IndustryEye: People on the Move, Financial Briefs, Acquisitions
Neiman Marcus: Revenue at Neiman Marcus Direct in the four-week May period increased 0.2 percent. The top-selling merchandise categories in the direct marketing segment included women’s contemporary sportswear and designer apparel, designer shoes, handbags and jewelry. The direct marketing segment conducts both online and print catalog operations under the Neiman Marcus, Horchow and Bergdorf Goodman brand names.
Performance Bicycle: The largest independent bicycle dealer and direct marketer of bicycles and cycling accessories in the United States, Performance has sold a controlling interest to North Castle Partners, a private equity firm. Performance operates 74 retail stores, two catalogs and two e-commerce sites. The terms of the investment were not disclosed.
Guitar Center: Guitar Center, the largest direct response retailer of musical instruments in the United States through its wholly owned subsidiary, Musician’s Friend, and its catalogs and Web sites, agreed to be acquired by affiliates of Bain Capital Partners LLC, a global private investment firm. The total transaction value, including assumed debt, is approximately $2.1 billion.
Ingram Micro: Technology distributor Ingram Micro has agreed to acquire DBL Distributing, a distributor of consumer electronics accessories and related products for $96 million. DBL Distributing will operate as a wholly owned subsidiary of Ingram Micro, keeping the same brand name, business model and management structure.