Franchise Group Sells Badcock Distribution Centers

June 21, 2022  by Laurie Northington in Business Strategy, Industry   

“Oak Street has proven to be a trustworthy partner throughout our sale leaseback process,” said Brian Kahn, president and CEO of Franchise Group. “We are pleased to close the sale of the Badcock distribution centers and retire the balance of our acquisition term loan with the cash proceeds.”

FRG expects to complete the sale-leaseback of the corporate headquarters by the end of the second quarter.

B. Riley Real Estate acted as advisor and Willkie Farr & Gallagher LLP served as legal counsel to Franchise Group.

Headline: Wayfair Releases Corporate Responsibility Report (1 logo)

Wayfair (NYSE:W), one of the world’s largest destinations for the home, has released its inaugural Corporate Responsibility Report, as the company shares and celebrates progress across environmental, social and governance topics.

"While we are at the beginning of our journey, we are motivated by our desire to continuously improve, and we’re invested in setting ourselves up for the long haul," Derek Oliver, head of government affairs and corporate responsibility. "Our dedication to helping anyone, anywhere build their feeling of home guides our work towards building a more fair, inclusive and sustainable world for future generations."

Wayfair’s corporate responsibility priorities include three areas where the company believes it can make the greatest impact — communities, workplace and planet.

Some of the key highlights include:

• Approximately $9 million in contributions to nonprofit partners and charitable causes across its communities.
• Introduction of new employee benefits to support physical and mental well-being, including expanded military leave, a global surrogacy and adoption reimbursement policy and expanded bereavement benefits.
• Commitment to reducing Scope 1 and Scope 2 greenhouse gas emissions by 63% by 2035.

To learn more about Wayfair’s goals and corporate responsibility performance in 2021, read the full report here.