Deals this week: Standard Textile, Sears Holdings Corporation, Co-operative Group

9 November 2018 (Last Updated November 13th, 2018 10:59)

Standard Textile Co Inc has agreed to acquire Italian global hospitality business Mascioni SPA.

Standard Textile Co Inc has agreed to buy Italian global hospitality business Mascioni SPA.

The deal includes the acquisition of Mascioni’s Hotel Collection brand.

Standard Textile is an American conglomerate involved in consumer goods and services business, while Mascioni SPA is a global leader in the textile, printing, finishing and ennobling business.

Sears Holdings Corporation is seeking court approval for a stalking horse asset purchase agreement to sell its Sears Home Improvement (SHIP) business to Service.com.

The sale would be conducted under Section 363 of the US Bankruptcy Code.

A cash transaction worth $60m was authorised by the company’s restructuring committee consisting of independent directors.

The final agreement will be based on the court’s approval, with the divestiture expected to be completed by January 2019 subject to regulatory approvals and closing conditions.

Based in the US, Sears Holdings Corporation is a retailer focussed on connecting physical and digital shopping experiences, while Service.com is an American housing and furnishing company.

Yamamay has selected Oracle Retail’s suite of solutions to complement its growth strategy worldwide.

Solutions including Retail Merchandising Financial Planning and Retail Assortment Planning have been deployed to expand the presence of Yamamay across 39 countries in Europe and the Middle East.

Oracle Retail Merchandise Financial Planning will be used to control the financial plan and accelerate the Open to Buy (OTB) systems and processes, while Oracle Retail Assortment Planning will help Yamamay to lower the number of SKUs per collection and launch new product streams.

“Ally Financial has committed to provide $2.3bn to Carvana for supporting its inventory requirements and retail contracts.”

Yamamay is a fashion retailer based in Italy, while Oracle is a global provider of cloud applications and platforms.

The Co-operative Group will deploy JDA Software’s Category Management Solutions across its 2,500 grocery stores under an agreement between the companies.

The Co-operative Group will use the solution to transform the category management processes and manage a range of products sold in its stores.

A new version of JDA Space Planning, Floor Planning, and Category Knowledge Base will be used to manage the stores from floor to shelf.

The collaboration will also help downstream teams and suppliers deliver accurately and offer early stocking information.

British company The Co-operative Group is engaged in food, retail, electrical services, insurance, and legal services.

JDA Software is an American consultancy and software company that provides supply, manufacturing, and retail planning solutions.

Ally Financial has committed to provide $2.3bn to Carvana for supporting its inventory requirements and retail contracts.

The funding includes approximately $1.25bn for bulk purchase, a warehouse credit of $350m, and a floorplan credit line of $650m.

The new deal involves an extended floorplan credit line along with continued sourcing of vehicles through the SmartAuction platform of Ally.

Based in the US, Ally Financial is a bank holding company that provides financial services and insurance, while Carvana is a start-up engaged in online trading of used cars.