HUDSON, Ohio -- Jo-Ann Stores Inc., one of the few national retailers that prospered during the recession, has agreed to be acquired by a private equity firm in Los Angeles for $1.6 billion.
The deal with Leonard Green & Partners LP promises a premium for shareholders and should mean few changes for consumers at Jo-Ann's 756 stores, analysts said.[/quote]
Could this company also own Pet Smart? companies are bought and sold all the time.