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Tag: acquisition

PAM Health acquires 16 specialty hospitals from Curahealth 

Enola-based health care services company PAM Health, formerly Post Acute Medical, acquired 16 specialty hospitals from Curahealth and Nautic Partners. 

PAM Health operates 60 long-term, acute-care hospitals and inpatient medical rehabilitation hospitals across 17 states. The new acquisition adds eight long-term, acute-care hospitals and eight inpatient rehabilitation hospitals to the company’s portfolio. 

The hospitals are in Arizona, Texas, Colorado, Indiana, Florida, Oklahoma, Louisiana, Tennessee and Pennsylvania. They are expected to provide growth and strategic opportunities, according to the company, which said it will continue to employ many key staff members from the Curahealth organization. 

“We look forward to adding these hospitals to our existing network of specialty hospitals,” says Anthony Misitano, chairman and CEO of PAM Health. “Several of the hospitals are in new markets for us, which allows us to expand the PAM Health network of care into new regions to better serve patients and families in those areas. We are confident they will provide strong opportunities for future growth, as we respond to each community’s need for healthcare services – a need that is increasing in the current healthcare environment.” 

PAM Health intends to rename the hospitals under the company’s new branding. 

Karns acquires Duncannon-based grocery store 

Scott Karns. PHOTO/PROVIDED

Karns Quality Foods in Mechanicsburg has acquired a Duncannon-based independent community grocery store, giving Karns its second store in Perry County. 

The grocery chain said it acquired Mutzabaugh’s Family Market, a grocer that has operated in Duncannon since 1920. 

The market will officially be renamed under the Karns Foods branding on Dec. 6, 2021, with renovations planned for some time next year, said Andrea Karns, vice president of sales and marketing at Karns. 

“We have exciting, brand-worthy renovation plans for this store, but we don’t want to disrupt shoppers during the holiday season—so construction will begin in 2022,” said Karns. “Renovations will include an updated produce section, enhancements to the meat and seafood departments to include an 80-foot full-service case, updates to the bakery, additions to the fresh deli counter, a new front-end system, and a décor refresh.” 

Mutzabaugh’s Family Market is Karns 10th grocery store. Karns operates stores in Cumberland, Dauphin, York and Perry counties. 

The acquisition was a good fit for Karns, seeing as the two grocers share common values of hard work, supporting local business and giving back through local nonprofits, said Scott Karns, president and CEO of Karns. 

“Mutzabaugh’s has been a community treasure, and we are thrilled to carry on their tradition with Karns’ enhancements,” he said. “Expanding our family roots and welcoming our neighbors in the Duncannon community is what Karns Foods is all about, and we can’t wait to serve and meet new friends.” 

Garden Spot Frame acquired by Texas firm 

Garden Spot Frame & Alignment, headquartered in Denver, Pa., was acquired by Irving, Texas-based FleetPride Inc. 

Founded in 1978, Garden Spot Frame & Alignment offers shop services to heavy duty fleets and operators in southern Pennsylvania, including repairs for trucks and trailers, alignment and framework, roadside and on-site service, mobile spindle repairs, and a full suite of towing and recovery services, according to a release. 

It also has branches in East Earl, Lancaster and Leola. All four Garden Spot locations will become FleetPride Service Centers, bringing the company’s total to 59. 

FleetPride, Inc. is an independent aftermarket heavy duty distributor. 

Combined with the company’s existing branches in Harrisburg, Carlisle and York, “customers between Harrisburg and Philadelphia will have a full network of parts and service options ready to serve their needs, with additional support from FleetPride.com e-commerce,” the release said. 

“On behalf of our entire company, we are happy to welcome the Garden Spot Frame & Alignment team to FleetPride,” Mike Harris, FleetPride senior vice president of sales and operations, added. 

“Barry Simpson, Derek Snyder, Andrew McComsey and everyone at Garden Spot have done a fantastic job serving customers and building their reputation over the past 43 years. We look forward to continuing their tradition of customer service excellence, supporting their first-rate organization, and expanding the solutions, parts and services available to their customers through FleetPride’s experience and scale.” 

Utz poised to acquire California snack foods company 

Utz Brands announced on Tuesday that it entered a definitive agreement with RW Garcia Holdings to acquire the equity and certain real estate assets of the company for $56 million.  

The Hanover-based salty snacks company’s newest acquisition expands its footprint in the tortilla chips, crackers and corn chips space along with two manufacturing facilities in Nevada and North Carolina. 

California-based RW Garcia’s products are all non-GMO verified, certified gluten-free, low sodium, kosher and free of artificial additives or preservatives. Its products include MixtBag Tortilla Chips, RW Garcia corn chips, Big Bag tortilla chips and more. 

