Long Beach Airport traffic dropped 12% year-over-year in May to 305,300 passengers.
Century City-based Ares Management Corp. was involved in separate deals this week, selling one of the largest veterinary and pet care services organizations in the world and providing $165 million in capital for a joint venture drilling for natural gas and oil in western Texas.
Commerce-based cannabis logistics company ManifestSeven purchased San Diego-based marijuana delivery service to help scale its distribution operation statewide.
Century City-based Stone Canyon Industries Holdings announced June 18 that it sold a $1.8 billion equity stake in the company to a number of pension funds and family offices. Cash from the transaction was used to help pay for the recent purchase of Reddy Ice Holdings Inc., and the remainder will be used for future acquisitions.
Culver City-based cannabis company MedMen Enterprises Inc. has expanded to Florida with the opening of its first retail location in West Palm Beach.
The city of Long Beach on June 11 named a top L.A. Airport executive, Cynthia Guidry, as its new airport director, effective July 29.
Vernon-based clothing company True Religion said consultant Farla Efros has been named interim chief executive officer.
April passenger traffic at Los Angeles International Airport rose by 63,000, or 1 percent, compared to April of last year to reach 7.2 million, according to figures released by the airport’s governing authority on May 29. The figures from Los Angeles World Airports also show that passenger traffic for the first four months of this year rose by 380,000 from the first four months of last year to reach 27.4 million, also an increase of 1 percent.
Culver City-based cannabis retailer MedMen Enterprises Inc. said it was cutting executive salaries as losses in its latest fiscal quarter continued to widen, according to a company statement.
Three senior executives of Culver City-based MedMen Enterprises Inc. have departed in recent weeks amid the backdrop of nearly 100 employees who have left the cannabis retailer since January, according to filings.
An economic impact report released by the Los Angeles Tourism & Convention Board on May 7 found that the 50 million tourists who visited the L.A. region spent $23.9 billion, helping to generated $36.6 billion in total economic impact. Tourist spending was up 5% over last year. Nearly a third of those dollars were spent on hotel and accommodations.
Santa Monica-based Happy Returns Inc., announced April 25 an $11 million investment from PayPal Holdings Inc. that it will use to reach deeper into U.S. markets and expand its return services to international customers.
Investment firm Apollo Global Management will acquire Commerce-based Smart & Final Stores for more than $1.1 billion.
Los Angeles airport officials on April 4 unveiled preliminary plans for two new passenger terminals at Los Angeles International Airport.
In the space of three days at the end of March and early April, four nonstop flights were resumed or added at Los Angeles International Airport, according to announcements from various airlines.