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Shwanika Narayan

Stories by Shwanika

Fat Brands Enters $16 Million Credit Facility

Restaurant franchising company Fat Brands Inc. announced July 5 that it had entered a $16 million senior credit facility to help complete its previously announced acquisition of Hurricane Grill and Wings.

California Launches Statewide Janitorial Registry

Beginning July 1, all janitorial service providers and contractors are required to register with the state of California on an annual basis. Failure to do so will result in fines, the state’s labor commissioner’s office said.

Beyond Meat Increases Manufacturing Operations

El Segundo-based Beyond Meat Inc., producers of plant-based meat substitute products is expanding its manufacturing footprint threefold, the company announced June 29.

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Women-Owned Firms Reach $18.9B

ECONOMY: Top 100 combine for 1.8% sales hike

Women-owned businesses in L. A. County combined for nearly $20 billion in sales in 2017.

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Port Container Facility Moves Forward

Requests for comment kick off EIR review process for $130M cargo project

Port of L.A. takes step towards proposed Harbor Performance Enhancement Center.

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Differential Brands to Acquire Majority Stake in H.K. Competitor for $1.3B

Commerce-based Differential Brands Group announced June 27 that it had agreed to acquire a majority stake in Hong Kong’s Global Brands Group Holding for $1.3 billion. Both companies are designers, developers and licensors of apparel products.

Home Essentials Company Parachute Raises $30 Million

Venice-based Parachute Home Inc., designers and manufacturers of bedding products, raised a $30 million Series C round the company announced June 27.

Cosco Shipping to Put Long Beach Terminal in U.S. Trust

China-based Cosco Shipping Holdings Co. is considering putting a container terminal at the Port of Long Beach in a U.S.-run trust in response to concerns raised by federal regulators regarding the shipping company’s pending ownership of the facility, according to the Wall Street Journal.

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Private Equity Firm OpenGate Sells Paper Company

Century City-based private equity firm OpenGate Capital completed the sale of its portfolio company NorPaper Group to a Lebanese firm, the company announced June 22. Terms of the deal were undisclosed.

Titan Tapped

Walmart adds five L.A. companies to supplier roster

How five local manufacturers got into Walmart.

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Jaanuu Launches Scrubs Collection for Men

Jaanuu Inc., makers of scrubs for medical professionals made a foray into men’s medical clothing by launching two new collections, the company announced June 20.

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SnackNation Acquires EdgiLife

Culver City-based SnackNation which curates healthy snacks delivered to offices and homes announced June 20 the acquisition of EdgiLife Media Inc. and its brand, Love With Food. Terms of the deal were undisclosed.

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Asia Cos. Top L.A. Investment

TRADE: 17 out of 20 largest foreign cos. with L.A. HQs

Asian outfits dominate the Business Journal’s list of foreign companies with U.S. headquarters in L.A. County.

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Henkel Expands Culver City Hair Operation

New hair academy opens as part of German company’s regional headquarters

German beauty brand Henkel opens a new training center in Culver City.

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COLOR CRAZED

eSalon’s new HQ heralds hair product company’s growth

Customized hair color brand eSalon has a new El Segundo HQ.

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Paul Marciano Resigns from Guess Inc.

Following a months-long investigation into sexual misconduct allegations, downtown-based apparel brand Guess Inc. announced the resignation of co-founder Paul Marciano as executive chairman of the board in a Securities and Exchange Commission filing on June 12.

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PolyCera Raises $9 Million Series A

Inglewood-based PolyCera Membranes, makers of industrial wastewater treatment and process separation technology raised a $9 million Series A funding, the company announced June 11.

Fragrance on Fairfax

Entrepreneur embraces natural ingredients, Heretic label

Fragrance entrepreneur at it again.

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Honest Co. Draws $200M Investment

MARKETING: L Catterton backs Alba venture

Playa Vista-based Honest Company Inc. got a $200 million minority investment from private equity firm L Catterton last week.

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OSI Systems Gets $10 Million Contract

Hawthorne-based OSI Systems Inc. announced June 7 that it received a $10 million contract to install its explosive detection system at “a European Union airport.”

Honest Company Receives $200 Million Investment

Playa Vista-based Honest Company Inc. announced June 6 that it received a $200 million minority investment from private equity firm L Catterton.

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Vegan Butterbeer Wanted

Harry Potter fans rally to add vegan option at Universal Studios theme parks

It’s going to take a little more than magic for a group of Harry Potter fans pining for vegan butterbeer on the menu at the Wizarding World of Harry Potter parks at Universal Studios, including the Universal City location.

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Fat Brands to Open More Restaurants in Indonesian Market

Beverly Hills-based Fat Brands Inc. is planning to expand its international footprint by opening at least five of its Fat Burger and Buffalo Express restaurants in Bali and Jakarta, Indonesia, the company announced June 5.

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Forever 21 to Ban Mohair in Clothing

Lincoln Heights-based clothing retailer, Forever 21 Inc., joins a list of companies planning to phase out mohair in their garments by 2020 after a video produced by People for the Ethical Treatment of Animals showed mistreatment of the animals that are the source of mohair – goats.

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Tamara Mellon Brand Inc. Raises $23.6 Million in Funding

Beverly Grove-based shoe company Tamara Mellon Brand Inc. has raised $23.6 million from investors according to a May 30 U.S. Securities and Exchange Commission filing.

