How GSF Grows; Dumpling Days; Allergan’s Number?

This week’s special issue puts a focus on the fastest-growing private companies based in OC, with 174 entries spread over three lists, and Irvine-based Golden State Foods the largest of the bunch at $6.6 billion in annual sales (see related stories on page 1; Special Report starting on page 21). The purveyor of meats, condiments and other products notched an 18% gain in sales over the past two years, and it’s growing its HQ space at 18301 Von Karman, too. Word has it that GSF just arranged to take another floor there, adding about 15,000 square feet for an increase of approximately 40% … Not all of the fast growers out there make the list. Consider South Korea-based CJ Foods, which keeps its U.S. headquarters in La Palma and now has capacity for 9,000 tons of dumplings a year, thanks to a newly opened factory in Fullerton, which complements an older one in Paramount. Word from the Korean-language press says the company is poised to sell more of the morsels in the U.S. than it does in its home country now that the Fullerton plant is up and running. The brand racked up sales of $76.7 million in South Korea last year … The Insider went to press with one eye on an interesting trend line in Irvine-based drugmaker Allergan’s fight against a hostile bid by Valeant Pharmaceuticals and hedge funder Bill Ackman. The deal nearly got to the point where the value of Valeant’s bid—which calls for .83 of its shares and $72 in cash for each share of Allergan—was equal to the market cap of its target. The convergence came as trading neared a close last week, with shares of both dropping but Valeant’s falling more. Press time arrived just ahead of the closing bell and saw Valeant’s offer down to about $50.2 billion compared with Allergan’s market cap of $49.9 billion. That put the premium for Allergan shareholders at less than 1% … Freedom Communications also had the Insider up in the air on deadline, when multiple sources buzzed about what they initially called the OC Register parent’s miss on a payment due under terms of severance packages granted as part of cutbacks earlier this year. The company attributed the miss to a glitch in its payroll system and said checks would be cut by the end of the day … Resolved: the California State Senate’s recent recognition of lifelong contribution by Daniel J. Callahan to the legal profession. It came courtesy of Sen. Lou Correa, whose 34th District includes the offices of Callahan & Blaine… Kudos: to Tom Newmeyer and Greg Dillon on the 30th anniversary of Newmeyer & Dillon, which has grown from its humble start in a temporary office in a high-rise garage to become the fourth-largest law firm in OC, based on the Business Journal’s list … Kudos II: to Irvine-based Hyundai Capital America, which is celebrating its 25th year in the U.S. from its perch atop the best-looking office tower in OC … Aboard: Manuel Ramirez CPA as treasurer of the Lincoln Club, a job that lengthens the list of civic volunteer posts for the CEO of Ramirez Jimenez International … Lineup change: Lou Penrose, longtime aide and district chief for retiring Congressman John Campbell, to the executive director’s post for the Apartment Association of OC.