TikTok creator ByteDance has received tentative approval for an agreement with the U.S. government to resolve the outstanding issues about the involvement of China’s government in the original organization, which will allow Oracle and Walmart in partnership to acquire 20% of the newly formed TikTok Global business.
EcoVessel, a Boulder, CO-based manufacturer of reusable hydration products, has acquired U-Konserve, a food storage and reusable container company based in Sausalito, CA.
Bed Bath & Beyond has completed the sale of PersonalizationMall.com (PMall) to 1-800-Flowers.com, Inc. for $245 million, subject to certain customary post-closing adjustments. PMall will continue to provide product and personalization services to the company’s Bed Bath & Beyond and buybuy Baby retail concepts.
Sycamore Partners is reportedly the leader in an auction for J.C. Penney— and if the bid is successful, the private equity firm will merge the department store retailer with Belk, according to published reports.
Groupe SEB has invested in StoreBound, which owns the Dash brand of kitchen electrics. The transaction is expected to be completed on July 31, 2020 and Groupe SEB will become the majority stakeholder in the company. StoreBound develops housewares focused on better living under brands including Dash, Sobro, Chef Geoffrey Zakarian and others. It was founded in 2010.
Bed Bath & Beyond and 1-800-Flowers.com have entered into a settlement agreement with respect to the litigation relating to the previously announced sale of PersonalizationMall.com.
The Joyce Chen, Origins and Keilen brands of cookware have been acquired by Honey-Can-Do from Columbian Home Products. The lines complement the Honey-Can-Do brand portfolio, which includes those under the Kitchen Supply Company, Zevro, Old Stone Oven and Honey-Can-Do brands.
Twin Star Home has acquired TK Classics, a designer and manufacturer of outdoor furniture including upholstered seating, dining tables, bars and accessories.
Bush Industries has new ownership, as Novacap, a Canadian private equity firm, has acquired the ready-to-assemble furniture maker through its portfolio company Bestar, a ready-to-assemble furniture manufacturer with plants in Lac-Mégantic and Sherbrooke, Quebec.
R2 Venture Solutions Inc. and Townecraft Homewares have acquired the Kitchen Fair brand from Regal Ware. The brand has been in the company’s portfolio since 1984.
Advance Auto Parts has acquired the DieHard brand from Transform Holdco LLC, the company that now operates Sears and Kmart, for $200 million in cash.