Financial News

The St. Louis-based has entered a definitive agreement to acquire Spectrum Brands Global Battery and Portable Lighting Business, which includes the brands Varta and Rayovac for $2 billion in cash.

The Quebecois company’s third-quarter earnings showed showing an uptick in retail performance even as the company’s generics manufacturer Pro Doc and its ongoing acquisition of Canadian grocer Metro brought down its operating income.

Walmart is raising its starting wage for all hourly associates in the United States, handing out bonuses and expanding maternity and parental leave benefits including providing financial assistance for adoption.

The retailer said it now expects 2017 will be the fourth consecutive year in which its digital sales grow more than 25%.

It has been announced that Lactalis, a dairy company whose brand of products includes Galbani, Parmalat and Stonyfield Farm among others has acquired Siggi’s for an undisclosed amount.

Icelandic style skyr yogurts company, siggi’s will continue to operate out of its New York City office and remain as a standalone company under its current leadership team, which includes its founder and CEO Siggi Hilmarsson and Bart Adlam as president.

Independent African-American owned Essence Ventures has announced the acquisition of the multi-platform media company Essence Communications from Time.

The New York City-based company’s current president, Michelle Ebanks will continue at the helm of the company and join its board of directors. In addition, the all Black female executive team of Essence including Ebanks will have an equity stake in the business.

As good as Walgreens performed behind the back bench this past quarter, the company’s continued focus on enhancing its beauty offerings is expected to lead improvements across the front-end as Walgreens plans to amalgamate the many store format pilots it has been testing into one of many yet-to-be-identified stores.