Utz to acquire Chicago-based Vitner’s as it chases salty snacks in the Midwest
Potato chipmaker Utz Brands plans to buy Chicago-based Vitner’s as it seeks a bigger bite of the salty snacks market in the Midwest. Utz Quality Foods, a subsidiary of Hanover, Pennsylvania-based Utz Brands, announced Monday that it has agreed to pay $25 million to Snak King to acquire certain parts of Vitner’s, including its trademark, intellectual property and distribution assets. Vitner’s, founded in 1926 on Chicago’s South Side as the C.J. Vitner Company, was one of the oldest family-run snack food companies in the U.S. when it was purchased by California-based Snak King in 2011. Snak King...
Austin's FlashParking to merge with Chicago-based Arrive
Austin-based FlashParking, which develops technology for managing parking lots, is merging with Arrive Inc., a Chicago-based online platform that lets drivers find and book parking spaces. Financial terms of the deal were not disclosed. FlashParking CEO Dan Sharplin said the coronavirus pandemic has increased demand for digitized and touchless alternatives to traditional parking. "We have seen first-hand the devastating effects of the pandemic on the parking industry," Sharplin said. "A key component to recovery is deployment of cloud-based, future-ready technologies that allow owners and oper...
Top jobs for Stellantis: electrification, restructure Europe, compete in China
When Fiat Chrysler Automobiles NV and French automaker Groupe PSA merge on Jan. 16 to become Stellantis NV, the new transnational automaker's priorities will be to advance a robust electrification strategy, right-size product development operations and chart a path forward in China, the world's largest auto market. Shareholders of both companies on Monday overwhelmingly voted in favor of the combination. As the world's fourth-largest automaker by volume, Stellantis aims to combine the profit machines of Jeep SUVs and Ram pickups in North America with the hefty margins delivered by PSA — the ma...
The Detroit News
Ford's 'pivotal' deal with Mahindra goes kaput, adding twist to financials
A cost-cutting deal called "pivotal" by Ford in 2019 has gone kaput, the automaker announced just after the stock market closed on New Year's Eve. It was a quiet but dramatic turn of events for Ford that potentially carries financial consequences in 2021 and throws into question Ford operations in India. Ford loses money in all markets in the world except North America. The Dearborn, Mich., automaker and powerhouse vehicle maker Mahindra & Mahindra have "mutually and amicably determined they will not complete a previously announced automotive joint venture between their respective companies." ...
Detroit Free Press
Yu Darvish at the center of trade talks between the Chicago Cubs and San Diego Padres. Could Victor Caratini be added too?
CHICAGO — Three years after acquiring Yu Darvish in an attempt to regain their dominance in the National League, the Chicago Cubs are in discussions to trade the 2020 NL Cy Young runner-up to the resurgent San Diego Padres. A source confirmed Monday the two teams are in the midst of negotiations involving Darvish, 34, who posted an 8-3 record and 2.01 ERA in a shortened 2020 season. Darvish is owed $59 million over the final three years of his six-year contract signed in February of 2018. The Cubs, facing several issues involving potential free agents Javier Baez, Kris Bryant and Anthony Rizzo...
Padres finalizing deal for Blake Snell in trade for Luis Patino, other prospects
SAN DIEGO — The San Diego Padres made a move to replace their ace. The team on Sunday night was close to finalizing a deal to acquire starting pitcher Blake Snell from the Tampa Bay Rays in exchange for Luis Patino, Francisco Mejía, Cole Wilcox and Blake Hunt. Multiple sources confirmed the deal, which was first reported by The Athletic. Snell moves into the spot atop the Padres’ rotation left empty when Mike Clevinger underwent Tommy John surgery last month. Snell, 28, won the American Cy Young award in 2018 and has a 2.85 ERA and 1.10 WHIP over the past three seasons. He had a 3.24 ERA and 1...
The San Diego Union-Tribune
Tribune Publishing to sell BestReviews website to Nexstar for $160 million
Tribune Publishing and BR Holding Company will sell the BestReviews website to TV station owner Nexstar Media Group for $160 million, the companies announced Wednesday. The deal to sell the profitable e-commerce website is pending regulatory approval and is expected to close before the end of the year. Tribune Publishing bought a 60% stake in BestReviews for $66 million in February 2018, with its founder, BR Holding, retaining 40%. Under the terms of the deal, Tribune Publishing will receive $96 million, less transaction fees and a working capital adjustment. “This cash return strengthens our ...
Ivanka Trump, Jared Kushner reportedly buy $30 million plot of land in Florida
MIAMI — Jared Kushner and Ivanka Trump appear to be moving to Miami-Dade County. The daughter and son-in-law of President Donald Trump have purchased a plot of land in tony Indian Creek Village. The news was first reported by the New York Post’s Page Six, which said the acquisition is “believed to be” of a 1.8-acre, 80,000-square-foot plot most recently owned by Julio Iglesias and listed at $31.8 million. Jill Eber, founding partner with luxury residential brokerage firm The Jills Zeder Group, an affiliate of Coldwell Banker Residential Real Estate and the listing agent for the land, declined ...
Federal sale of Seattle's National Archives property is being sped up. Attorney general says he will sue
SEATTLE — With government agencies, there are public notices, and there are public notices. For two months, an Oct. 1 decision to rush through the federal government’s controversial sale of the National Archives facility in Seattle went basically under the radar. Instead of taking until July 2021 to sell the Sand Point Way NE facility, as previously announced by the archives, a real estate broker is to be awarded the contract by the end of December. The feds’ sale of the property will proceed this coming winter and spring. On Friday, Washington Attorney General Bob Ferguson said he plans to su...
The Seattle Times
GM backs out of stake in Nikola, cancels plan for 'Badger' electric pickup
DETROIT — General Motors and Nikola Corp. have a deal, though it’s a much smaller one compared with the one first struck in September.In a non-binding memo of understanding signed by GM and Nikola on Monday, GM will now supply the fuel-cell technology to make commercial long-haul trucks for Nikola and nothing more — with no equity stake in Nikola as previously proposed.This pending transaction comes after controversies that swamped Nikola since the original deal was announced Sept. 8 in which GM would have gotten 11% equity in the company to build an electric heavy-duty pickup for Nikola calle...
Detroit Free Press