India-based online community classifieds business Quikr India has acquired on-demand home beauty services provider, Glow Prime Technology, in order to strengthen its AtHomeDiva beauty service brand.
Operating as Stayglad, Glow Prime Technology was founded by Prateek Jain, Shashank Gupta and Kavish Desai. It is planning to raise funding from Accel Partners and Matrix Partners, as well as acquire Urbanclap, which provides online home services.
Pacific Sunwear of California and its subsidiaries (collectively, PacSun), which had filed for Chapter 11 bankruptcy earlier this year, has been acquired by Golden Gate Capital following the conclusion of planned debt restructuring after meeting all closing conditions by the former.
PacSun sells branded and proprietary casual apparel, accessories and footwear in its 583 stores in the US and Puerto Rico.
More than 65% of the bankrupt company’s term loan debt has been restructured by the acquirer into equity of the reorganised company and annual occupancy costs too have been cut down to improve the target company’s capital structure.
The acquirer company has also additionally infused $20m in capital to the reorganised retailer in order to help meet its long-term business goals.
The transaction was partially funded by Wells Fargo through a five-year $100m revolving line of credit.
Multinational tyre manufacturer Bridgestone France has announced the acquisition of a minority stake in Pneu a bas Prix, a tyre retailer. The acquisition will expand Bridgestone’s presence in the US and complement its retail operations.
Both companies involved in the acquisition are based in France.