We will take a short break in our series of blog posts about trademark registration and infringement to cover a development in the deal between medical device companies Medtronic and Covidien.
Beth Israel Deaconess Medical Center's goal of acquiring Jordan Hospital was recently evaluated in an open public hearing in Kingston. Jordan employees who attended the hearing sought promises that the proposed business sale wouldn't lead to firings, but they also expressed their hopes that the proposed merger would improve the budget situation at the smaller local care facility.
Massachusetts residents who are considering selling their businesses may want to look into ways to increase the sale price of their organization. If they have spent years building and growing their businesses, they want to ensure that they receive as much money as possible for their efforts. Even if someone has a successful business, there are ways to make his or her organization more attractive to buyers. Ways to improve a business sale price include making sure finances are in order, having multiple streams of revenue and taking advantage of legal assistance to guide the process.
Massachusetts is among the many states in which Hostess breads and snacks were at one time iconic foods until the company's bankruptcy in 2012. Now, a business sale has been approved by the court that will allow the company to liquidate the last of its major lines of products, bringing the sale price for the company's assets to a total of $860 million. Hostess has sold Drake's, the line that sold snack cakes, to McKee foods for $27.5 million. The company is also selling several bread and cake lines to United States Bakery Inc., Flowers Foods, Grupo Bimbo and other investors also purchased various lines including the famous Twinkie snack food. In each case, the company to which the business line was sold was the highest of several bidders.
Brokerage firm Risk Strategies Company has announced its purchase of Massachusetts-based D&D Insurance. Through this business sale, RSC hopes to increase its coverage in personal lines of insurance and expand its area presence in the market. D&D's founder will join the new company as vice president and is tasked with expanding the firm's lines of personal insurance coverage. All D&D clients will be served from RSC's offices in Randolph and Burlington.
Bella Sera announced the purchase of Lorraine Roy Women's Apparel and portions of its inventory. As part of this business reorganization, Bella Sera plans to keep the name and merge the two stores into a new entity, titling a portion of its Danvers, Massachusetts, store Lorraine Roy at Bella Sera. The merger is scheduled to take place January 1.The two businesses have a seven-year history of working together, beginning when Bella Sera was located on Route 114 in Middleton. Because Bella Sera handles primarily bridal wear and Lorraine Roy handles special occasion dresses, the two stores often referred customers to each other. By combining the two businesses, the stores feel that both will be able to take full advantage of their existing customer base.
Neighboring Connecticut utility regulators have approved the $5 billion acquisition of Boston's NStar by Northeast Utilities. Once approval is garnered from the Massachusetts Public Utilities Regulatory Authority, the merger would create the largest New England utility owner and provider, serving nearly 4 million electric and gas customers in 632 communities.