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Dealwatch- May 2011

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Articles - May 2011
Wednesday, April 20, 2011
  1. Lake Oswego-based Greenbrier has announced orders to manufacture $325 million in new railcars. The deal calls for about 4,200 railcar platforms with expected delivery later in 2011. It also reflects a continued rebound for the company, which saw its backlog and deliveries plunge during the recession.
  2. A Texas restaurant and entertainment tycoon offered in April to buy Portland-based McCormick & Schmick's Seafood Restaurants for $137.3 million in a hostile takeover. Tilman Fertitta, the CEO of privately held Landry, owned about 10% of the company's 14.9 million shares, which made him the largest individual investor when he proposed the deal through a subsidiary.
  3. Milwaukie-based handbag maker Baggallini has accepted a $33.8 million acquisition offer from R.G. Barry, a footwear marketer based in Pickerington, Ohio. Baggallini, a private company launched in 1995 by a pair of flight attendants, reported an annual sales growth rate of 19% since 2006. Baggallini’s headquarters will remain in the region as a wholly owned subsidiary.
  4. The Portland-based Craft Brewers Alliance stands to make $16.3 million by selling its 42% ownership of the Chicago-based Goose Island brewery to St. Louis-based Anheuser-Busch, which announced it would buy the company for $38.8 million. Craft Brewers operates Portland’s Widmer Brother’s Brewing, Red Hook Ale Brewery of Woodinville, Wash., and distributes Kona Brewing Company products.
  5. A commercial real estate company in New York has purchased two Portland properties for a total of $21.4 million. Jonathan Rose Cos. has bought the 124-unit Collins Circle apartment building at SW 17th Avenue and Jefferson Street for $12.5 million. It also has bought the Yeon Building, a 15-floor tower at 522 SW Fifth Ave, for $8.9 million. The company plans renovations for both.
Corey Paul
 

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