October Openings, Closings, Mergers and Acquisitions
Weyerhaeuser Company, one of the world¹s largest private owners of timberlands, has sold its liquid packaging board business to Nippon Paper Industries Co. Ltd. Liquid packaging board is a multi-ply paperboard with high stiffness that must hold liquid and prevent migration of air and flavors through the paperboard. Common applications include milk and juicebox packaging.
84.51°, a powerhouse in pioneering customer engagement has merged with Market6, a predictive analytics company. Market6 is focused on product movement data solutions and extensive capabilities in data, insights and customer experience for over 1,000 consumer packaged goods (CPG) and retail clients. 84.51°¹s objective is to leverage Market6¹s technology, IP and people to expand its work with The Kroger Co., as well as Kroger¹s regional grocery retailers and the CPG business.
Abercrombie & Fitch Co. is planning to close up shop at 60 of its US locations by early next year. The upscale casual retailer has been losing millions of dollars recently, and reported a second-straight quarter of declining sales Tuesday. The soon-to-be-closed stores will represent about 8 % of the stores in the U.S.
Rethinking its earlier turnaround plans, a century-old Canadian jewelry chain has announced it will shutter all stores. Ben Moss Jewelers is closing all locations across Canada.
In a sign of how dramatically the retail shopping landscape is changing, Macy’s is closing 100 of its stores nationwide. Most will be shut down by early 2017.