AMUSEMENT
Disneyland Resort started building a 6,500-space parking structure valued, according to permits, at $100 million, and part of the park’s $2 billion expansion, which also includes a fourth hotel and Star Wars: Galaxy’s Edge. The contractor is Bomel Construction Inc. in Irvine.
— Paul Hughes
AUTOMOTIVE
Irvine-based automaker Kia Motors America named Michael Cole chief operating officer and executive vice president to replace Michael Sprague, who left the post last month. Cole will be responsible for all U.S. sales, marketing, service and corporate and product planning. He most recently was COO of Kia Motors Europe.
— Subrina Hudson
FINANCE
Costa Mesa-based Blue Gate Bank, which opened early last year, is being sold, according to American Banker.
Big Poppy Holdings of Santa Rosa, Calif., agreed to buy it for an undisclosed price, Poppy Bank Chief Executive Khalid Acheckzai told the magazine. The all-stock deal is expected to close at year-end, he said. The acquisition is part of Poppy Bank’s plan to expand statewide, Acheckzai said.
— Peter Brennan
FRANCHISING
Home Franchise Concepts promoted Faisal Khan to chief information officer, a new position. He’d been vice president of technology at the Irvine-based franchiser of homecare services. HFC franchises—Budget Blinds, Tailored Living, and Concrete Concepts—are marketed to home owners and some corporate clients in window coverings, personal organizing and concrete floor design. It’s been bulking up operations in the past 12 months.
— Paul Hughes
HEALTHCARE
In response to its lagging stock, Allergan Plc will seek buyers for its women’s health and infectious disease units. Chief Executive Brent Saunders confirmed the unanimous board decision in an interview with Reuters. He said the sales would allow the company to focus on medical aesthetics, central nervous system, eye care and gastrointestinal products, and “make Allergan a more exciting company.” The Business Journal reported last month that Saunders told investors on its first-quarter earnings call that the drugmaker was exploring a range of options “including splitting the company.” It stopped well short of that option.
— Pete Weitzner
London-based engineering firm Smiths Group plc said it’s in “very early stage discussions about a potential merger of its medical division with ICU Medical Inc.,” according to a company press release. San Clemente-based ICU is a pure-play infusion therapy company. Smith Medical, the company’s largest unit of UK-based Smiths Group Plc, is focused on infusion systems, vascular access and vital care devices. Revenue at the division fell 4% to $600 million for the first half of the year, due to delays to new product launches. ICU’s posted 1Q sales of $372 million and profit of about $5 million, both beating forecasts.
— Sherry Hsieh
Irvine-based Evolus Inc. appointed Lauren Silvernail as chief financial officer and executive vice president of corporate development. She joined Evolus from Revance Therapeutics, where she was most recently chief financial officer and chief business officer. Evolus focuses on private-pay aesthetics treatments and procedures.
— Sherry Hsieh
HOSPITALITY
Irvine Co. named Scott Hermes resorts division president to succeed Ralph Grippo. He will oversee the Resort at Pelican Hill, Fashion Island Hotel, Hotel Irvine, Oak Creek Golf Club in Irvine, the Tom Fazio courses at Pelican Hill, and California Recreation Co., which runs Irvine Co.’s marinas in OC and Northern California. He was most recently general manager at Westin San Diego.
— Paul Hughes
RESTAURANTS
Irvine-based Yogurtland opened in the Emirate of Sharjah, one of the kingdoms in United Arab Emirates; it has two other locations in UAE. The frozen dessert chain now has 45 of 320 locations overseas, including in the past year Oman, Dubai, Singapore, Myanmar and 19 locations in Thailand.
— Paul Hughes
TRANSPORTATION
Southwest Airlines will add flights on current routes from Long Beach Airport for at least the first two months of a JetBlue Airways pullback from the airport. Southwest flies from six slots at the facility; JetBlue has 34 but will reduce its activity by a third after Sept. 5, either by giving up slots or reducing how often it uses them. Southwest plans to add two weekday flights to Sacramento and three to Las Vegas between Sept. 5 and Oct. 31.
— Paul Hughes
