Allied Logistics buys facilities in Ohio
HUNTINGTON -- Allied Logistics, a Huntington-based warehousing and logistics company, has announced that one of its affiliated companies, Hopewell Management, LLC, has joined with Industrial Real Estate Group and Gilco International to purchase the former Masco facilities in Waverly, Ohio.
The 228-acre, 11-building, 2.5-million-square-foot complex was used by Masco to manufacture cabinets until it closed in June 2011, eliminating 1,400 jobs.
"We are extremely pleased to partner with a successful, qualified and knowledgeable partner like IRG," Allied Logistics Chairman and CEO Lake Polan said in a press release. "There are a number of synergies and opportunities between our two organizations."
The Masco complex features an on-site electrical substation, rail access to both CSX and Norfolk Southern railroads, more than 500 trailer spaces, 175 docks with 21 drive-ins and more than 30,000 spare feet of office space.
Allied Logistics will lease 150,000 square feet to establish a warehousing and logistics operation. Currently the company is working to locate businesses that can utilize space in the central Ohio market. They are also working with IRG and local economic development officials to market the space to third-party logistics providers and to manufacturers and distributors in the region who prefer to outsource their logistics rather than lease warehousing to operate themselves.
Allied Logistics plans to have an operation in place by the second quarter of 2013.
Hostess set to announce bidder for Twinkies
NEW YORK -- The indestructible Twinkie appears to be one step closer to a comeback.
Hostess Brands is close to announcing that it has picked two investment firms -- C. Dean Metropoulos & Co. and Apollo Global Management -- as the lead bidders for its Twinkies and other snack cakes, according to a source close to the situation who was not authorized to comment publicly on the talks.
Amazon.com posts lower 4Q net income
NEW YORK -- Amazon.com says its fourth-quarter net income fell 45 percent, as higher revenue failed to keep pace with increased spending on order fulfillment and digital content.
Revenue, along with revenue guidance for the current quarter, missed Wall Street's expectations -- but investors still sent the world's top online retailer's stock up more than 10 percent in after-hours trading.
Bob Evans set to sell Mimi's Cafe for $50M
NEW YORK -- Bob Evans Farms Inc., based in Columbus, Ohio, said Tuesday that it agreed to sell its Mimi's Cafe restaurant chain to LeDuff America Inc. for $50 million.
Mimi's Cafe is a French-inspired casual dining restaurant with 145 locations in 24 states, primarily in the West and Southwest. Bob Evans Farmsoperates about 565 Bob Evans family restaurants in 19 states, mainly in the Midwest, mid-Atlantic and Southeast. The company also produces and sells pork sausage and other products under the Bob Evans and Owens brand names.
LeDuff America, based in Dallas, owns cafes and related manufacturing in North America. Its cafes include La Madeleine Country French Cafe, Brioche Doree, Bruegger's Bagels, Timothy's Coffee and Michel's Baguette.
LeDuff is a unit of Groupe LeDuff SA, which is based in France.