Sears Acquires France
By Ed Driscoll · November 19, 2004 03:05 PM
· Capitalism, the Unknown Ideal
The retail industry received another shake-up today as Sears Holding Corp. (NYSE: S), the parent company behind the recent merger of Sears and Kmart, announced the acquisition of embattled European cheesemaker France (NASDAQ: FROG). The buyout deal, estimated at $2.7 billion, will position Sears/Kmart/France as the world's third largest retailer and 15th ranked military power.I'd say it's a smart move on Sears' part: it always makes sense to buy an asset when its share value has bottomed out.
But can Sears turn their new asset--a perennial underperformer--around?
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