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After 23 years of active duty in the U.S. Army, Jason Schenkel faced an uncertain future when he retired from the military a little more than a year ago.

Published in Supplements
Sunday, 13 November 2016 14:03

MiBiz Growth Report: Nov. 14, 2016

Here is the MiBiz Growth Report for Nov. 14, 2016: 

• M&A: Byron Center-based SpartanNash Co. (Nasdaq: SPTN) signed a definitive agreement to acquire certain assets of Caito Foods Service Inc. and its Blue Ribbon Transport business for about $217.5 million in cash, according to a statement. The deal includes an earn-out potential of an additional $12.4 million if the business hits performance targets. SpartanNash, which expects the transaction to be accretive to 2017 earnings, will fund the deal with proceeds from its lending facility. Subject to regulatory and other approvals, the deal is anticipated to close in early January 2017. The combined Caito and Blue Ribbon Transport businesses generate annual revenues exceeding $600 million. Caito supplies fresh fruit and vegetables to groceries and distributors in 22 states in the Southeast, Midwest and Eastern regions of the country. The company has facilities in Indiana, Ohio and Florida. SpartanNash was advised on the deal by Deutsche Bank (financial) and Morgan Lewis (legal).

Published in In the News
Sunday, 30 October 2016 17:16

MiBiz Growth Report: Oct. 31, 2016

Here is the MiBiz Growth Report for Oct. 31, 2016.

• M&A: Ferris Coffee & Nut Co. has acquired Kalamazoo-based Lush Gourmet Foods, a maker of flavored peanuts and almonds. Grand Rapids-based Ferris Coffee & Nut Co. will allow Lush Gourmet to operate under its original brand, according to a statement. Lush Gourmet founder Bisera Urdarevik will join Ferris Coffee & Nut Co. as the company’s creative director of product development. Lush Gourmet’s production will be transferred to Ferris Coffee & Nut Co.’s Grand Rapids headquarters in early 2017, according to the statement. Urdarevik created Lush Gourmet in 2011 while studying as a culinary student at Kendall College in Chicago. Terms of the deal were not disclosed. 

Published in In the News

Automotive supplier Gestamp North America Inc. will invest $158 million to expand its manufacturing facilities in Chelsea and Mason.

Published in In the News
Sunday, 16 October 2016 19:27

MiBiz Growth Report: Oct. 17, 2016

Here is the MiBiz Growth Report for Oct. 17, 2016: 
• M&A: Grand Rapids-based Ranir LLC, a manufacturer of a variety of oral care products, has acquired Toronto-based BrushPoint, a maker of toothbrushes. In the deal, for which terms were not disclosed, Ranir will increase its product offerings and distribution footprint in the U.S., Canada and Europe. The BrushPoint acquisition comes on the heels of a deal in July of this year in which Ranir purchased the Rembrandt teeth-whitening brand from Johnson & Johnson Consumer Inc. Last month, the company also said it had purchased the 200,000-square-foot facility at 4701 East Paris Ave. SE where it had been a tenant for 20 years.

Published in Frontpage News

trio of initiatives from the Michigan Economic Development Corp. aims to increase the flow of capital to startups and early-stage companies in the state.

Published in Finance

Coastal Automotive took the first step in its four-year global expansion strategy by announcing a $6.5 million investment to establish a new manufacturing facility in Holland.

Published in In the News

A West Michigan information technology firm specializing in cyber security, network infrastructure and other services plans to upgrade its facility in Kentwood.

Published in In the News
Sunday, 02 October 2016 14:19

MiBiz Growth Report: Oct. 3, 2016

Here’s the MiBiz Growth Report for Oct. 3, 2016: 

• M&A: Glenmoor Village, a Battle Creek-based manufactured home community, has been acquired by Chicago-based Zeman Homes Inc., according to a statement. Zeman, one of the largest private operators of manufactured home communities, now has seven properties in Michigan, plus sites in Arizona, California, Florida, Illinois and Indiana. Terms of the deal were not disclosed. Glenmoor opened in 2002, according to a report in the Battle Creek Enquirer

Published in In the News

To help make Michigan more attractive for large-scale real estate developments, lawmakers want to give developers new options to help fund their projects.

Published in Design Build
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