Jan. 10--Snyder's-Lance completes divestiture of Diamond
CHARLOTTE -- Snyder's-Lance, Inc. (Nasdaq:LNCE) announced that the company has completed the divestiture of its Diamond of California culinary nut business. As previously announced, the sale of Diamond of California aligns with the company's strategy to focus more resources on the growth opportunities for its core brands. The transaction also reflects the company's commitment to improving capital efficiency and is anticipated to be accretive to both returns on invested capital and operating margins. The transaction closed on Dec. 31, 2016.
Macy's to close two N.C. department stores
CINCINNATI, Ohio -- Macy's, Inc. (NYSE:M) announced a series of actions to streamline its store portfolio, intensify cost efficiency efforts and execute its real estate strategy. These actions bolster the company's strategy to further invest in omnichannel capabilities, improve customer experience and create shareholder value. The actions include the closure of 68 stores. Among the closings listed, the Carolina Place store in Pineville, which opened in 1993 and employs 69 associates, will close in early 2017. In addition, the Northgate store in Durham, which opened in 1994 and employs 72 associates, will close by the end of the year.
Kernersville company acquires Ga. company
KERNERSVILLE -- Best Logistics Group President Roy Cox announced the acquisition of C & S Distribution, based in Dalton, Ga. This further expands Best Logistics' scope of services. C & S was founded in 1989 to service the flooring industry in Dalton and North Georgia. With the foundation based on exceptional service, C&S grew to provide a range of services to the carpet and flooring industry from consolidation, less than truckload, and truckload service. Pete Bethea, the founder, will remain active during the transition.
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