Clark Holdings Inc.’s directors voted to explore financial and strategic alternatives for the provider of transportation and logistics services. The Trenton, N.J.-based company primarily serves the print media industry. The board hired Eve Partners LLC to help it evaluate options designed to improve shareholder value. Clark Holdings plans to consider the sale of the company. It also intends to evaluate a possible merger.
A.C. Moore Arts & Crafts Inc.’s board is considering the possible sale of the Berlin, N.J.-based retailer. A.C. Moore has 134 stores that sell arts, crafts and floral merchandise in the eastern United States. It is also considering a corporate financing and other strategic alternatives. It hired Janney Montgomery Scott LLC as a financial adviser. A.C. Moore received third party expressions of interest, but does not plan to discuss the process further until its board approves a specific deal.
St. Joe Co.’s directors decided to explore financial and strategic alternatives. The WaterSound, Fla.-based real estate developer will consider asset sales, acquisitions, a merger or the sale of the entire company. It also will evaluate other options, including a change in its business plan, as well as the pursuit of joint ventures and alliances. The board hired Morgan Stanley & Co. to help with the process.
VenGrowth Asset Management Inc. called up Crosbie & Co. to serve as its financial adviser. The Canadian private equity and venture capital firm has been evaluating options in a bid to improve shareholder value and liquidity. Its five retail VC funds, including VenGrowth Advanced Life Sciences Fund Inc., formed a special committee in January to lead the review. The committee hired McMillan LLP as its legal counsel.