Orange County Business Journal

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Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Healthcare REITs to Merge

Sabra Health Care REIT Inc. in Irvine and Care Capital Properties Inc. in Chicago plan an all-stock merger that’s expected to close in the third quarter.

By Sherry Hsieh, Paul Hughes May 8, 2017 9:29 a.m. share »
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State Farm to Shut Irvine Office

State Farm Mutual Automobile Insurance Co. plans to close its Irvine office in 2019, a move that will affect 360 employees there.

By Peter J. Brennan May 5, 2017 10:32 a.m. share »
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Kush Bottles Buys Distributor

Santa Ana-based Kush Bottles acquired CMP Wellness in a cash and stock deal valued at about $21 million.

By Chris Casacchia May 5, 2017 10:28 a.m. share »
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$2M Remediation for ‘Toxic’ Fullerton Site

Current and former owners of the site of a former Chicago Musical Instruments manufacturing facility in Fullerton will pay about $2 million to the state in a deal unveiled today.

By Deirdre Newman May 4, 2017 4:58 p.m. share »
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Overwatch Drives Blizzard Sales

Booming sales of the first-person, futuristic shooter “Overwatch” and an uptick in “World of Warcraft” subscribers boosted revenue in the first quarter for Blizzard Entertainment Inc.

By Chris Casacchia May 4, 2017 2:48 p.m. share »
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El Pollo Loco Q1 Mixed

El Pollo Loco Holdings Inc. in Costa Mesa earned net income of about $5 million on revenue of about $100 million in its first quarter.

By Paul Hughes May 4, 2017 2:04 p.m. share »
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Del Taco Up In Q1

Del Taco Restaurants Inc. in Lake Forest earned net income of about $4 million on revenue of $105 million in the first quarter, compared with the same period last year.

By Paul Hughes May 4, 2017 2 p.m. share »
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Coffee Co. Taps Two

Retail Food Group USA in Santa Fe Springs has brought on two executives to boost its wholesale and retail coffee businesses.

By Paul Hughes May 4, 2017 11:27 a.m. share »
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UEI Boosts IoT in Asset Buy

Santa Ana-based Universal Electronics Inc. has boosted its growing Internet of Things business with a $9 million purchase of certain assets from Residential Control Systems Inc.

By Chris Casacchia May 4, 2017 10:58 a.m. share »
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Hybrid Apparel Adds Brand

Hybrid Apparel in Cypress launched Love Tribe brand, a Disney princess-themed line of clothing for young women that’s available only at Macy’s department stores.

By Mediha DiMartino May 4, 2017 10:37 a.m. share »
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Taco Bell Profit Up 19%

Core operating profit at Taco Bell Corp. in Irvine grew 19% year-over-year in the first quarter of 2017, topping the 9% overall growth at parent company Yum Brands Inc.

By Paul Hughes May 3, 2017 3:46 p.m. share »
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Habit Q1 Numbers Up

Habit Restaurants Inc. in Irvine said revenue, net income and same-store sales rose in the first quarter, compared with the same period a year ago.

By Paul Hughes May 3, 2017 3:30 p.m. share »
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UCI Prof Named to Science Academy

University of California-Irvine said Professor James Randerson was elected to the National Academy of Sciences.

By Deirdre Newman May 3, 2017 1:52 p.m. share »
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Capital Bank Sold

San Juan Capistrano-based Capital Bank agreed to be bought for $60 million in cash and stock by San Diego-based Seacoast Commerce Banc Holdings.

By Peter J. Brennan, Sarah de Crescenzo May 3, 2017 11:40 a.m. share »
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Axonics Raises $14.5M

Axonics Modulation Technologies Inc. closed $14.5 million in series C financing, pushing its total fund-raising past the $85 million mark.

By Sherry Hsieh May 2, 2017 11:29 a.m. share »
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Eye Device Maker Lands $21M

Irvine-based LensGen Inc. has closed $21 million series A financing, with an option to expand the financing commitment by an additional $5 million.

By Sherry Hsieh May 2, 2017 10:32 a.m. share »
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Alliant Buys Idaho Firm

Newport Beach-based Alliant Insurance Services Inc. purchased Summit Insurance Resource Group to expand in northern Idaho and eastern Washington. Terms of the agreement weren’t disclosed.

By Peter J. Brennan May 2, 2017 9:38 a.m. share »
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Amway Unit to Lay Off Workers

Amway Corp.’s Buena Park facilities will see an unknown number of layoffs this week, according to a local news report in Ada, Michigan, where the parent company is based.

By Paul Hughes April 27, 2017 2:57 p.m. share »
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Wanted: Most Community-Minded Companies for New OCBJ List

Is your company about much more than its bottom line? Does it also use its resources to better the Orange County community?

By Paul Hughes April 27, 2017 2:54 p.m. share »
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Banc of California Hires CEO

Santa Ana-based Banc of California Inc. named Douglas Bowers, 59, its new chief executive and president.

By Peter J. Brennan April 27, 2017 2:52 p.m. share »
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UCI Research Effort Gets $9.6M

University of California-Irvine has been awarded up to $9.6 million over seven years to continue studying ways to combat malaria.

By Deirdre Newman April 27, 2017 2:28 p.m. share »
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Franchiser Adds CMO

Home Franchise Concepts LLC in Orange has named Gayle Milling chief marketing officer.

By Paul Hughes April 27, 2017 2:24 p.m. share »
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China Billionaire to Take ChromaDex Stake

ChromaDex Corp. in Irvine said Hong Kong investor Li Ka-shing would buy up to $25 million of its common stock in a private placement.

By Paul Hughes April 27, 2017 11:33 a.m. share »
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Chargers Near Broadcast Deals

The Los Angeles Chargers said they've agreed “in principle” to multi-year television and radio agreements to develop content that includes preseason games, news features, community events and promotions.

By Deirdre Newman April 26, 2017 3:47 p.m. share »
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Windjammer Buys Compliance Firm

Windjammer Capital Investors of Newport Beach bought Memphis-based Vital Records Control in partnership with the latter’s management team on undisclosed terms.

By Peter J. Brennan April 26, 2017 10:31 a.m. share »