TOURISM & LEISURE
Ares Management Invests in Wine Club and Restaurant Group Cooper’s Hawk
Century City-based private equity firm Ares Management Corp. has invested in Cooper’s Hawk Winery & Restaurants of Illinois, a top wine club and restaurant group, taking over a minority position.
Beverly Hills PE Firm Regent Buys French Cycling Company Mavic
Beverly Hills-based private equity firm Regent has purchased French cycling company Mavic from Amer Sports, a Finnish-based headquartered sporting goods company.
LAX Passenger Traffic Up 0.9% in May, International Traffic Down
May passenger traffic rose at almost 1% year over year to 7.6 million, but international passenger traffic fell slightly, and air cargo tonnage was down significantly.
UFCW authorizes strike at Ralphs, Albertsons, Vons
The union representing grocery workers from Ralphs, Vons, Albertsons and Pavilions has approved a strike as negotiations have soured.
Ares Management Sells Pet Care Firm, Funds Energy Venture
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.
ManifestSeven Purchases Cannabis Delivery Service
Commerce-based cannabis logistics company ManifestSeven purchased San Diego-based marijuana delivery service to help scale its distribution operation statewide.
Stone Canyon Industries Holdings Sells $1.8B Stake in Firm
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.
MedMen Expands to Florida with First Retail Store
Culver City-based cannabis company MedMen Enterprises Inc. has expanded to Florida with the opening of its first retail location in West Palm Beach.
Long Beach Names Cynthia Guidry Airport Chief
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.
True Religion Taps Apparel Consultant as Interim CEO
Vernon-based clothing company True Religion said consultant Farla Efros has been named interim chief executive officer.
LAX Passenger Traffic Up 1 Percent in April
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.
MedMen Trims CEO, President Salaries as Losses Widen in 2019 3Q
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.
Senior Execs Exit MedMen, Former CFO Files Wrongful Termination Suit
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.
Tourist-Driven Revenue in LA County Increased 4.9% to $36.6B
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.
Happy Returns Raises $11 Million Led by PayPal
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.
