Ed Driscoll

Sears Acquires France

Iowahawk “reports”:

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?