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Chesapeake

Dollar Tree retail store
Mar 26, 2025

Dollar Tree plans to sell Family Dollar to private equity firms for $1B

Chesapeake-based Fortune 500 discount retailer Dollar Tree has reached a deal with Brigade Capital Management, a New York-based global asset management firm, and Macellum Capital Management, an investment firm with headquarters also in New York, to acquire its Family Dollar brand for about $1 billion after a decade of trying to make its acquisition of […]

Mar 25, 2025

Construction of Virginia’s tallest building slated for April

LS GreenLink USA will begin constructing the tallest structure in Virginia next month. During Old Dominion University’s Maritime and Offshore Wind Conference on Tuesday, LS GreenLink USA’s managing director, Patrick Shim, revealed the company will break ground April 28 on its $680 million-plus offshore wind subsea cable manufacturing facility in Chesapeake, the first of its […]

Dollar Tree retail store
Mar 5, 2025

Former Tyson Foods executive to become Dollar Tree CFO

Chesapeake-based Fortune 500 discount retailer Dollar Tree announced Wednesday that former Tyson Foods executive Stewart Glendinning will become the company’s next chief financial officer, effective March 30. Glendinning joined the company earlier this year in a senior role focused on transformation initiatives, including key areas within the company’s finance organization. He is succe[...]

Mar 3, 2025

Real estate company names president of New Homes Division

Chesapeake-based Berkshire Hathaway HomeServices RW Towne Realty announced Tuesday that it has promoted Dianne Gordonn to president of its New Homes Division. Gordonn has about two decades of experience in the real estate industry. According to her LinkedIn account, she has served nearly two years as chief operating officer of the new homes division and […]

Jan 15, 2025

Japanese manufacturer set to close Chesapeake plant

Nitto, a Japanese developer of technology and manufacturer of products for automotive, aerospace and other industries, plans to close its Chesapeake plant by September, laying off 86 workers. The company notified the state of the closure Jan. 8 in compliance with the Worker Adjustment and Retraining Notification Act. The Nitto plant is at 809 Principal […]

Dec 5, 2024

Dollar Tree CFO stepping down

Dollar Tree Chief Financial Officer Jeff Davis is leaving the Chesapeake discount retailer after two years, the company announced Wednesday. Davis will stay through the filing of the company’s fiscal 2024 report to the Securities and Exchange Commission, Dollar Tree said. “We thank Jeff for his service and appreciate the contributions he made to the […]

Photo of a bottle of Tito's Handmade Vodka
Nov 22, 2024

Virginians go for Texan vodka

Virginia is for lovers of vodka distilled from corn in Austin, Texas, apparently.  For the seventh straight year, Tito’s Handmade Vodka is Virginia’s most popular spirit at Virginia Alcoholic Beverage Control Authority (ABC) stores, according to a Friday announcement. The spirit generated $75 million in sales at Virginia ABC stores in fiscal year 2024. That’s […]

Nov 4, 2024

Dollar Tree CEO Dreiling steps down, citing health

Rick Dreiling stepped down Sunday as CEO and board chairman of Chesapeake-based Dollar Tree, effective immediately, the Fortune 500 discount retailer announced Monday. Michael C. Creedon Jr., Dollar Tree’s chief operating officer since 2022, was named interim CEO. He previously held executive positions at Advance Auto Parts. Edward “Ned” Kelly III, the board’s lead independ[...]

An aerial view of land that includes a blue water tower
Aug 9, 2024

Va. localities win $126M in grants for industrial sites

Gov. Glenn Youngkin this week announced $126 million in Virginia Business Ready Sites Program development grants to fund work on 23 industrial sites in the commonwealth. Virginia’s growing inventory of project-ready sites was a factor in CNBC naming the commonwealth America’s Top State for Business in July, Gov. Youngkin noted in a Thursday news release. […]

Jul 30, 2024

Big deals

These economic development announcements were some of the largest in Virginia for 2023 and the first half of 2024: CENTRAL VIRGINIA Chesterfield County: In April, the offices of U.S. Sens. Tim Kaine and Mark Warner and U.S. Rep. Jennifer McClellan announced that Danish electrolyzer manufacturer Topsoe plans to build a $400 million manufacturing facility with […]

Jul 30, 2024

Top Five August 2024

The five most popular daily news stories on VirginiaBusiness.com from June 12 to July 12 included news of Republican Gov. Glenn Youngkin’s appointees now holding a majority on the governing boards of Virginia’s state colleges and universities. 1   |   Youngkin peppers university boards with GOP power players New members included some conservative movers […]

Rendering of the LS GreenLink subsea cable production facility in Chesapeake. Image courtesy LS Cable
Jul 9, 2024

$681M subsea cable plant coming to Chesapeake

A U.S. subsidiary of a South Korean cable manufacturer plans to build a $681 million subsea cable manufacturing plant in Chesapeake, the company announced Tuesday. The project is expected to create 338 jobs. LS GreenLink USA’s Chesapeake subsea cable factory will be built at the Deep Water Terminal Site in Chesapeake, a 96-acre property located […]

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