Business

Salix calls off Cosmo merger

October 6, 2014

(WRAL TechWire)

Amid rumors of a potential acquisition by Botox-maker Allergan, Raleigh-based Salix Pharmaceuticals has called off its pending $2.7 billion merger with Italy's Cosmo Pharmaceuticals. The drug developer said a tougher U.S. tax policy on moving companies overseas was the reason.

Western NC breweries honored at national beer festival

October 6, 2014

(Hendersonville Times-News)

Three Western N.C. breweries earned awards at the Great American Beer Festival in Denver, Colo., on Saturday. Black Mountain-based Pisgah Brewing, Morganton-based Fonta Flora Brewery and Asheville-based Wicked Weed Brewing each won gold medals at the world's larger beer competition. Oskar Blues and Sierra Nevada, which have locations in Western N.C., won silver and bronze medals.

Krispy Kreme announces CFO retirement

October 6, 2014

(Winston-Salem Journal)

Douglas Muir, chief financial officer of Winston-Salem-based Krispy Kreme Doughnuts since 2007, will retire in 2015. Muir's retirement is the fifth change within the company's executive management team since February.

Aseptia co-founder departs company

October 6, 2014

(The News & Observer, Raleigh)

Michael Drozd, CEO and co-founder of Aseptia, which operates a plant in Montgomery County as Wright Foods, left the Raleigh-based company in July shortly after it announced the completion of $28 million in financing. The company, ranked No. 15 on Inc. magazine's 2014 list of the nation's fastest growing private companies, uses technology to lengthen the shelf life of food products without the use of preservatives.

BofA names Ellington president of Triad market

October 6, 2014

(Winston-Salem Journal)

Bank of America Corp. named Greenboro-based Derek Ellington president of its Triad market. He replaces Steve Frost, who retired after 20 years with the bank.

14-story office tower coming to Charlotte's South Tryon

October 3, 2014

(The Charlotte Observer)

Trinity Capital announced plans to build a 14-story office tower at Morehead and South Tryon streets in Charlotte. Construction will begin on the project, which will include 300,000 square feet of office space and ground-level retail, once an anchor tenant is signed.

Greensboro's Bell Partners, DRA Advisors sell $1.8 billion apartment portfolio

October 3, 2014

(News & Record, Greensboro)

Greensboro-based Bell Partners and New York-based DRA Advisors sold more than 20,000 apartments to Lone Star Funds for $1.8 billion. The properties were originally part of a joint venture between the two companies. Bell Partners will continue to manage the properties, which are located in 64 communities across the United States.

Mulch supplier to open Mooresville office, create 33 jobs

October 3, 2014

(The Charlotte Observer)

Harvest Garden Pro will open a division headquarters in Mooresville, creating 33 jobs with an average annual salary likely to exceed $70,000. The company, a division of Waltham, Mass.-based Harvest Power Inc., sells mulch and soil to garden centers and home-improvement retailers including Mooresville-based Lowe's.

Robeson County has highest rate of ACA signups

October 3, 2014

(The News & Observer, Raleigh)

A UNC Chapel Hill analysis shows 49.9% of of eligible Robeson County residents enrolled for health insurance under the Affordable Care Act, the highest percentage in the state. The eastern N.C. county has the state's highest poverty rate according to 2013 U.S. Census estimates (cover story, September)

4,000 pigs destroyed in fire at Moore County farm

October 3, 2014

(The Fayetteville Observer)

An overnight fire destroyed a building housing 4,000 pigs at N.G. Purvis Farms in Robbins. Firefighters battled the blaze until about 3:00 a.m. Thursday morning.