New Hampshire Business Newsreel
Retail trade group in rebranding effort
BOW — The Retail Merchants Association of New Hampshire has a new name — the New Hampshire Retail Association — along with a new office and a new logo.
"In 2016, we'll be celebrating our 50th anniversary," said Nancy Kyle, president and CEO of the organization. "In preparation for that, our board of directors voted to update our image and rebrand ourselves. We've dropped the word 'merchants' from our name, and are very excited about our new, more modern logo."
In addition to changing its name, the association moved its offices from Concord to Bow, at 48 Grandview Road, Suite 2.
"That was merely an issue of functionality," said Office Manger Amanda Holden, explaining that the Concord location was larger than what the organization needed, the lease was up, and a better location became available.
Ayotte to provide update to leaders
The Business and Industry Association of New Hampshire is hosting U.S. Sen. Kelly Ayotte on Friday for a briefing with business leaders.
The senator is scheduled speak at a luncheon event at the Radisson Hotel, 700 Elm St., Manchester from 11:30 a.m. to 1:30 p.m.
Registration begins at 11:30 a.m. with the formal program commencing at noon.
Ayotte is expected to address such topics as the recent federal budget deal, national debt, entitlement reform and the Affordable Care Act and to take questions from the audience.
Cost to attend the luncheon is $35 for BIA and Capitol Connect members and $49 for future members. To register, visit BIAofNH.com/events. Call 224-5388, extension 116 for information.
Signet to acquire Zale in $1.4 billion deal
WASHINGTON — Signet Jewelers Ltd., operator of the Kay and Jared brands, has agreed to buy Zale Corp. in a deal valued at about $1.4 billion, including debt, letting the company extend its lead as the largest jewelry chain in the United States.
Signet is paying $21 in cash per Zale share, about 41 percent more than Zale's closing price Tuesday. Including Zale's debt, which was about $500 million as of October, the transaction represents an enterprise value of 7.4 times Zale's adjusted earnings before interest, taxes, depreciation and amortization, according to a statement Wednesday.
The purchase marks the biggest acquisition yet for Signet, which is gaining brands such as Zales and Peoples. It also adds more than 1,600 retail locations to Signet's 1,900 stores, strengthening its lead over Tiffany & Co. For Zale, which has seen its sales stagnate, the deal provides merchandising expertise that could help it return to growth, said Ken Gassman, president of the Jewelry Industry Research Institute.