Business

Morrisville clinical research firm acquires Hong Kong's Choice Pharma

March 12, 2014

(The News & Observer, Raleigh)

Clinipace Worldwide, a contract-research organization that has its headquarters in Morrisville, has acquired Hong Kong-based Choice Pharma, expanding its global workforce to 640 workers in 30 countries. Financial terms were not disclosed.

Prospect Brands to move headquarters to Greensboro

March 12, 2014

(The News & Record, Greensboro)

Stoneville-based Prospect Brands, parent company of Gerbing and Duck Head, is moving its headquarters to Greensboro despite declining a $150,000 incentive offer from the city in January. The company plans to re-launch the Duck Head brand, which had been exclusive to Goody's retail stores until that company declared bankruptcy in 2009, later this year.

Burlington outlet center to be auctioned

March 12, 2014

(The News & Record, Greensboro)

Burlington Outlet Village, a 24-acre site that struggled financially since Tanger Outlets opened a shopping center in Mebane, is in foreclosure and will be auctioned off on March 20.

Charlotte-based Chiquita to merge with Irish fruit company

March 11, 2014

(The Charlotte Observer)

Chiquita Brands International will merge with Fyffes, an Irish produce company. The new company will be called ChiquitaFyffes and will be based in Dublin. Ed Lonergan, chief executive of Chiquita, said the deal should not have a major impact on the company's employment in Charlotte.

Proposed development would bring 2,200 residential units to Pender County

March 11, 2014

(Greater Wilmington Business Journal)

Wilmington-based Trask Land Co. is planning a 1,300-acre community in Pender County that would add 2,200 residential units over ten years. If the county approves plans for the Blake Farm development, the company hopes to begin infrastructure site work in the fourth quarter of this year.

Quintiles' Gillings, other investors plan $939 million stock offering

March 11, 2014

(The News & Observer, Raleigh)

According to a filing with the Securities and Exchange Commission, a group of shareholders that includes the co-founder and chairman of Quintiles Transnational plan to sell 17.25 million shares of the company's stock in a public offering. Quintiles is a contract-research organization that employs 2,600 in the Triangle and more than 28,000 worldwide.

Pittsboro wants more specific details on Chatham Park proposal

March 11, 2014

(The News & Observer, Raleigh)

The Pittsboro Board of Commissioners has asked the developer of the proposed Chatham Park community for more details on the project and will appoint a citizen review committee to guide its progress. The board's decisions are based on recommendations from an outside firm it hired to review the master plan for the massive development that could bring 60,000 people to the area.

Motley Fool says merger of tobacco companies makes sense

March 11, 2014

(The News & Record, Greensboro)

Online investment site The Motley Fool says a merger between Winston-Salem-based Reynolds American and Greensboro-based Lorillard would protect Lorillard as federal scrutiny of menthol cigarettes, which account for about 80% of Lorillard's sales, increases. A merger also would give Reynolds short-term growth and improve its market share in electronic cigarettes.

Boat builder to open Brunswick County plant

March 11, 2014

(Greater Wilmington Business Journal)

The 33rd Strike Group, which will assemble catamarans from components shipped from Taiwan, will open in a 35,000-square-foot space and create 50 jobs over the next several years. The company will begin operations May 1.

NJ-based Quest completes acquisition of Greensboro's Solstas Lab Partners

March 11, 2014

(The Winston-Salem Journal)

Madison, N.J.-based Quest Diagnostics has completed its $570 million acquisition of Greenboro-based Solstas Lab Partners. Solstas employs about 850 people in the Triad; it is still unknown how many jobs may be eliminated due to the merger.