The transaction is expected to close before year’s end and would give Utz ownership of RW’s manufacturing facilities in Nevada and North Carolina.  

“As a premier supplier of tortilla chips, crackers, and corn chips to retailers in North America, we believe Utz will be well-positioned to leverage RW Garcia’s manufacturing footprint and capacity to support its brands across the U.S,” said Robert Garcia, founder and CEO of RW Garcia. “Moreover, the Utz platform will enable our better-for-you RW Garcia branded product line to reach more retailers and consumers.” 

The deal is complementary to Utz’s June 2021 acquisition of Michigan-based Festida Foods, giving the snack company production capabilities in the North, East and West regions of the US, Utz wrote in a press release. 

The acquisition also expands Utz’s hold in the “better-for-you” brand category. 

“We expect this strategic acquisition will enable strong supply chain synergies, enhance our ability to expand distribution of our existing brands, and supplement our better-for-you product portfolio,” said Dylan Lissette, CEO of Utz. “RW Garcia has a great track record of better-for-you innovation and production capabilities, and with the RW Garcia brand as part of our portfolio, Utz’s retail sales in the better-for-you segment will exceed $100 million on an annual basis following the closing.” 

RW Garcia generated $66.2 million in net sales and $5.8 million in Adjusted EBITDA for the fiscal year ending June 30, 2021. Utz expects to purchase the company using its current balance sheet cash and revolving credit facility. 

Federal grant funding to support Pennsylvania’s child care subsidies

Child Care Works (CCW), Pennsylvania’s subsidized child care program, is set to receive $352 million in funding to decrease costs to families who qualify for subsidized care and add incentives for child care providers. 

The Wolf Administration announced on Monday that it will apply $352 million in Child Care Development Fund Federal American Rescue Plan Act (ARPA) funding to support the state’s CCW funding, starting Jan. 1, 2022. 

The funding comes after Pennsylvania received more than $1 billion from the ARPA to support the state’s child care industry, child care providers and the children and families relying on the system, the administration wrote in a press release. 

“We cannot miss an opportunity to invest resources where they will make a positive and lasting impact on our children. By targeting investments to our subsidized child care system, we are investing in equitable quality child care for all Pennsylvanians, no matter where they live or their income,” said Gov. Tom Wolf.  

The new funding for CCW will include $121.9 million to lower maximum copayments for eligible families. Current copayments through CCW range from 3% to 11%. The additional funding would lower that to 3% to 7%, in line with federal recommendations. 

The funding will also give CCW $213.7 million to increase base rates for providers participating in CCW and $16.8 million for add-on incentives for child care providers offering non-traditional hours. 

“Beyond its necessity for a thriving economy today, investments in quality early learning and child care programs carry into PreK-12 education and throughout adulthood,” said Meg Snead, acting secretary for the state Department of Human Services. This funding will give our youngest Pennsylvanians a strong start they deserve and supports the dedicated educators and professionals that make this possible.” 

Pavone Marketing Group acquires Manhattan-based marketing group 

Harrisburg-based independent marketing and research holding company Pavone Marketing Group (PMG) has expanded its reach into New York City with the acquisition of Eastwest Marketing Group in Manhattan.

Eastwest Marketing Group, a firm specialized in marketing, Point-Of-Sale and shopper service-line services, employs 12 full-time staff members and has a client list that includes national brands like Ritz, Oreo, Lysol and Post Consumer Brands. As part of its merger with Pavone, the agency will retain its name and office space in New York City.

Eastwest joins PMG’s growing list of industry-focused agencies, including Pavone, Quench, Varsity, WildFig, Leap and Market Street Trust Design Co.

“With any acquisition, we look for relationships that are mutually beneficial. We want a partner that’s going to make PMG stronger, better and more competitive. With its promotion marketing, shopper service-line services and New York City location, Eastwest Marketing Group does exactly that,” said Lisa Corry-Godby, director of communications at PMG. “Additionally, Pavone Marketing Group’s dedicated food and beverage agency, Quench, stands to gain significantly as shopper, POS and promotion service lines are now even stronger with this acquisition, and we’re excited to bring this to our clients.”

The strategic and operational promotion marketing services PMG will gain from Eastwest Marketing Group include kids marketing, promotion planning and execution, package design, POS development and design, direct marketing, shopper marketing and branding.

PMG’s clients include Sun-Maid, StarKist, Del Monte, Herr’s, OPTAVIA and Greystone Communities. Across its portfolio of companies, PMG employs over 90 people from locations in Harrisburg, Philadelphia, New York City and Atlanta.

Capstone Land acquires Lancaster title insurance company 

Capstone Land Transfer, a regional title insurance company in Lemoyne, has acquired competitor Lancaster-based Land Transfer Inc. Land Transfer will continue to operate under the same name at its North Duke Street location as part of the merger with Capstone. 

