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Ben & Jerry’s alleges parent company Unilever removed its CEO over social activism
Ben & Jerry’s says its CEO was unlawfully removed by its parent company, Unilever, in retaliation for the ice cream maker’s social and political activism. In a federal court filing late Tuesday, Ben & Jerry’s said Unilever informed its board on March 3 that it was removing and replacing Ben & Jerry’s CEO David Stever. Ben […]
Speyside Bourbon Cooperage in Smyth lays off 75 workers
Speyside Bourbon Cooperage in Atkins will lay off 75 employees at the end of April due to slowdowns in the bourbon industry, according to a Worker Adjustment and Retraining Notification (WARN) letter dated Feb. 28. Speyside plans to end second-shift production and third-shift maintenance at the Smyth County facility. Laid-off workers may be recalled “as […]
Blackstone completes Jersey Mike’s Subs acquisition
A spokesperson for Manasquan, New Jersey-based sandwich chain Jersey Mike’s Subs told NJBIZ that Blackstone completed its acquisition of a majority stake in the company Jan. 16. They added the terms of the deal remain unchanged from the private equity behemoth’s November 2024 announcement. Blackstone did not immediately respond to a request for more information. […]
Sauer Brands acquired by Boston firm; new CEO named
A Boston private equity company completed its purchase of Richmond-based Sauer Brands, which produces Duke’s Mayo, Sauer spices and other food products, the companies announced Wednesday. With the change in ownership comes a new CEO for Sauer. E. Yuri Hermida, most recently executive vice president and chief growth and strategy officer for alcoholic beverage company […]
UR students launch food startup — for school credit and profit
Lindsay Batten never thought she’d become a CEO before leaving college, but the University of Richmond senior is beginning her final semester as head of a brand-new startup. The company — which will produce a newly conceived pesto Caesar salad dressing called Envee — is the result of a marketing class focused on entrepreneurship, Bench […]
2025 Virginia Black Business Leaders Awards: Benita Thompson-Byas
Thompson-Byas joined the company started by her brother Warren Thompson right at its launch in 1992. Over the past three decades, Thompson Hospitality has grown from a group of 31 Big Boy restaurants to become the nation’s largest minority-owned hospitality business. Thompson-Byas is in charge of the company’s partnership with Compass Group, including more than […]
Smithfield Foods raises $522M in first day on Nasdaq
Smithfield Foods officials rang the opening bell Tuesday at the Nasdaq MarketSite in New York City, as the packaged meat and fresh pork giant launched its initial public offering of 26 million stock shares at $20 per share on the Nasdaq Global Select Market, raising $522 million. The offering consists of 13,043,479 shares of common […]
Boston private equity firm to acquire Sauer Brands
Duke’s Mayo and its parent company, Richmond’s Sauer Brands, will change hands in a deal between Boston-based private equity firm Advent International and North Carolina’s Falfurrias Capital Partners, which purchased Sauer a little over five years ago. Terms of the pending acquisition, which was announced Monday, were not disclosed. Sauer, a family-owned company for more [&hellip[...]
Smithfield Foods files for IPO
Virginia’s Smithfield Foods announced Monday it has filed a registration statement to the U.S. Securities and Exchange Commission for its initial public offering. This is the first step toward the pork and packaged meats giant’s plan of selling common stock on the Nasdaq Global Select Market under the ticker symbol SFD. In November 2024, Smithfield’s […]
Greensville ‘bouncing back’ after Boar’s Head plant closure
Nearly three months after Boar’s Head shut down its Jarratt plant, North Carolina-based Carolina Structural Systems announced Nov. 25 that it would spend $5.5 million to build a manufacturing site for custom trusses and similar products in Greensville County, adding 58 jobs. The county’s economic development director, Natalie Slate, calls the announcement a good start […]
Smithfield to form new hog production company ahead of IPO
Smithfield Foods has inked a deal with VisionAg, an affiliate of North Carolina’s HD3 Farms, to start a new hog production business early next year as the meat producer gears up to go public, the company announced Friday. Smithfield, a giant in packaged meats and pork products, will provide 28,000 sows to the new company, […]
Smithfield Foods to pay $2M to settle child labor claims
A subsidiary of Virginia-based Smithfield Foods has agreed to pay $2 million to settle allegations it hired children to work at a meat packaging plant in Minnesota. According to the Minnesota Department of Labor and Industry, Smithfield’s operation in Minnesota allegedly employed at least 11 children between the ages of 14 and 17 during the […]
