled that a transaction with Bain Capital delivers significant value to our stockholders,” said Monroe Milstein, Burlington Coat Factory’s Chairman, President and CEO. “We are very proud of what the Company has accomplished over the past 30 years.”

“Burlington Coat Factory is a well-managed retail business with a strong consumer following, high-quality product offerings, and good growth prospects,” said Jordan Hitch, a managing cirector at Bain Capital. “We are delighted to have the opportunity to partner with the experienced management team to build on the company’s track record of success in merchandising and store operations and to continue to grow the store portfolio.”

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Gap Introduces Petite and Tall Women’s Wear On Line

BY CSA STAFF

San Francisco, Gap Inc. has begun selling women’s wear in petite and tall sizes on its Web site. The apparel is designed for women under 5’4” or over 5’11”.

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