DEERFIELD, Ill.–Walgreens has struck a deal to acquire the Duane Reade pharmacy chain from Oak Hill Capital Partners. The purchase price, all in cash, is $1.075 billion, which includes the assumption of debt, according to a joint statement from the two companies. The deal includes all 257 Duane Reade stores in the New York City … More »
TARRYTOWN, N.Y.–Belgian-based cookware company GreenPan has opened its first major office in the U.S. here, as it prepares to increase both its sales and presence in North America and South America. Industry veteran and former independent sales representative Rick Lapine has been appointed president of the division, which will serve as the sales, marketing and … More »
RYE, N.Y.–Jarden reported net income of $1.2 million, reversing a net loss of $170 million from the fourth quarter of one year ago. The bottom-line results included a non-cash impairment charge of $22.9 million for the 2009 fourth quarter, compared to a similar charge of $283 million for the fourth quarter of 2008. Without these … More »
NEW YORK–The Vipp trash bin, which has barely changed in either design or materials since it was first crafted by Holger Nielsen in 1939, has been accepted into the Museum of Modern Art. Vipp bins are available for sale through the MoMA store, as well as other stores worldwide.
FRANKFURT, Germany–The Ambiente trade fair, which wraps up today here, made one thing clear: tabletop and housewares companies have made significant investment in the business and are positive about future prospects. That was evident in both the number of product introductions here and in the stands themselves as companies constructed new booths that were bright, … More »
NEW YORK–The 230 Fifth Ave. showroom building has announced a slate of new showrooms and expanded showrooms. Among the building’s new tenants are The Mega International, which specializes in textiles for the kitchen, bathroom and living room, in room 405A,; Vivatex Home, a manufacturer of textiles for the window, bedroom, bathroom and kitchen, on the … More »
PHILADELPHIA–Westinghouse Lighting has relocated its Asian headquarters to the centrally located downtown Chang’an of Dongguan City, China, as part of its global restructuring. Now in an expanded, modern office building, the new location will enable the company to support international product development, order fulfillment and supply chain goals. This follows the recent relocation of its … More »
MERRIMACK, N.H.–Brookstone reported net income of $55 million for its fiscal fourth quarter, turning around from a fourth-quarter loss of $117.4 million from one year ago. The reversal reflected a net-sales gain of 3.4 percent, to $227.7 million; a whopping 1,250 basis-point increase in gross margin, to 45.2 percent; and the absence of a $89.8 … More »