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Sunday, 26 June 2016 11:18

MiBiz Growth Report: June 27, 2016

Here is the MiBiz Growth Report for June 27, 2016.

• M&A: German company Kion Group AG, an industrial truck, material handling and logistics automation equipment manufacturer, plans to acquire Dematic Corp. for approximately $2.1 billion in what executives described as a “landmark” transaction. The deal values the logistics and automation firm, whose North American operations are based in Grand Rapids, at an enterprise value of $3.25 billion, according to a joint statement. Dematic generated $1.8 billion in revenues and $166 million in adjusted earnings before interest and taxes during the calendar year 2015. Kion Group will acquire Dematic from funds managed by New York City private equity firm AEA Investors LP and the Ontario Teachers Pension Plan. The deal, which is expected to close in the fourth quarter pending regulatory approval, also carves out “certain liabilities,” according to a statement.

Published in In the News

Perrigo Co. plc will sell off its vitamins, minerals and supplements business to International Vitamin Corp. of Freehold, N.J.

Published in In the News

CWD Real Estate Investment Inc. appears primed to make another significant acquisition in Grand Rapids’ central business district.

Published in Commercial Real Estate

As the craft beverage industry matures, it’s attracted new entrants who may be more concerned with making a quick profit than with the quality of the liquid. 

Published in Beer and wine

West Michigan contractors and architects point to the diversification of backlogged projects as further proof of a healthy regional economy. 

Published in Design Build

With nearly 2,000 new apartment units in the development pipeline for downtown Grand Rapids, many in the community have started to wonder when a full-service grocery store will open in the city core.

Published in Commercial Real Estate

Industry watchers expect some of the same consolidation activity that’s taken the craft brewing industry by storm in recent years to spread into its agricultural supply chain, particularly for hops.

Published in Beer and wine

Despite a long career in the beer distribution business, Keith Klopcic lacked expertise in making the beverages he sold to bars and retailers around the state of Michigan. So when the opportunity arose to buy Comstock Park-based Perrin Brewing Co. last year, he tapped a partner with extensive craft brewing resources who had the know-how to help him continue scaling up the business.

Published in Beer and wine

Fifth Third Bancorp. has quietly put its longtime home in downtown Grand Rapids on the market, the sale of which could reshape the city’s central business district, MiBiz has learned.

Published in Commercial Real Estate

The law firm will be the anchor tenant in the new development planned by Orion Real Estate Solutions, the development arm of Grand Rapids-based Orion Construction Inc.

Published in In the News
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