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FOR THE RECORD JANUARY 2024
ROANOKE/NEW RIVER VALLEY State regulators approved a rate increase for Appalachian Power that will add about $16 to the monthly bill of an average residential customer. The State Corporation Commission’s authorization will not take effect until the last week of January, meaning that the higher cost of electricity will start to show up in February […]
FOR THE RECORD DECEMBER 2023
CENTRAL VIRGINIA Cedar Fair Entertainment, the parent company of Hanover County theme park Kings Dominion, is merging with Six Flags Entertainment in an all-stock deal valued at $2 billion, the companies announced Nov. 2. Cedar Fair unitholders will own 51.2% and Six Flags shareholders will own approximately 48.8%. The new combined company will have 27 […]
FOR THE RECORD November 2023
Central Virginia Bon Secours announced Sept. 29 it had reached an agreement with Anthem Blue Cross and Blue Shield in Virginia, which the health system sued in August, alleging the insurer owed Bon Secours $93 million in unpaid claims. Although details were not released due to confidentiality agreements between the two parties, Bon Secours said […]
For the Record September 2023
CENTRAL VIRGINIA Richmond-based convenience store giant Arko’s revenue for the second quarter fell 3%, $2.47 billion from last year’s total, despite a 21% jump in total gallons of gasoline and diesel sold and a 12% increase in merchandise sales. According to Arko, its margin on gasoline and diesel — the difference between the price it […]
For the record August 2023
CENTRAL VIRGINIA Buc-ee’s, the Texas-size travel center chain, completed its purchase of 27.686 acres in New Kent County for $6.5 million and will open its first Virginia location in the next two years, with three more slated across the state, S.L. Nusbaum Realty Co. announced June 16. At more than 75,000 square feet, the new Buc-ee’s […]
FOR THE RECORD JULY 2023
CENTRAL VIRGINIA Henrico County-based Altria Group Inc. completed its acquisition of e-vapor maker NJOY Holdings Inc. for approximately $2.75 billion, the tobacco giant announced June 1. NJOY is now a fully owned subsidiary; its new president and CEO is Shannon Leistra, who previously served as senior vice president and consumer experience officer at Altria Client […]
For The Record June 2023
CENTRAL VIRGINIA Henrico County-based Fortune 500 tobacco manufacturer Altria Group Inc. settled at least 6,000 state and federal lawsuits related to its stake in Juul Labs Inc. for $235 million in May. The settlements will be paid in the second quarter of 2023. Altria purchased a 35% stake in e-cigarette company Juul for $12.8 billion […]
May 2023 For the Record
Central Virginia More than 340 union workers went on strike at the AdvanSix Inc. chemical plant in Hopewell on April 6 over contract wage negotiations. The International Chemical Workers Union Council and the United Food and Commercial Workers Union accused the New Jersey-based chemical company of trying to divide union membership by offering pay raises […]
April 2023 For The Record
CENTRAL VIRGINIA Henrico County-based Altria Group Inc. has entered into a definitive agreement to acquire e-vapor maker NJOY Holdings Inc. for approximately $2.75 billion in cash, with a potential additional $500 million in payments, Altria announced March 6. Part of the deal’s funding will come from an expected $1.7 billion payment plus interest from Philip […]
For The Record February 2023
CENTRAL VIRGINIA Atlantic Union Bankshares Corp., the Richmond-based holding company for Atlantic Union Bank, announced Jan. 6 it was transferring the listing of its common stock and depositary shares from the Nasdaq to the New York Stock Exchange. The bank’s first day of trading on the NYSE was set to be Jan. 18. The common […]
January 2023 For the Record
CENTRAL VIRGINIA On Dec. 8, 2022, Arko Corp., a Fortune 500 holding company for Henrico County-based convenience store chain GPM Investments LLC, closed on its acquisition of Pride Convenience Holdings LLC, which operates 30 Pride convenience stores in Massachusetts and one in Connecticut. The $230 million acquisition (plus the value of inventory) brings Arko to […]
For the record December 2022
Central Henrico County-based Altria Group Inc. announced Oct. 27 that it is partnering with Japan Tobacco Group to sell heated tobacco products in the U.S. and worldwide, placing Altria in direct competition with Juul Labs Inc. and Philip Morris International Inc. The $150 million deal will include marketing of heated tobacco products in the United […]
