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Richmond’s Universal Corp. to acquire Pennsylvania flavoring company
Richmond-based agriculture products supplier Universal Corp. has entered into an agreement to acquire specialty ingredient, flavoring and food company Shank’s Extracts Inc., it announced Tuesday. Founded in 1899, Shank’s is a privately-held company specializing in vanilla extract products. The company, which has more than 200 workers, manufactures more than 2,400 extracts, distillates, natural flavors and […][...]
Richmond’s Style Weekly shuts down after nearly 39 years
After close to 39 years, the Richmond-based alternative weekly newspaper Style Weekly will shut down this week, Editor-in-Chief Brent Baldwin posted on Style’s Facebook page Tuesday. The publication’s closing came three years after Norfolk-based Landmark Communications Inc. sold its Virginia newspapers — The Virgin[...]
Caravati’s building in Richmond sells for $2.03M
The former Caravati’s Inc. building in Richmond sold for $2.03 million, Colliers International in Virginia announced Sept. 2. Located at 104 E. Second St. in the Manchester area, the two-story building has 38,000 square feet. The buyer, 104 E. Second St. LLC, plans to develop the building into 42 apartment units. Construction [...]
Manassas direct mail company to cut ribbon on new headquarters
Prince William County and direct mail production company Planet Direct Mail will hold a ribbon-cutting ceremony Wednesday afternoon Planet Direct’s new headquarters in Manassas. The county announced the company’s expansion into its new 115,000-square-foot headquarters, located at 11050 Challenger Court in Innovation Park, on Aug. 25. The expansion retained 130 jobs and is estimated to […][...]
Alexandria firm secures $164M Air Force contract
Alexandria-based national security contractor DCS Corp. has won a $164 million contract to support the U.S. Air Force Life Cycle Management Center’s Fighters and Advanced Aircraft Directorate (AFLCMC/WA) and Bombers Directorate (AFLCMC/WB). “DCS is proud to support the United States Air Force global power through this significant award,” said Larry Egbert, DCS executive vice president […][...]
Nonprofit news site launches to cover SW and Southern Virginia
Cardinal Press, a new nonprofit digital news service covering Southwest and Southern Virginia, will begin publishing stories in late September, with Dwayne Yancey, former editorial page editor for The Roanoke Times, at the helm as its founding editor. Nonprofit organization Cardinal Productions, incorporated in June, created Car[...]
GTT Communications to file for Chapter 11 bankruptcy
McLean-based telecommunications company GTT Communications Inc. is planning to file a prepackaged chapter 11 case after it closes the previously announced sale of its infrastructure division to Miami-based I Squared Capital, it announced Thursday. After the completion of the $2.15 billion sale, GTT and some subsidiaries will file their cases in the U.S. Bankruptcy Court […]
FTC fines Capital One CEO for failing to file stock transaction
The Federal Trade Commission fined McLean-based Capital One Financial Corp. CEO Richard Fairbank a $637,950 civil penalty for violating antitrust laws in finalizing stock acquisitions, the FTC announced Thursday. The settlement must be approved by the U.S. District Court for the District of Columbia. The FTC alleged that Fairban[...]
Amazon has hired 3,000+ HQ2 workers so far
So far, Amazon.com Inc. has hired more than 3,000 of the 25,000 employees it plans to recruit by 2030 for its multibillion-dollar HQ2 East Coast headquarters in Arlington, the global online retailer announced Wednesday. In 2019, the Virginia General Assembly passed an incentive package that would pay Amazon up to $550 million in[...]
Apartment buildings in Forest sell for $6.6M
Jefferson Ridge Apartments in Forest sold for $6.6 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group and Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group announced Tuesday. The sale finalized last week. Built in 1995, the 68-unit, 8-building apartment campus is located at 143 Jefferson Rid[...]
Three Lynchburg apartment buildings sell for $8.2M
Three apartment buildings within the Cornerstone community in Lynchburg sold for $8.2 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Monday. The buildings, located at 301 Rotunda St., 121 Colonnade St. and 101 Colonnade St. were built in 2012. They contain a total of 68 apartment units — 46 tw[...]
Historic Roanoke building sells for $9.5M
The Elmwood Building in Roanoke sold for $9.5 million, Hall Associates Inc. and buyer Freedom First Credit Union announced Tuesday. Located at 207 Bullitt Ave. SE in Roanoke’s Downtown Historic District, the 4-story, 46,500-square-foot building was built in 1919 and has housed a hardware store, furniture warehouse and Meridium[...]
