Mergers & Acquisitions
Southern Power acquires the Boulder I solar facility in Nevada
Southern Company subsidiary Southern Power acquired a controlling interest in the 100-megawatt (MW) Boulder Solar I Facility in Nevada from SunPower Corp. While Southern Power will hold the majority share, SunPower will own the remaining interest in the project. The Boulder Solar I Facility is located in Clark County, approximately 20 miles southeast of Las Vegas. Southern Power co-owns two additional solar facilities in Nevada, the 20-MW Apex Solar Facility and the 30-MW Spectrum Solar Facility.
Weidmuller purchases Bosch Rexroth Monitoring Systems GmbH
The Weidmuller Group announced the purchase of Bosch Rexroth Monitoring Systems GmbH from Bosch Rexroth AG. The acquisition was completed November 1, 2016, following review and approval of the Competition Authorities. With this acquisition, Weidmuller strengthens its presence in the wind power industry and expands its solution portfolio for condition-monitoring technologies.
The new subsidiary, located in Dresden, Germany, employs 25 people and effective immediately, will operate under the name of “Weidmuller Monitoring Systems”. As part of the acquisition, the Weidmuller Group purchased the former facility of Bosch Rexroth Monitoring Systems in Dresden, where the condition-monitoring systems for wind power installations are developed, manufactured and distributed. These systems, marketed under the brand name BLADEcontrol, monitor the condition of wind turbine rotor blades and provide the ability to detect ice build-up.
Quality Custom Distribution purchases assets of Mile Hi Specialty Foods
Quality Custom Distribution (QCD,) a subsidiary of Golden State Foods (GSF), one of the largest diversified suppliers to the Quick Service Restaurant industry, purchased the assets of Mile Hi Specialty Foods to form QCD Rocky Mountain, LLC. The new business includes distribution centers in Denver, Colorado, Kansas City, Missouri, and satellite locations in Salt Lake City, Utah, Casper, Wyoming and Albuquerque, New Mexico.
QCD Rocky Mountain will service more than 900 restaurants throughout the North Central U.S., and customers include Starbucks, Chipotle, Einstein Bros. Bagels, and Noodles & Company. The combined Mile Hi Specialty Foods facilities employ approximately 235 associates, who will all have the opportunity to become part of the QCD/GSF family.
PepsiCo announces definitive agreement to acquire KeVita
PepsiCo Inc. entered into a definitive agreement to acquire KeVita, a leading North American creator of fermented probiotic and kombucha beverages. The transaction will expand PepsiCo’s health and wellness offerings in the premium chilled beverage space.
KeVita is a leader in fermented probiotic and kombucha beverages with three product lines and live probiotics in every bottle. With over two dozen flavors of Sparkling Probiotic Drink, Master Brew Kombucha and Apple Cider Vinegar Tonic, all KeVita drinks are certified organic, non-GMO, gluten-free and vegan. KeVita has a loyal and rapidly growing consumer base in the fast growing functional beverage space.
Awards, Milestones & Celebrations
ExxonMobil announces major expansion project
ExxonMobil announced plans to add a new production unit at its Beaumont polyethylene plant that will increase capacity by 65 percent – or approximately 650,000 tonnes per year — to meet growing demand for high performance plastics.
ExxonMobil is a leader in the manufacture of polyethylene products for packaging applications that deliver lightweight, tough, damage-resistant films. Construction of the new unit has begun at the plant, where current polyethylene production capacity is one million tonnes per year. Startup is expected in 2019.
REXA receives AIM-IBC 2016 Global Trade Award
REXA, the industry leader in Electraulic Technology, received a Global Trade Award by the Associated Industries of Massachusetts International Business Council (AIM-IBC). The award recognizes Massachusetts companies that demonstrate excellence in international trade and set the standard for global business.
PepsiCo, foundation donates Gatorade, money to communities In Haiti and Southeast US
PepsiCo is providing the Haitian Ministry of Health — through the NGOs, Partners in Health and Heifer International — 200,000 bottles of Gatorade, a sports drink which includes electrolytes and carbohydrates, for Hurricane Mathew victims in the southern region of Haiti. Additionally, the PepsiCo Foundation is donating USD $750,000 to the American Red Cross to support disaster relief efforts.
In the aftermath of the hurricane, one growing concern has been the outbreak of cholera and other diseases as a result of a lack of safe water and adequate sanitation for an estimated 1.2 million people, including 500,000 children. There have been at least 1,421 cholera cases reported. Diarrhea and/or vomiting, symptoms of cholera, can lead to dehydration. The correct combination of electrolytes, particularly sodium, plus carbohydrates, is critical to enable victims to absorb and retain water and these electrolytes, also help to replace electrolytes lost. Royal Caribbean Cruises Ltd. will be delivering the Gatorade to Haiti.