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Genworth completes $1.8B sale of Canadian unit
Henrico County-based Genworth Financial Inc. has completed the sale of the majority stake in its Canadian mortgage insurance company. The sale of Genworth MI Canada Inc. to Brookfield Business Partners is part of Genworth’s effort to clear the way for its long-delayed takeover by China Oceanwide Holdings Group Co. Ltd. Brookfield paid $48.86 Canadian dollars (CAD) […]
Go Virginia awards $5.8 in regional grants
Nine regional projects will receive a combined $5.8 million in Growth and Opportunity for Virginia (GO Virginia) funding, Gov. Ralph Northam announced Wednesday. The grants, which were approved by the Go Virginia Board and the Virginia Department of Housing and Community Development, will support regional economic development and workforce development initiatives and encourage collaboration among local […][...]
Wegmans distribution center to bring 700 jobs to Hanover
Wegmans Food Markets plans to build a $175 million regional distribution center in Hanover County, creating 700 jobs, Gov. Ralph Northam announced Wednesday. The campus, which will be located along Sliding Hill and Ashcake Roads off Interstate 95 in Ashland, will expand the grocer’s distribution network on the East Coast. Oper[...]
Truist names three Virginia regional bank presidents
Truist Financial Corp., the Charlotte, North Carolina-based mega bank created in December following the merger of BB&T and SunTrust, announced Tuesday it has named 24 regional presidents, three of whom will oversee the Virginia market. “Our ability to leverage our unique community model with its decentralized, regional str[...]
Oral arguments set for Virginia Credit Union, bank dispute
Oral arguments are set for Jan. 6 in a dispute between the Virginia Credit Union and seven small community banks and the Virginia Bankers Association (VBA) over the credit union’s offer to include the Medical Society of Virginia’s 10,000 members. A. Ann Berkebile, a senior hearing examiner at the State Corporation Commission, scheduled oral arguments […]
Canadian company to acquire County Waste of Virginia
West Point-based County Waste of Virginia LLC and its subsidiaries will be acquired by Canadian waste management company GFL Environmental Inc, GFL announced Tuesday. The acquisition is subject to approval under the Hart-Scott-Rodino Act, which requires parties to notify the Federal Trade Commission and Department of Justice of large mergers and acquisitions. The companies will […]
Owens & Minor names new board member
Mechanicsville-based Owens & Minor Inc. has named Michael C. Riordan, a former co-chief executive officer of Prisma Health, to its board of directors. Owens & Minor is a Fortune 500 medical distribution company with 17,000 employees in 90 countries. Riordan, 61, served as chief executive for the Greenville Health System from 2006 to 2016, when […]
Atlantic Union Bank donates building to Bowling Green
Richmond-based Atlantic Union Bank has donated a 480-square-foot building to the Town of Bowling Green, which will use it as the town’s new economic development office, the bank announced Monday. Atlantic Union Bank traces its origins back to the Caroline County Bank, which opened in Bowling Green in 1902 and later became know[...]
Carvana opening $25M center in Chesterfield
Tempe, Arizona-based Carvana Co., an e-commerce platform for buying and selling used cars, will be investing $25 million to establish a vehicle inspection and reconditioning facility that will create an estimated 400 jobs in Chesterfield County, Gov. Ralph Northam announced Thursday. “Carvana is a fast-growing national company, and we are proud that it has chosen […]
PremierXD assets to be sold in online auction
More than 1 million square feet of manufacturing equipment will be auctioned off next week, assets that belonged to New York-based store fixture manufacturer PremierXD, which shut down operations in September. Nearly 200 people in Henrico County were laid off as a result. The auction will be online only, starting at 10 a.m. Tuesday, Dec. […]
Need Supply Co. to host first pop-up showroom in Charlottesville
Richmond-based e-commerce retailer Need Supply Co. will launch a pop-up showroom in Charlottesville for the holidays. The 23-year-old fashion and home goods store is based in Richmond’s Carytown district and has a second shop in Tokyo, but most of its business is conducted online, filling e-commerce orders in the United States[...]
Richmond’s Market Villas apartments sells for $3.9M
Richmond real estate developer Lynx Ventures sold Market Villas, a 31-unit adaptive reuse apartment property, to real estate asset management firm CJehn Partners LLC for more than $3.9 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Wednesday. The property located in downtown Richmond’s historic Shockoe Bottom neighborhood includes first-floor retail space in close […][...]
