Financial News

ST. LOUIS — It was announced in October that Energizer Holdings emerged as the winning bidder for American Safety Razor in bankruptcy court proceedings, inking a deal to buy substantially all of ASR’s assets. To top it off, Energizer earlier this year won—ironically from ASR—the entry price point/disposable wet-shaving business at Walmart. In light of these developments, at least one industry observer believed that Energizer is poised for significant growth opportunities.

NEW YORK — Look for a big surge in brand-to-generic drug switches at the pharmacy counter over the next year.

NEW YORK Coty has agreed to acquire Russian beauty maker Kalina Group's German subsidiary, Dr. Scheller Cosmetics. Under the deal, Kalina will retain the rights to the Dr. Scheller skin care business and related subsidiaries.

ATLANTA Drug maker Arbor Pharmaceuticals has obtained nearly $35 million in financing, the company said Thursday.

Arbor said the $34.8 million included a $17.5 million investment in the form of Series B Preferred Stock, mostly from Signet Healthcare Partners, while the rest was in the form of a loan provided by investors, as well as portions of the loan and investment from existing shareholders. The company markets drugs for such indications as nasal hygiene and dermatitis.

NEW YORK Rumors have surfaced that wholesaler BJ's is looking to sell.

The news first was reported by the New York Post, which cited a source close to the matter. The report said that BJ's is looking to hire an adviser to aid its business-making decisions, including a possible sale to a private equity, naming Los Angeles-based firm Leonard Green & Partners as its likely buyer.

MONTVALE, N.J. Grocer A&P, which is in the midst of a turnaround, has entered into an agreement with Winstanley Enterprises and certain affiliated entities to sell six of its retail locations for $89.8 million, exclusive of closing costs, in a sale-leaseback deal.

Winstanley agreed to purchase 100% of the company's interest in six Pathmark retail properties located in New York, New Jersey, Pennsylvania and Delaware. The properties are 95% occupied and leased to A&P.