Orange County Business Journal

FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Skilled Healthcare Being Bought By Genesis

Foothill Ranch-based Skilled Healthcare Group Inc. said today that it is being bought in an all-stock deal by Kennett Square, Pa.-based Genesis HealthCare. A purchase price was not disclosed.

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LYFE Kitchen Investor Moving Company to Memphis

Irvine-based restaurant chain and franchisor LYFE Kitchen received a minority investment from Carlisle Corp. and will move to that company’s Memphis, Tenn. headquarters, according to reports.

Hostile Bid for Allergan Hits Additional Hurdles

HEALTHCARE: 2nd FTC request for info could greatly slow, even kill deal

The hostile takeover attempt for Irvine-based Allergan Inc. by Valeant Pharmaceuticals International Inc. is moving into deeper regulatory waters, something likely to add additional months to the battle and that could even scuttle it.

Social Services Lease Would Top Year’s List

REAL ESTATE: OC’s biggest public agency in talks to move to Orange

The Orange County Social Services Agency is expected to move its headquarters from Santa Ana to Orange in what would be OC’s largest new office lease of the year.

Irvine Co. Land Gift Comes With Homebuilding Plans

REAL ESTATE: Still plans up to 1K homes in East Orange

The Irvine Company hasn’t abandoned its homebuilding plans on the northern edge of the Irvine Ranch, despite its intentions to donate a large chunk of land there to the county.

Ice Cream Shops Plan to Franchise

RESTAURANTS: Farrell’s, Creamistry proceed separately

Farrell’s Ice Cream Parlour Restaurants’ parent, Lake Forest-based Parlour Enterprises Inc., and Irvine-based Creamistry separately said they will begin franchising.

Irvine Firm Builds on YouTube Business With New Unit

FINANCE: Semaphore rollout helps ‘Tubers’ brand and more

Irvine-based financial services firm Semaphore is betting on the growing field of YouTube entertainment and its increasing capacity to attract brands to advertise to the younger crowd.

Firms Acquire Stake in Movie Company

Two Orange County-based investment firms have partnered to acquire a majority stake in Mob Scene LLC, an entertainment marketing and production company in Beverly Hills.

Golden State Buys Again in New Zealand

Irvine-based food manufacturer and distributor Golden State Foods Corp. acquired a vegetable supplier in New Zealand on undisclosed terms.

Hospitals Closely Watch State Reimbursement Case

Appellate Decision Could Bring Wide Implications

Hospitals in Orange County and other areas are keeping their eyes on a long-running reimbursement case that could reach the California Supreme Court.

High-Rise Office Market Has Busier Second Quarter

The high-rise office market in Orange County ended the second quarter with increased demand, resulting in 510,455 square feet of positive net absorption, nearly all of which took place in the Greater Airport Area submarket—508,945 square feet.

Healthcare REIT Sale Winner for Griffin-American

Former Grubb Offering To Be Sold for $4 Billion

Griffin-American Healthcare REIT II in Irvine, an owner of healthcare-related real estate properties that has ties to Grubb & Ellis Co., appears to be one of the few winners emerging from the brokerage company’s short-lived stint as an Orange County-based company.

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Masimo Receives FDA Warning Letter

Irvine-based Masimo Corp. has received a warning letter from the Food and Drug Administration on its manufacturing practices, the company said today in a regulatory filing.

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OC Loses Jobs, Unemployment Rate Ticks Up

Orange County lost 13,900 jobs in July, breaking a five-month streak of job gains.

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Irvine chipmaker raises $19.7M

Irvine-based networking chipmaker ClariPhy Communications Inc. has raised $19.7 million in venture funding, according to San Francisco-based market tracker CrunchBase.

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SEC Looking Into Valeant, Pershing Square

The Securities and Exchange Commission is probing Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP to determine if there has been a breach of insider trading laws in their hostile bid for Irvine-based Allergan Inc., according to reports.

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Creamistry Ice Cream Shops to Franchise

Irvine-based ice cream shop Creamistry plans to franchise and expand its present single site at the Crossroads shopping center on Barranca Parkway.

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Golden State Foods Buys Salad Supplier in NZ

Irvine-based food manufacturer and distributor Golden State Foods Corp. has acquired a vegetable supplier in New Zealand.

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Wet Seal Opens ‘Plus’ Stores

Wet Seal Inc. said it will celebrate the opening of 31 Wet Seal Plus stores across the country on Aug. 16, including one Orange County location at The Shops at Mission Viejo.

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Real Mex Names Yum Vet CFO

Cypress-based Real Mex Restaurants Inc. said on Monday it named Laurie Lawhorne its new chief financial officer.

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Does Dual Dip Point to Diminished Prospects for Allergan Deal?

HEALTHCARE: Valeant bid valued just above target’s market value

Investor sentiment appears to be quietly moving away from the increasingly noisy takeover attempt of Irvine-based Allergan Inc.

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Sources Say Harrah Bids $27 Million for Register Building

REAL ESTATE: Lease-back an option for newspaper’s operations

Santa Ana developer Mike Harrah is closing in on a deal to buy the headquarters of the Orange County Register, according to sources.

Niagara Distributing Sells Delivery Routes to Nestlé

SERVICES: Peykoff family retains bottling operation in IE

Niagara Distributing LLC in Irvine has sold its home and office delivery routes to Glendale-based competitor Nestlé USA.

Pignatelli Resigns From Biolase Board

Federico Pignatelli, a director of Irvine-based Biolase Inc., resigned from the company’s board and withdrew his nomination for election at its upcoming annual meeting.

Confie Makes Trio of Brokerage Buys

Huntington Beach-based Confie Seguros Insurance Services Inc. acquired three brokerages to add to its growing list of offices nationwide. Terms were undisclosed for all three transactions.