MERGERS AND ACQUISITIONS General Mills Inc., Golden Valley, will purchase Denver-based Humm Foods, makers of Larabar and Larabar Jocalat. The brands will become part of Small Planet Foods, the natural and organic products group of General Mills, and a category leader with its Cascadian Farm and Muir Glen brands.
Company news
June 11, 2008 at 12:46AM
Avalon Oil & Gas Inc., Minneapolis, has acquired a 2.5 percent working interest and 1.875 percent net revenue interest in the Grace .2 Well, Lincoln County, Okla. The Grace .2 is now producing 350 MCF of natural gas per day. Last week the price of gas closed above $12/MMbtu on the New York Mercantile Exchange, having peaked above that level in intraday trading recently in three previous sessions.
NEW BUSINESS Virtual Radiologic Corp., Minneapolis, has reached a multiyear technology licensing partnership with Massachusetts General Physicians Organization, partner of the Massachusetts General Hospital and teaching affiliate of Harvard Medical School.
Community Reinvestment Fund USA (CRF), a Minneapolis-based nonprofit organization that connects community-based and economic-development lenders with the capital resources of Wall Street, has successfully marketed its largest security offering ever, selling out its latest series of notes backed by community development loans in a market where many institutional investors are skittish about the economy. In this $62 million offering, the highest class of notes -- totaling about $47 million, or 76 percent of the entire offering -- received an AAA rating from Standard & Poor's. The CRF notes were offered through a private placement managed by Piper Jaffray & Co., Minneapolis.
Smart Information Flow Technologies, Minneapolis, has been awarded up to $10 million by the Defense Advanced Research Project Agency for the Deep Green program. The objective of the three-year initiative is to design technologies that will give military commanders improved planning and forecasting capabilities. The Smart Information Flow team will be responsible for design and implementation of a user interface to illustrate alternate plans and possible "futures."
PERFORMANCE Ballistic Recovery Systems Inc., the South St. Paul-based manufacturer of whole-aircraft emergency parachute systems, said its South St. Paul headquarters location had received an official certificate of registration from the independent auditor BSI Management Systems indicating that its Quality Management System complies with all requirements of the internationally recognized ISO 9001:2000 quality standard.
Risdall Marketing Group, New Brighton, was honored with the Business of the Year award by the MetroNorth Chamber of Commerce at its annual business awards luncheon.
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Target sponsored the event for 18 years, but the organization cut ties after the retailer scaled back its DEI efforts.
