Anchorage and Wasilla, Alaska — The Joint Corp. has signed a franchise agreement for three The Joint Chiropractic clinics in Alaska. The first location recently opened in Wasilla, Alaska. The second clinic is scheduled to open in the first quarter of 2023 in Anchorage. The third clinic is set to open next fall in an undisclosed location. Ron and Julie Kluff, James Peterson, Toni Peterson and Jerusha Overton are together the owners, and Overton will operate the businesses. With the expansion into Alaska, The Joint now has a presence in …
Memphis, Tenn. — Poag Shopping Centers, as part of its recently announced partnership with JLL, has rebranded to Poag Development Group. “At a time when retail is all too often an afterthought in a mixed-use project, Poag Development Group’s unmatched expertise in creating and optimizing memorable and profitable retail environments is more critical than ever,” says Josh Poag, chief executive officer of Poag. “I couldn’t be more excited for this next chapter in the Poag legacy.” The company’s current projects include the redevelopment of Somerset Square in Glastonbury, Connecticut; the …
Columbus, Ohio — Bath & Body Works Inc. has appointed Gina Boswell, an industry veteran with more than 30 years of experience, to the role of chief executive officer and member of the Board. Boswell previously served in leadership positions with companies including Unilever, Alberto Culver Co. and The Estee Lauder Cos. and as a board member of the Retail Industry Leaders Association (RILA). Bath & Body’s board of directors voted unanimously in favor of appointing Boswell.
Cincinnati and Boise, Idaho — Kroger Co. (NYSE: KR) and Albertsons Cos. Inc. (NYSE: ACI) have agreed to a merger in which Kroger will acquire all outstanding shares of Albertsons’ common and preferred stock for an estimated total consideration of $34.10 per share, or a total enterprise value of approximately $24.6 billion. The deal includes the assumption of $4.7 billion of Albertsons’ net debt. Both company’s boards of directors unanimously approved the agreement. The purchase price represents an approximately 32.8 percent premium to the closing price of ACI stock on …
ArizonaColoradoCompany newsFloridaGeorgiaIllinoisMassachusettsMissouriNewsPennsylvaniaTennesseeTexas
Puttshack Raises $150 Million in Growth Capital, Unveils Expansion Plans
Chicago — Chicago-based Puttshack, an indoor mini golf venue, has completed a growth capital round of $150 million from funds managed by BlackRock and continued support from Promethean Investments. The new funding will support Puttshack’s rapid growth strategy across the United States. New venues in Boston and Miami are scheduled to open this fall, followed by one in St. Louis this winter. Additional locations in Dallas, Denver, Houston, Nashville, Philadelphia, Pittsburgh and Scottsdale, plus a second location in Atlanta, are all slated to open in 2023. Additional U.S. locations will …
Indianapolis and Atlanta — Simon has entered into an agreement whereby the REIT will purchase a 50 percent interest in Atlanta-based Jamestown, an owner of some of the most successful mixed-use developments in the country, such as Ponce City Market in Atlanta and Ghirardelli Square in San Francisco. Jamestown had $13 billion in assets under management as of June 30, 2022, with properties spanning the United States, Latin America and Europe. Terms of the purchase agreement were not disclosed. With this partnership, Jamestown will gain a partner with a broad …
Cleveland, Ohio — Real estate software solutions provider MRI Software has acquired Springboard. Springboard provides retail activity and shopper insights through the use of plug-and-play software, existing camera networks and proprietary AI-powered algorithms. MRI plans to expand its @Work retail solutions suite, which currently serves 500 retailers and property owners internationally.
New York City — Ralph Lauren has announced plans to open 250 new stores over the next three years. These new stores comprise one aspect of the company’s plan for expansion, which also involves an omnichannel approach. “Our clear and choiceful strategies are expected to deliver sustainable long-term growth and value creation — fueled by our strong balance sheet and operating discipline — as we reinforce our position as a leading luxury lifestyle company,” says Patrice Louvet, CEO of the New York City-based company. Ralph Lauren’s new stores will be …
Forks Township, Pa. — Crayola has entered into an agreement with BrightColors LLC to open at least five new Crayola Experience venues, doubling Crayola’s presence in the U.S. The company’s portfolio currently includes five locations in Easton, Pennsylvania; Orlando, Florida; Bloomington, Minnesota; Plano, Texas; and Chandler, Arizona. Last November, Crayola began actively seeking partners to extend its footprint domestically and internationally. The Forks Township, Pennsylvania-based company’s first multi-venue licensing agreement will be with BrightColors, which is working with partner Kingsmen Xperience Inc. to open the new locations over the next …
Seattle — Starbucks Coffee (NASDAQ: SBUX) has announced plans to open 2,000 stores by 2025 and invest $450 million in its North American real estate, which will include the modernization of existing locations across the U.S. The announcement took place during the company’s 2022 Investor Day conference in Starbucks’ home town of Seattle. The company’s reinvention plan includes the implementation of a store design that streamlines work behind the counter, enabling better connection with the customer. Starbucks also plans to reorganize its real estate portfolio to include a greater number of pick-up …