Apparel
OC brands won in nine out of 13 categories at the Aliso Viejo-based Surf Industry Manufacturers Association’s 12th annual Image Awards Thursday at the City National Grove of Anaheim. Winners were: Women’s Marketing Campaign: “My Bikini” by Rip Curl in Costa Mesa; Men’s Marketing Campaign: “Volume 7: Rocketship to Reykjavik” by Roark Revival in Laguna Beach; Accessory Product: Socks by Stance Inc. in San Clemente; Footwear Product: Surf Siders by Vans Inc. in Cypress; Men’s Boardshort: Mod-Tech by Volcom; Women’s Swim Brand: Beach Riot in Costa Mesa; Women’s Apparel Brand: Volcom; Men’s Apparel Brand: Vans; Breakout Brand: Vissla in Aliso Viejo; Wetsuit and Environmental Product: Yulex Nexkin Wetsuit by Patagonia Inc. in Ventura; Hardgoods Accessory Product: FCSII Essential Series Fin Collection by FCS in San Diego; Surfboard: The Average Joe by Channel Islands Surfboards in Santa Barbara.
Finance
Pacific Investment Management Co. tapped former London-based Morgan Stanley chief economist Joachim Fels as a managing director and global economic adviser. He will work at Pimco’s Newport Beach headquarters. Fels held various roles in 19 years at Morgan Stanley and worked for Goldman Sachs as an executive director and international economist.
Healthcare
Actavis PLC will cut more jobs in Corona in Riverside County as it awaits finalization of its buy of Irvine-based Allergan Inc., according to a state filing. Actavis cut 200 jobs in January following a 48-job layoff in October, and it will cut 40 in April, a filing with the state Employment Development Department shows. Actavis spokesman David Belian declined comment when asked whether any future cuts will come at Allergan’s OC campus. Allergan previously said it would cut 1,500 jobs as part of a restructuring. It laid off 129 Irvine workers in October (see related item in the Insider, page 3).
Hospitality
Three Orange County resorts earned Five Star rankings in the Forbes Travel Guide. Montage Laguna Beach, the Resort at Pelican Hill in Newport Coast, and the St Regis Monarch Beach in Dana Point were part of the group’s 2015 list. Montage also got five stars for its Spa Montage and Studio restaurant, making it one of only seven properties on the list to be “triple five-star rated.” The Spa at Pelican Hill and Spa Gaucin at the St. Regis also earned five stars.
Restaurants
Lake Forest-based Del Taco LLC may be bought by Chicago-based Levy Acquisition Corp., according to Reuters, which cited unnamed sources that said the Mexican-style fast food chain could sell for as much as $500 million, including debt. Del Taco is owned by several private equity firms including Goldman Sachs Mezzanine Partners, Charlesbank Capital Partners and Leonard Green & Partners LP and has about 550 restaurants in 16 states with $622 million in annual sales. The news agency described the possible buyer as the “acquisition vehicle of Chicago restaurateur Larry Levy.” The blank check company raised $150 million for restaurant and hospitality-related acquisitions in a 2013 initial public offering.
Aliso Viejo-based Chronic Tacos Enterprises Inc. signed multiunit franchise deals for 12 locations in Colorado, three to 12 locations in Washington, and up to 14 in Arizona. Locations already in development include six in California—one in Costa Mesa—and three North Carolina locations. The fast casual Mexican-style chain currently has 24 in California, 12 of them in Orange County, according to its website. It said it wants to add 10 this year, 20 in 2016, and to hit 100 restaurants by 2018.
Technology
Irvine-based business software maker Kofax Ltd. said it will delist its shares on the London Stock Exchange late next month. Directors recently approved the measure. It expects to save at least $750,000 annually with the move, which was expected because more than 75% of its common shares are held by U.S. shareholders, board members and investors, and most of its trading volume is on the Nasdaq Global Select market.
