Wednesday, January 27, 2016
ACCELERATING INDUSTRY NEWS
Ashland Inc. has signed an agreement to acquire OCH International, Inc. (Oil Can Henry’s), which operates and franchises 89 quick-lube stores in 6 states. The addition of Oil Can Henry’s will complement Ashland’s Valvoline Instant Oil Change network of 940 stores...Wingstop Inc. announced a 35-unit development agreement with Sizzling Platter, a restaurant management company, which will allow Wingstop to expand its footprint along the East Coast, with restaurants planned for Washington, DC, VA, and UT. Wingstop Inc. operates and franchises 807 restaurants globally... Taziki’s Mediterranean Café opened its 52th location last month. Taziki’s has stores in 15 states...La-Z-Boy opened a new urban, small footprint store in Washington DC. The 3,000 s/f showroom is less than 1/4 the size of typical stores... The former owners of Oak NYC stores have reached an agreement to buy back their two stores in LA and two in the NYC from American Apparel...Target is planning stores of 45,000 s/f or less - 2 in Philadelphia, 3 in New York City and 2 in Chicago. Target opened 15 stores in 2015, 7 of which were traditional stores and 8 were smaller format...Middle Eastern restaurant chain Naf Naf Grill plans 10 new stores in 2016, and will build 150 stores in the next 5 years....Carl Icahn’s Icahn Enterprises will buy Pep Boys for $18.50 per share. The all-cash deal is valued at approximately $1.03 billion. Bridgestone Retail Operations, which also bid for Pep Boys, said it would not present a counter-offer. The company topped Icahn’s two previous bids, but declined to enter the third round. Icahn plans to combine the company, which has more than 800 locations, with the Auto Plus chain, which he acquired earlier this year... Sonic Drive-In signed franchise agreements to open 33 new drive-ins in multiple markets across CA over the next 7 years...Circle K Stores Inc., a division of Alimentation Couche-Tard, has purchased 62 convenience stores in 9 states from Greatstone Equities Inc. Couche-Tard operates 8,000 convenience stores in North America...Steve Shannon Tire Co. Inc. is opening its 17th store in Sugarloaf, PA...Shinola brought its retail store count to 12 with the opening of locations in Miami, FL and Portland, OR...Philly Pretzel Factory is adding up to 40 stores in the Washington DC area, and plans to have 500 locations nationwide by 2020. The company currently has locations in 13 states... Dollar Tree will open 13 new stores throughout Pennsylvania...WineStyles Tasting Station has 21 locations, and plans to add at least 10 new stores, expanding its brand nationally in 2016....Sportsman’s Warehouse will open 3 new stores in the summer of 2016... Arby’s has signed a development agreement with its largest franchisee, United States Beef Corporation, to open 70 restaurants over the next 7 years. US Beef runs 331 Arby’s franchises. Arby’s has 3,300 total restaurants.