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BRADENTON — Retailer Beall’s Inc. has acquired a distribution center and the intellectual property of Texas-based retailer Stage Stores Inc., which is in liquidation.
Bradenton-based Beall’s is a 105-year-old retailer with over 500 stores across the U.S. Terms of the deal were not disclosed.
The 435,000-square-foot distribution center is in Jacksonville, Texas, according to a press release. It belonged to Stage Stores Inc. prior to the acquisition.
“We are very excited about this transaction for many reasons," says Beall’s Inc. CEO and Executive Chairman Matt Beall in the statement. "The distribution center will allow us to gain additional merchandise processing capacity to support our expansion efforts. This is our first owned logistics facility located outside of the state of Florida. With our Burke’s Outlet chain expanding throughout the U.S., it is important that we shore up our foundation to support this growth."
According to the press release, the intellectual property acquisition includes the trademarks and trade names for Stage Stores, Goody’s, Gordmans, Palais Royal, Peebles and Bealls. Beall’s Inc. also acquired all the private label brands and customer lists that belonged to Stage Stores Inc.
"We are also excited to now own the national rights to the Bealls name," says Beall in the statement. "While Beall’s Inc. had rights to use the name Beall’s in Florida, Georgia and Arizona, Stage had previously owned the rights to use the name nationally. We believe that this will reduce confusion and create opportunities for us as we look to further grow our store and ecommerce presence.”
Beall’s Inc. is a family-owned corporation that operates more than 540 retail stores in 17 states under the names Bealls, Bealls Outlet, Burkes Outlet, Home Centric and Bunulu and online at beallsflorida.com and burkesoutlet.com. Beall’s reported $1.39 billion in gross revenue in 2019.
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