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|Articles - Jan/Feb 2012|
|Thursday, January 19, 2012|
Page 1 of 5
By Linda Baker
The Tazo move “was unfortunate,” says founder Steve Smith, who has since launched another tea enterprise, Steven Smith Teamaker, this one operating out of Northwest Portland. Battles over consolidating the Portland and Washington operations have gone on for years, Smith says. “When Tazo Portland turned into a manufacturing plant only, the soul started to slip away.”
Not all Oregon companies that have been acquired move out of state or are absorbed by the parent company. And the reasons businesses sell run the gamut: an intentional exit strategy, bankruptcy, succession challenges in family-owned businesses and more recently, a dismal IPO market. But if the spate of fall buyouts is noteworthy, it’s because it underscores Oregon’s primary role in the merger and acquisition marketplace as a kind of shopping center for large, out-of-state firms. “We’re an incubator,” says Smith. “There are lots of creative people here thinking about things in a unique way and creating small businesses that then have tremendous potential within a larger business at some point.”
There’s no shame in serving as the nation’s innovation mill. On the contrary, innovation has brought the state national and international acclaim. But as job and wage growth strategies in Oregon take center stage — and as other regions expand on our success — our place in the acquisition food chain, and the reasons for that placement, merit a closer look. Consider that in 2011, Oregon companies acquired or partially purchased 49 out-of-state companies in deals valued at about $1.7 billion, according to New York-based Dealogic. That figure doesn't include the value of deals with undisclosed terms. A single acquisition, Precision Castparts’ $900 million purchase of Bellevue-based Primus, accounted for more than half of the amount invested.
By contrast, there were 82 Oregon targeted acquisitions or partial purchases by out-of-state companies or private equity firms and investors in 2011 — a deal landscape valued at about $2.7 billion (not including undisclosed terms). Those acquisitions added to a string of buyouts or majority stake sales of Oregon companies, a list that includes Harry & David, U.S. Bank, Tektronix, Willamette Industries, YoCream, Hanna Andersson, Fred Meyer, Lucy Activewear and Stumptown Coffee.
“Oregon is building businesses that people want to buy,” says Carolyn Vogt, a Lane Powell attorney. “[But] why are we the target rather than the buyer?”
Tuesday, November 03, 2015
PHOTOS BY JASON E. KAPLAN
Wednesday, October 28, 2015
BY APRIL STREETER
The world's second-largest wind energy project yields costs and benefits for a sheep-farming family in Eastern Oregon.
Wednesday, September 30, 2015
BY LINDA BAKER | EDITOR
The media coverage about Pope Francis must have put me in a Biblical frame of mind. Because after touring the latest phase of the South Waterfront development, a mind boggling 1.5 million square feet of office and retail space that will spring up north of the aerial tram over the next few years, I couldn’t stop thinking about the massive project as a modern day creation story.
Tuesday, November 17, 2015
BY LINDA BAKER
The past month has been marked by upheaval in the health insurance markets. I also check in on clients of the Export-Import bank, a federal credit agency that subsidizes, and insures, foreign exports.
Monday, September 28, 2015
BY BEN DEJARNETTE
Controversial track star Nick Symmonds is leveraging his celebrity to grow a performance chewing-gum brand. Fans hail his marketing ploys as genius. Critics dub them shameless.
Friday, October 30, 2015
BY CHRIS NOBLE | ART DIRECTOR
Against a changing backdrop Patrick Criseter’s infectious grin remained constant. It’s a cheesy (pun intended) beam that begs for a hashtag.
Saturday, October 24, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
What's it like working with your sister and how do you compete in Portland's crowded artisan ice cream space?
|The Love Boat|
|The Food Pod Grows Up|
|The High Road|
|Tinker, Tailor, Portland Maker|
|The Shift to Community Health Care|
|The Harder They Fall|
|Costco chicken salad linked to E. coli case in Washington|
|Nestle comes clean about benefitting from slave labor|
|Enormous drugmaker emerges from Pfizer, Allergan deal|
|Startups joining lobbying game|
|Merchants complain as Square goes public|
|Solutions sought for unpaid child support|
|FDA OKs GMO salmon|
Economic diversity has proven a smart strategy for the Port of Hood River. How can other Oregon communities replicate the model?
Phone, Internet needs of small community school districts earn attention of top-five telecom provider.
Farmland LP grows its vision for organic farming in Oregon.
The Salem Convention Center has capped its tenth anniversary year by earning the prestigious “Best of the Best 2015” award from NW Meetings & Events magazine. Selected as the Best Convention/Conference Venue in Oregon by meeting and event planners from Alaska, British Columbia, Idaho, Oregon and Washington, the Salem Convention Center ranked above the Oregon Convention Center and the Portland Art Museum.
The Oregon Cooperative Hall of Fame honors individuals for their outstanding contributions to the successful building and operation of Oregon agricultural cooperatives.
Health insurer reports $10.2 million in net income after taxes through the first nine months of 2015.