M&A Deal Summary

Shoppers World Acquires Forman Mills

On June 22, 2023, Shoppers World acquired retailer Forman Mills from Goode Partners and Cohesive Capital Partners

Acquisition Highlights
  • This is Shoppers World’s 1st transaction in the Retail sector.
  • This is Shoppers World’s 1st transaction in the United States.
  • This is Shoppers World’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2023-06-22
Target Forman Mills
Sector Retail
Buyer(s) Shoppers World
Sellers(s) Goode Partners
Cohesive Capital Partners
Deal Type Add-on Acquisition

Target

Forman Mills

Pennsauken, New Jersey, United States
Forman Mills is a provider of apparel and footwear for men, women, and children as well as home goods. Forman Mills owns and operates 36 stores in nine states. Forman Mills was founded in 1985 and is based in Pennsauken, New Jersey.

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Buyer(S) 1

Buyer

Shoppers World

New York, New York, United States

Category Company
Founded 1972
Sector Retail
DESCRIPTION

Shoppers World is a retail chain of discount department stores. Shoppers World operates 40 department stores with locations in New York, New Jersey, Indiana, Maryland, Virginia, Georgia, Michigan, Ohio, Illinois & Texas. Each store carries a full line of casual and dress wear for men, women and children of all ages, from newborn to juniors to plus size. In addition, they offer an incredible assortment of shoes, accessories and the largest selection of school and work uniforms around. Shoppers World also carries an amazing collection of home furnishings, housewares, linens and home decor. Shoppers World was founded in 1972 and is based in New York City.


DEAL STATS #
Overall 1 of 1
Sector: Retail M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New Jersey M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2023 M&A 1 of 1

Seller(S) 2

SELLER

Goode Partners

New York, New York, United States

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Goode Partners is a private equity firm that targets investment opportunities with high-growth potential that involve consumer-oriented companies. The firm typically commits between $10 million to $30 million of capital per transaction. Goode seeks companies that have economic considerations, need to generate cash proceeds to mitigate personal risk, are looking to secure equity capital for growth, and are looking to repurchase the ownership of other, inactive shareholders. The firm focuses its investments in consumer related businesses, including; consumer brands and services, retail, restaurants and direct marketing/selling. Goode Partners was founded in 2005 and based in New York City and has an office in Arcadia, California.


DEAL STATS #
Overall 9 of 9
Sector: Retail M&A 3 of 3
Type: Add-on Acquisition M&A Deals 3 of 3
State: New Jersey M&A 1 of 1
Country: United States M&A 9 of 9
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-13 Jocko Fuel

Wilton, Maine, United States

Jocko Fuel is a provider of a broad range of premium sports nutrition products. The company's product line was launched with the introduction of the first and all-time best-selling product, Joint Warfare. Jocko Fuel's product line has grown to include GO energy drinks, MÖLK protein powders, pre-workout powders, Greens powder, and various other supplement products delivered in multiple formats. It sells products through a balanced omnichannel model, including direct-to-consumer through the Company's website, Amazon, and key retail partnerships, including Vitamin Shoppe and Wawa, among others. Jocko Fuel was formed in 2017 and is based in Wilton, Maine.

Buy -
SELLER
DESCRIPTION

Cohesive Capital Partners is private equity co-investment firm. The Firm looks to invest and work alongside deal sponsors in small to mid-sized companies and will consider businesses operating in any sector. Prospective deal situations include buyouts, growth equity financings, and other opportunistic situations. Cohesive Capital Partners was formed in 2010 and is based in New York City.


DEAL STATS #
Overall 2 of 5
Sector: Retail M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 2
State: New Jersey M&A 1 of 1
Country: United States M&A 2 of 5
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-23 SSB

Doraville, Georgia, United States

SSB engages in designing, manufacturing and selling sleep products that give consumers the sleep they need to live the lives they want. Serta Simmons primary brands include Serta, Beautyrest, Simmons, and Tuft & Needle brands. SSB was founded in 2010 and is based in Doraville, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-20 Estis Compression

Kilgore, Texas, United States

Estis Compression is a vertically integrated manufacturer and rental provider of compression equipment for use in upstream oil and gas operations. Estis Compression is based in Kilgore, Texas.

Sell -