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Grocers shopping for retail space in N.J.
“We’re seeing a competitive atmosphere as the supermarket companies are looking to find locations,” Lanyard said. “We’re in negotiations with several grocers as they’re looking to expand their footprints from smaller locations or find new locations.” Store closing in recent years have created vacancies that open the door for other supermarkets, he said, en[...]
Following price increase, Sealed Air declares dividend
The company announced on Tuesday a North American price increase between 4 and 9 percent for most of its food and product care items, according to an earlier release. The company blamed the increase on rises in prices charged by petrochemical suppliers in the North American market, which provide the company with the raw materials […]
Whole Foods plan a boon to Newark’s residential expansion hopes
That makes little sense to the Brick City-based developer, who believes “if you’re living in a downtown, you should be within walking distance from a grocer.”Hanini’s wish will come true by 2016, when Whole Foods will open its first location in Newark. Under a deal announced today, the organic and natural foods grocer will occupy […]
Heartland Payments invests $20M in next-generation commerce company
David Gilbert, president of Heartland’s hospitality group, said the company believes Leaf’s technology is fast adapting to the array of mobile devices through which consumers are increasingly doing business. “We’re at a tipping point in terms of convergence of technologies,” Gilbert said. “People are carrying around sophisticated devices in their pockets with am[...]
Burlington Stores Inc. closes 260M IPO
The offering pricing was first announced last week. According to the announcement, the Company’s common stock began trading on the New York Stock Exchange under the symbol BURL on October 2, 2013. J.P. Morgan, Morgan Stanley, BofA Merrill Lynch, Goldman, Sachs & Co., and Wells Fargo Securities acted as joint book-running managers for the offering. […]
BG Foods acquires Rickland Orchards for 57.5M
According to the announcement, the acquisition of Rickland Orchards, whose products include Greek yogurt coated granola bars and bites, is the fourth acquisition by B&G Foods since October 2012. Jason Cohen, the founder and chief executive officer of Rickland Orchards, is joining B&G Foods as executive vice president of club channel. In this capacity, Mr. […]
Comic Con connection is serious business for startup
With that, Hazarai For All Fankind was born. Griggis, the CEO and a self-confessed geek, believes the culture — defined by avid interest in comic books, action figures and video games — lacks a centralized online destination where users can buy and sell merchandise, or simply share common passions. Griggs said comic book conventions are […]
BK Specialty Foods holds ribbon-cutting for new Swedesboro facility
The move to South Jersey serves as a complete relocation for the company, which had based in Philadelphia since it was formed in 1986. The facility will create 10 new jobs in Swedesboro in addition to the 55 it is bringing over from Philadelphia. The company began operations in Swedesboro last month. President Brett Kratchman […]
Outlet CollectionJersey Gardens working to update its image by upgrading its design
And no, we’re not talking about American Dream. Nearly 15 years after opening in Elizabeth, the Jersey Gardens outlet mall has quietly received a $30 million makeover from its owner, Glimcher Realty Trust. The effort comes as two other colossal, long-awaited retail projects grab headlines and loom on the horizon in New Jersey, but executives […]
Maidenform shareholders approve 575M purchase by Hanes
Stockholders voted at a special meeting today to allow the proposed merger to proceed, in which Hanes will acquire all outstanding shares of Maidenform common stock for $23.50 per share in cash.According to the announcement, an overwhelming majority of votes cast favored the transaction. Votes were tallied from shareholders of the company’s common stocks as […]
Pinnacle closes 575M Wish-Bone acquisition from Unilever
According to the announcement, the acquisition was funded through a combination of cash on hand and new debt. The new debt consists of a $525 million term loan, due 2020. In making the announcement, Pinnacle reaffirmed its outlook for Wish-Bone to be $0.01-$0.02 accretive to EPS in the fourth quarter of fiscal 2013. In addition, […]
Harlem cupcake baker has a taste for his hometown of Newark
That was the site of Rozier’s first cupcake shop — a 400-square-foot space he shared with a sandwich bar — that he opened in 2004 after changing careers. Admittedly, he “didn’t have a clue” when he was offered the space. “If I knew what I know now, I wouldn’t have done it,” said Rozier, 44. […]
