AMERICAN INDUSTRIAL PARTNERS COMPLETES ACQUISITION OF CURRENT, POWERED BY GE GE announced it has completed the sale of its Current, powered by GE business unit to American Indus- trial Partners (AIP), a New York-based private equity firm focused on buying, improving and growing industrial businesses. Current’s portfolio spans LED and traditional lighting solutions, along with a wide variety of intelligent controls, sensors and software. The business delivers energy savings and operational productivity for its customers, which include commercial offices, retail stores, industrial facilities and cities. Under a long-term licensing agreement, Current will continue using the GE brand on its products and services moving forward.
Financial details of the deal have not been disclosed.
SHOPPING WITH AMAZON JUST GOT A LITTLE EASIER Kohl’s has announced it will start accepting returns for items purchased on Amazon at all of its stores across the country, starting later this year in July. This marks an extension of a partnership between Kohl’s and Amazon that dates to the spring of 2017, when Kohl’s began selling Amazon gadgets — like its smart-home products — at some stores and started handling Amazon returns at about 80 locations. Early this year Kohl’s stores that were accepting Amazon returns grew to 100 however the retailer said it will now roll out to more than 1,150 locations across the U.S. “Amazon and Kohl’s have a shared passion in providing outstanding customer service, and this unique partnership combines Kohl’s strong nation- wide store footprint and omnichannel capabilities with Amazon’s reach and customer loyalty,” Kohl’s CEO Michelle Gass said. She added, this is part of the company’s bigger plan to “drive traffic” to stores and “bring more relevance” to shoppers. Kohl’s is testing other ways to drive traffic to its stores, too, beyond collaborating with Amazon.
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APRIL 2019 • SPOTLIGHT ON BUSINESS MAGAZINE
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