SAN FERNANDO VALLEY
Stepping Up: Cherokee Global Brands, a Sherman Oaks brand marketing firm, acquired Irvine’s Flip Flop Shops, a retail chain focused on sandals and other footwear. Cherokee plans to expand the business of the retailer, which has 90 stores worldwide, through e-commerce. Financial terms of the deal were not disclosed.
Muscling In: Paramount Fitness, a Commerce maker of home and commercial exercise equipment, has been acquired by True Fitness, an O’Fallon, Mo., maker of gym equipment. True Fitness said that Paramount’s headquarters would be shuttered and all staff would be laid off. Financial terms of the deal were not disclosed.
Multifamily Deal: Trimas Investment Real Estate sold a Los Feliz apartment building for $2.9 million to ARC Manager 1. The 9,600-square-foot multifamily property, at 3209 Descanso Drive, has 16 units and was built in 1928.
DOWNTOWN LOS ANGELES
Website Clicks: Downtown L.A.-based Hello Giggles, a news website aimed at women aged 18 to 34, was acquired by New York magazine publisher Time Inc., with which the website had an advertising partnership. Hello Giggles was co-founded in 2011 by actress Zooey Deschanel and reportedly receives 11 million unique visitors a month. Financial terms of the deal were not disclosed.
Fuller Plate: Beyond Meat, a fake-meat manufacturer in El Segundo, raised a $17 million Series E round, according to a filing with the Securities and Exchange Commission. The firm, which engineers and manufactures faux-chicken and beef products from plant proteins, has previously received backing from prominent tech investors such as Menlo Park’s Kleiner Perkins Caufield & Byers and Microsoft Corp. co-founder Bill Gates.
Funding Boost: Apollo Medical Holdings Inc., a Glendale health management company, received a $10 million equity investment from Alhambra’s Network Medical Management Inc. Apollo used some of the money to pay back $7.3 million to a lender. Apollo issued 1.1 million shares of preferred stock to Network Medical Management at $9 a share with the option to purchase an additional 1.1 million shares at the same price.
Plugged In: Pasadena’s 17 Hats has raised $4 million in an equity round led by Santa Monica’s Wavemaker Partners. The software firm’s product helps solo entrepreneurs run their business.
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