Giant Eagle may still get LeNature plant
PITTSBURGH Giant Eagle and Cadbury Schweppes have come to terms on an agreement that would see the bankrupt Le-Nature’s bottling plant revert to Giant Eagle ownership for a sum of $19 million, according to court papers filed Wednesday.
Originally, Giant Eagle was awarded the bottling plant for a sum of $20 million, which beat out Cadbury’s bid of $19 million. However, the court voided Giant Eagle’s bid following disclosures that the Pittsburgh-based grocer may have threatened to cut $7 million in annual orders of Cadbury’s beverages. Judge Bruce McCullough also ruled Giant Eagle must forfeit its $2 million bidding deposit.
Under the terms of the proposed settlement, Todd Neilson, Le-Nature’s court-appointed trustee, would drop his objections to Cadbury selling the plant to Giant Eagle—Cadbury had informed the court it would likely sell the plant to Giant Eagle if its bid was accepted for the bottling plant over the objections of Neilson.
In exchange, Giant Eagle will pay $2.3 million, drop plans to appeal the judge’s order that it forfeit the $2 million deposit, and pay some $89,000 to help move a sewer line at the plant, a cost Le-Nature’s had originally agreed to pay.
The proposed settlement will be considered at a Sept. 25 hearing.
Jarden signs up for GMDC development training program
COLORADO SPRINGS, Colo. The Global Market Development Center announced on Saturday that their Professional Development Program is to be used by Jarden Home Brands as part of their employees’ personal development.
Developed by GDMC and Mercuri/Cross Knowledge, the program is specifically designed for companies that produce and sell general merchandise, including health, beauty and wellness products. Jarden Home Brands, a subsidiary of Jarden Corporation, will be granting sales associates access to over 160 e-learning modules and customized classroom training later this month.
In addition to the sales associates, Jarden Home Brands also said that employees within their manufacturing facility and distribution centers will also be taking courses designed by GDMC develop team building skills.
FGX International wins Rite Aid’s supplier of the year award
SMITHFIELD, R.I. FGX International last month was awarded Rite Aid’s Supplier of the Year Award at that chain’s annual trade show and managers meeting held in Baltimore. FGX International supplies Foster Grant Sunglasses, Magnivision Reading Glasses and jewelry to Rite Aid.
“We can all take tremendous pride in the receipt of this award,” stated Alec Taylor, FGX chief executive officer. “As with all of our successes, it was a team effort. We have always valued our relationship with Rite Aid and look forward to many more years of success with them.”
“FGX International … has faithfully supported all Rite Aid’s efforts and plans over the years,” Rite Aid stated during the award ceremony. “Their commitment to excellence is evident in their account management, category and brand analysis, on-time and complete delivery performance, and an average 97 percent [direct-store delivery] service level.”