News roundup: Circle K sells Nicholson Drive location … CC’s opens Shreveport coffee house as part of aggressive expansion … General Mills acquiring Blue Buffalo pet food maker for $8B
Sold: Circle K Stores Inc. has sold its location at the intersection of Nicholson and Brightside drives to a Baton Rouge-based limited liability company called Tribal Real Estate Holdings. The deal closed on Wednesday, says Mark Hebert of Kurz and Hebert Commerical Real Estate, who manages the LLC. The price is listed as $10 and other good and valuable considerations.
Expanding its reach: New Orleans-based CC’s Coffee House has opened a new location in Shreveport and is developing a second one in the city as part of an aggressive growth strategy to triple its number of stores within five years. CC’s announced its expansion plans in early 2017. At the time, the chain had 33 locations, the majority of which were located in Baton Rouge, New Orleans and Lafayette. It now has more than 40 locations in Louisiana and Mississippi, with more planned in the broader Gulf South.
Cats and dogs: General Mills announced today its intention to buy high-end pet food maker Blue Buffalo for $8 billion. The move is a return to the pet business for the 150-year-old company, which used to sell food for cats, dogs and birds back in the 1950s. Blue Buffalo Pet Products Inc. had nearly $1.3 billion in net sales last year and Minneapolis-based General Mills sees consistent growth of between 3% and 4% in the $30 billion pet food market. Read more.