Capstone operates offices in Lemoyne, Maheim and Wyomissing. Its acquisition of Land Transfer will allow the company to expand its scope of business in Lancaster while building on Land Transfer’s historic success and expertise, the company wrote in a press release. 

Patti Connell, Land Transfer’s owner and operator, called the acquisition “a great blend of new software, young blood, and [as dynamic of a staff as] ourselves.” 

Fenner Precision Polymers acquires Lumsden Corp. 

Fenner Precision Polymers, a Manheim-based Michelin Group company specialized in reinforced polymer technology, acquired industrial conveyor belting and wire cloth manufacturer Lumsden Corp.

Fenner announced on Friday that it completed an acquisition with Lancaster-based Lumsden and will be retaining the company’s three brands under its portfolio of belting and high-value component solutions.

Lumsden’s three major brand categories include Hoyt Wire Cloth, used in crushed stone, sand and gravel, concrete and asphalt, coal and reclining applications; Wiremation, used for food processing heat treating, fiberglass and more; and Flexx Flow serving food processing markets similarly to Wiremation.

Fenner’s acquisition of Lumsden will strengthen the company’s position as a supplier of specialized conveying products and introduce new opportunities like metal screening for infrastructure, mining and road applications, the company wrote in a press release.

“Strong potential growth, market share gains and an opportunity to expand into new belting markets are all compelling reasons why Lumsden Corporation will play a critical role in our strategy,” said Jack Krecek, division managing director at Fenner Precision Polymers. “Lumsden is not only a respected leader in the belting industry – and one that greatly adds to our product portfolio – it is also a longtime Lancaster institution, with a presence here of more than 45 years.”

Fenner employs over 900 people worldwide and supports clients in industries such as 3D printing, document handling, transportation, mining, agriculture and more. With the acquisition of Lumsden it will be adding 126 local employees.

Glenn Farrell, Lumsden Corp. CEO, is set to continue with the organization in a consulting role for the next year, said a Fenner spokesperson.

Lumsden’s merger with Fenner is just the move the company needs to take its business to the next level, said Farrell.

“We’ve considered offers prior to this in the past, but always in the back of our mind was the thought of how ideal it would be to partner with Fenner, where we share the same location, similar markets, and the simple fact that they are such a trusted industry leader,” he said.

Murphy Acquisitions buys Burning Bridge Antiques Market in Columbia 

Burning Bridge Antiques Market at 304 Walnut Street, Columbia.

Columbia, Lancaster County-based Burning Bridge Antiques Market has been sold to Murphy Acquisition Group LLC for an undisclosed amount of money.

The downtown Columbia antique market announced this week that it will continue operations under new ownership following the sale.

Burning Bridge is at 304 Walnut Street in Columbia’s historic CA Herr Hardware Building and features more than 200 dealers across 24,000 square feet of space. Manager Cindi Coleman will continue to manage its daily operations.

Don Murphy, president of Murphy Acquisition, owns and operates the Murphy Retail company, which also owns the Murphy’s Mercantile store in Columbia. As part of the deal, Burning Bridge will be integrated into the retail company.

“The purchase of Burning Bridge fits in nicely with the overall vision of economic development and revitalization that we are fulfilling in downtown Columbia,” said Murphy.

Chicago wholesaler buys three Pennsylvania medical marijuana dispensaries 

One of three Cure Pennsylvania dispensaries to be acquired by Cresco Labs this year. PHOTO PROVIDED.

 

Cresco Labs, a Chicago-based wholesalerof cannabis products and a multistate operator of medical marijuana dispensaries, has agreed to acquire three Cure Pennsylvania dispensaries for $90 million.

Cresco announced on Thursday that it has entered a definitive agreement to acquire the dispensaries owned by Bay, LLC, doing business in Pennsylvania under its Cure Pennsylvania brand. The purchase includes Cure Penn dispensaries in Lancaster, Phoenixville and Philadelphia and is expected to close this year.

The dispensaries join four other Cresco operated dispensaries in the state located in Butler, Philadelphia, Pittsburgh and New Kensington.

“As we implement localization strategies tailored to state level dynamics, this transaction with Cure Penn is expected to expand our retail footprint in Pennsylvania, increase profitability and strengthen our wholesale leadership position in the state,” said Charlie Bachtell, CEO and co-founder of Cresco. “The Cure Penn team has developed a high-performing retail platform across three dispensaries that sets up another immediately accretive acquisition for Cresco Labs.”

Cresco is the largest wholesaler of branded cannabis products in the country and sells under a number of brands including Cresco, High Supply, Remedi and Wonder Wellness Co. It operates dispensaries through its Sunnyside brand of medical marijuana dispensaries.