M&A Deal Summary

TJX Acquires Marshalls

On October 17, 1995, TJX acquired retailer Marshalls from CVS Health for 550M USD

Acquisition Highlights
  • This is TJX’s 1st transaction in the Retail sector.
  • This is TJX’s largest (disclosed) transaction.
  • This is TJX’s 1st transaction in the United States.
  • This is TJX’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 1995-10-17
Target Marshalls
Sector Retail
Buyer(s) TJX
Sellers(s) CVS Health
Deal Type Divestiture
Deal Value 550M USD

Target

Marshalls

Boston, Massachusetts, United States
website
Marshalls is a discount clothing and home goods retailer with more than 750 stores.

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Buyer(S) 1

Buyer

TJX

Framingham, Massachusetts, United States

website

Category Company
Founded 1956
Sector Retail
Employees320,000
Revenue 41.7B USD (2020)
DESCRIPTION
Entrance to TJX's corporate headquarters in Framingham, Massachusetts.
Entrance to TJX's corporate headquarters in Framingham, Massachusetts.

TJX are a collection of discount retail stores focused on apparel and home furnishings. Its brands include T.J. Maxx, Marshalls, HomeGoods, Winners, HomeSense, T.K. Maxx, and Sierra Trading Post. TJX was formed in 1956 and is based in Framingham, Massachusetts.

DEAL STATS #
Overall 1 of 5
Sector (Retail) 1 of 5
Type (Divestiture) 1 of 2
State (Massachusetts) 1 of 1
Country (United States) 1 of 3
Year (1995) 1 of 1
Size (of disclosed) 1 of 4
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-24 Bob s Stores

Meriden, Connecticut, United States

Bob's Stores LLC is an apparel and footwear retailer that offers the entire family a wide range of brands at affordable prices in casual fashion, denim, activewear, team wear, and footwear. It provides families in the Northeastern U.S. with a broad selection of such leading national brands as Timberland, Carhartt, Champion, Under Armour, adidas, Skechers, Levi’s, and others. Bob's Stores was formed in 1954 and is based in Meriden, Connecticut.

Buy $59M

Seller(S) 1

SELLER

CVS Health

Woonsocket, Rhode Island, United States

website

Category Company
Founded 1996
Sector Healthcare Services
Employees219,000
Revenue 322.5B USD (2022)
DESCRIPTION
CVS Health office in Buffalo Grove, Illinois.
CVS Health office in Buffalo Grove, Illinois.

CVS Health operates retail pharmacies, walk-in medical clinics, and is a pharmacy benefits manager. The Company enables people, businesses, and communities to manage health in a variety of ways. CVS Health advises patients on medications at CVS/pharmacy locations, helps clients control costs at CVS/caremark, and delivers care through CVS/specialty and CVS/minuteclinic. CVS Health was founded in 1996 and is based in Woonsocket, Rhode Island.

DEAL STATS #
Overall 1 of 5
Sector (Retail) 1 of 1
Type (Divestiture) 1 of 5
State (Massachusetts) 1 of 1
Country (United States) 1 of 5
Year (1995) 1 of 1
Size (of disclosed) 2 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-02-09 Arbor Drugs

Troy, Michigan, United States

Arbor Drugs, Inc. a drug store chain, operates 207 locations, predominantly in southeastern Michigan.

Buy $1.5B
Mergr

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