California
Business by LA Times Studios
Sarah Chung Park, CEO and Founder, Landing International Inc.
INDUSTRY UPDATES
Transcat, Inc., a leading provider of accredited calibration services, cost control and optimization services, and distribution and rental of value-added professional grade handheld test, measurement and control instrumentation, announced via press release that it has acquired privately held Martin Calibration Inc.
Los Angeles-based Verde Bioresins Inc. agreed to be acquired by Nxu Inc. from Humanitario Capital for $16.2 million on Oct. 23.
Orange County
Newport Beach-based GivBux Inc., a publicly traded app and charitable giving platform, announced that it signed a letter of intent to acquire VitorganAmerica.shop for $39 million.
Food
South L.A. will lose a treasured Black-owned restaurant with the closure of Post & Beam, but husband-and-wife owners John and Roni Cleveland say it will continue in a new form.
Uncertainty in the wake of the nearby Eaton fire spurs the decision to close Bar Chelou in Pasadena this month: ‘We have no clear path forward.’
Business
Denny’s, one of many fast-casual chains struggling with higher costs and changing consumer demand, says it’s closing about 150 restaurants.
Commercial Real Estate
Industrial developer CapRock Partners sold West Valley Logistics, a 270,000-square-foot warehouse in Walnut, to Pleaser USA Inc. for $100 million, or $370 per square foot.