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Clearlake Capital Portfolio Company Acquires Amcor Industries

Wheel Pros, a portfolio company of Santa Monica-based private equity firm Clearlake Capital, announced June 4 the acquisition Amcor Industries Inc. of Vernon.

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State Bill Requiring Plastic Microfiber Labeling on Clothing Dies

A proposed state legislation advocating for warning labels on some garments made from synthetic fabrics, which can shed plastic microfibers, is no longer on the assembly floor.

$18.7B for Top Minority Firms

ECONOMY: Largest combine for 6.4% hike in revenue

The 100 largest minority-owned businesses based in Los Angeles County combined for $18.7 billion in revenue in 2017, up 6.4 percent from a year earlier.

Trump’s Move on China Brings Uncertainty

List of goods targeted for tariffs expected from White House on June 15

Latest from Trump administration on China trade injects uncertainty into the local economy.

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SnackNation Raises $12 Million

Culver City-based SnackNation which curates and delivers healthy snacks raised $12 million in a Series B round, the company announced May 30.

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Growth To Go

Kitchen United offers existing restaurants space, help on delivery services

Commercial kitchen intended to help brick-and-mortar restaurants get into the delivery game.

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ICONS 2018: Wolfgang Puck

Founder, Wolfgang Puck Worldwide Inc.

Celebrity chef and restaurateur Wolfgang Puck did not finish high school, but from an early age – 14 to be exact – he knew he wanted to be a chef.

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UCLA Anderson Appoints Interim Dean

Alfred Osborne, associate senior dean of external affairs and a professor at the UCLA Anderson School of Management, has been tapped as the school’s interim dean starting July 1, the school announced on May 22.

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Blizzard Entertainment Signs Hasbro as Master Toy Licensor

Video game publisher Blizzard Entertainment Inc., signed Hasbro Inc. as its master toy licensor for its Overwatch franchise, the company announced May 22.

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Millennials on Chains’ Menus?

RESTAURANTS: Signs point to trend of younger franchisees

It’s no surprise that the Business Journal’s list of the top restaurant chains is again dominated by fast-food and fast-casual restaurants – concepts based on large-scale operations.

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Uncertainty at California-China Business Summit

Conference chance to normalize relations amid Trump’s tough trade talk

Dedicate discussions at California-China Summit.

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Differential Brands Names Borromeo President of Hudson Jeans

Differential Brands Group Inc. has named Maria Borromeo president for its Hudson Jeans brand, the company announced May 16.

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Pelican Products to Host UK Entrepreneur Program in Torrance

Pelican Products, makers of protective cases for a range of products, is sponsoring a pilot program that will bring six UK-based entrepreneurs to the company’s headquarters in Torrance for training this fall.

Ports’ Cargo Numbers Mixed in April

The Port of Long Beach saw a 10.8 percent increase in cargo movement for the month of April compared to the same time last year. Port of L.A. on the other hand, recorded a decline.

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Bill Spooks Apparel Cos.

Calls for warning label on synthetic clothing

Legislation to require warning labels on garments made of synthetic fabric draws ire of apparel makers.

Beyond Meat Plans Global Distribution

Beyond Meat, makers of plant-based meat substitute products, announced its plan to enter the global market beginning this summer.

Tourists Injected $22.7 Billion in Local L.A. Economy Last Year

Tourists visiting Los Angeles County pumped a record-setting $22.7 billion into the local economy last year, the L.A. Tourism and Convention Board announced on May 7.

Southern California Warehouses May Have to Regulate Trucking Pollution

The South Coast Air Quality Management District moved a step closer in regulating pollution stemming from trucks by focusing on a different sector of the cargo movement supply chain: warehouses.

L.A. Region’s $431B in Trade Worth Celebrating

Organizations to host trade-related events throughout month

The business community in L.A. County, which set the pace on World Trade Week nearly 100 years ago, is getting set for the latest annual celebration.

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Chicken of the Sea Moves to El Segundo

FOOD PROCESSING: Relocates 150 employees; partners with aquarium on education

Chicken of the Sea International, providers of canned seafood products, moved its North American headquarters to El Segundo from San Diego, the company announced last week.

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Act 1 Group Named One of Fastest Growing Women-Owned Businesses

An L.A.-based company was included on a list of 50 fastest-growing, women-owned business, as ranked by the non-profit Women Presidents’ Organization.

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Chicken of the Sea Moves North American HQ to El Segundo

Chicken of the Sea International, providers of canned seafood products, moved its North American headquarters from San Diego to El Segundo, the company announced May 2.

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Saban Brands to Sell Power Rangers to Hasbro for $522M

Century City-based Saban Brands, creators of the live-action Power Rangers children’s show, agreed to sell the brand to Hasbro Inc. for $522 million, the companies announced May 1.

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Platinum Equity Portfolio Company Merges with Competitor

Combined company worth estimated $1.5B

Beverly Hills-based Platinum Equity’s portfolio company, Interior Logic Group, announced its merger with competitor Interior Specialist Inc. on May 1. Terms of the deal were undisclosed.

Troubling Trend For Mattel Amid Its Latest C-Suite Shakeup?

MANUFACTURING: Former YouTube studio exec Kreiz follows Google vet

Mattel Inc.’s fourth chief executive in four years officially took the helm of the company last Thursday.