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11 megadeals that shocked the retail world this decade

Published by Business Insider on Fri, 13 Dec 2019

Mergers and acquisitions are the norm in the retail business, and the past decade was no exception, with a slew of significant purchases and partnerships that had widespread impact for the industry.Here are the 12 largest and most surprising retail acquisitions of the past 10 years.Sign up for Business Insider's retail newsletter, The Drive-Thru.Visit Business Insider's homepage for more stories.The past decade marked a significant period of shakeups among some of the world's biggest retail companies.While several companies went bankrupt and closed their doors for good during the course of the last 10 years, others consolidated to grow stronger by expanding into new sectors and widening consumer bases. Walmart and Amazon each made several acquisitions designed to maintain their status as global e-commerce juggernauts. Meanwhile, US fashion brands teamed up in an attempt to build an American luxury conglomerate that might someday rival the likes of LVMH or Kering.We took a look at 12 of the biggest and most surprising retail acquisitions of the past decade.SEE ALSO:These department stores once thrived a decade ago but no longer existLVMH acquires Tiffany & Co.LVMH made history last month when it purchased the iconic New York jeweler Tiffany & Co. for a staggering $16.2 billion, its most expensive acquisition ever. The deal will help the luxury conglomerate broaden its brand portfolio in the fine jewelry sector to compete with the likes of Kering and Richemont.Walmart acquires Jet.comAs Walmart began its quest to build out its e-commerce business, the retailer acquired then-two-year-old company Jet.com in 2016 for $3.3 billion. As part of the deal Jet cofounder and CEO Marc Lore was brought on to oversee both his company and all of Walmart e-commerce.However, the partnership hasn't been all smooth sailing. In the past year, at least eight vice presidents and five senior directors have left the company, turnover indicating internal strife for the company.Walmart acquires ModClothThough Walmart acquired the trendy e-commerce company ModCloth in March 2017prompting a slew of apparel-focused acquisitions that included Bonobos, Moosejaw, Hayneedle, and Bare Necessitiesthe company is reportedly planning to sell the brand.Le Tote acquires Lord & TaylorLord & Taylor shocked the retail industry earlier this year when the luxury department store was sold to the clothing subscription service Le Tote. As part of the $75 million deal, Le Tote now operates Lord & Taylor's 38 brick-and-mortar stores and all its online assets.Amazon acquires Whole FoodsIn a bid to expand its e-commerce empire with a strategic push into grocery, Amazon purchased Whole Foods for $13.7 billion in 2017. Amazon's influence was seen almost immediately, as the retailer began integrating Prime deals and other services within the beloved grocer.Coach acquires Stuart Weitzman and Kate SpadeAfter Coach acquired Stuart Weitzman in 2015, followed by Kate Spade in 2017, the company rebranded to Tapestry in an attempt to reestablish itself as a luxury conglomerate."We are now at a defining moment in our corporate reinvention," then-CEO Victor Luis said in a statement in 2017. "In Tapestry, we found a name that speaks to creativity, craftsmanship, authenticity and inclusivity on a shared platform."Michael Kors acquires Jimmy Choo and VersaceIn an attempt to create the first legacy US luxury conglomerate and compete with Tapestry, Michael Kors pursued acquisitions this decade that included Jimmy Choo in 2017 and Versace in 2018, for $1.2 billion and $2.12 billion, respectively.Gildan Activewear acquires American ApparelThe Canadian apparel manufacturer Gildan Activewear purchased American Apparel out of bankruptcy court and revitalized it as an online-only company, as all 110 stores remain permanently closed. Anheuser-Busch InBev acquires SABMiller As the saying goes, if you can't beat 'em, join 'em, as was the case for Anheuser-Busch InBev when it acquired rival SABMiller for more than $100 billion in 2015. The acquisition brought popular brands like Redd's and Foster's to the AB InBev portfolio.Heinz acquires Kraft Foods GroupHeinz and Kraft joined forces in 2015 to create the fifth-largest food-and-beverage conglomerate in the world. Berkshire Hathaway CEO Warren Buffett contributed $10 billion to the new company, which was renamed The Kraft Heinz Company."I am delighted to play a part in bringing these two winning companies and their iconic brands together," Buffett said in a statement at the time.Dollar Tree acquires Family DollarIt was a banner decade for dollar stores, which grew at rapid rates and expanded their physical retail footprints across the country. In 2015, Dollar Tree amplified its value store power and reach by acquiring Family Dollar.PetSmart acquires Chewy.comIn 2017, PetSmart acquired the popular pet product site Chewy for $3.35 billion in the largest e-commerce acquisition to-date. Chewy, founded in Fort Lauderdale, Florida in 2011, had a quiet yet meteoric rise to prominence as pet owners sought the convenience of buying food and products online for their furry friends.
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