Year: 1995

Industry: Apparel, Footwear & Accessories, Specialty Retail

Service: Sell-Side M&A

Geography: North America

Financial Advisor to The Melville Corporation on Divestiture of the Marshalls Division

The Melville Corporation, a large retail holding corporation now known as the CVS Corporation, engaged Financo for numerous transactions including the divestiture of its Marshalls division. Marshalls was sold to the TJX Companies.

The transaction combined 495 Marshalls discount apparel stores with 571 TJMaxx locations into an entity that grew to generate over $4.5 billion of annual revenue.

The success of the merger included the ability to seamlessly integrate two direct competitors. In addition to anticipated cost savings, the new entity realized significant revenue advantages and yielded a meaningful increase in the stock price of TJX.

  • 1995

This transaction was completed prior to Raymond James’ acquisition of Financo.