Walgreens to buy Familymeds assets
The board of directors for Familymeds Group have ended the company’s struggle to turn things around by agreeing to sell off its assets and dissolve the business. Walgreen Co. has agreed to buy a majority of the company’s pharmacy assets for $60 million in cash and additional assumption of real estate leases, and will also offer positions to all 500 Familymeds employees at the 53 locations it is acquiring. Familymeds will receive $19 million in cash and lease payments from deals with other pharmacy operators.
Barnes posts
double-digit growth
Barnes Group, owner of industrial manufacturers Barnes Aerospace, Associated Spring, and Bowman Distribution, posted $1.3 billion in 2006 net sales, a 14 percent increase over 2005, and $117 million in operating income, a 57 percent jump. Each unit of the Bristol-headquartered company posted double-digit sales growth for the year. Its fourth quarter was particularly strong, with $12.2 million in operating profits, a 66 percent increase of its fourth quarter the year before.
Perez wants money for minority builders
Mayor Eddie A. Perez is calling for a $100,000 grant for The Minority Construction Council, which Perez says will help the group advocate for contracts and provide training and resources in the construction industry for Hartford residents. He is asking the city council to allocate the funds.
CORRECTIONS
• In the Feb. 5 Largest 2006 Office Leases list, the 242 Trumbull St., Hartford listing should have read CB Richard Ellis, lessee, and Cushman & Wakefield, lessor.
• The sub-head in the article, “Paperwork Was Pain In the Neck – And So Was Stapler,” published Feb. 19, was incorrect, and should have stated that Rushford Center, in signing a state Department of Public Health consent decree, did not admit to any wrongdoings or allegations.
• In the Feb. 19 “Largest Hartford Region Conventions” list, the estimated attendance column represents the number of people attending the event through its duration.
• In the Feb. 19 Save the Date section, the photo caption should have read Kathy McAfee.
