Martek Biosciences of Columbia, which markets omega-3 supplements, has entered into an agreement to acquire Amerifit Brands of Cromwell, Conn., a consumer health and wellness company, from private equity firm Charterhouse Group in a $200 million all-cash transaction.
Amerifit Brands develops, markets and distributes branded consumer health and wellness products focused on women's and digestive health. Its products are sold in most major mass, club, drug, grocery and specialty stores, according to Martek information.
Amerifit's key products include Culturelle, a probiotic supplement; AZO, an over-the-counter treatment for urinary tract infections; and Estroven, a supplement that addresses menopause symptoms.
"Amerifit's first-class sales and marketing infrastructure and proven management team for selling branded consumer health and wellness products provide Martek with a platform for accelerating the commercialization of our nutritional product pipeline," said Martek CEO Steve Dubin.
Wegmans to hire 600 for Woodmore store
Wegmans Food Markets has begun the process of hiring 600 people, 550 of whom will be hired locally, for its new 135,000-square-foot supermarket at the Woodmore Towne Centre at Glenarden.
The company said it will spend $1.5 million training employees at the store, which is set to open in October.
Annapolis firm obtains $75M growth financing
TeleCommunication Systems of Annapolis has closed financing of $75 million in new credit facilities, with the help of Silicon Valley Bank of Vienna, Va. The bank led the financing with M&T Bank, which committed $35 million.
The deal includes a $30 million term loan and a $35 million revolving line of credit, along with options for TeleCommunication Systems to draw an additional $10 million.
Port breaks record for cruises in 2009
The Port of Baltimore broke its record with 81 homeport cruises last year, the Maryland Port Administration announced Thursday. About 167,000 were on those cruises.
The previous record of 60 cruises was set in 2004.
"Even in a very difficult economy, our very successful 2009 cruise season provides us with a tremendous sense of optimism for the future of cruising from Maryland," said Gov. Martin O'Malley (D) in a statement. "The strong cruise market in Baltimore last year generated an estimated economic impact of $152 million, illustrating that our Port continues to drive economic progress and create jobs. We expect another strong performance in 2010."
Structural Systems lays off 176
Structural Systems of Thurmont, which manufactures and delivers custom-designed building products throughout the mid-Atlantic region, has laid off 176 employees, according to the state Department of Labor, Licensing and Regulation's Web site.
Company officials did not return calls seeking comment.
Developer supports new agency for Montgomery
Bryant Foulger, a prominent developer and builder, has joined Montgomery County Council President Nancy M. Floreen's call for creating an economic development authority. Floreen has not presented a detailed proposal; she said Thursday she is a couple of weeks away from actually presenting a plan.
But Foulger, principal of Rockville's Foulger-Pratt Cos., says such an agency needs to be given the power and ability to help create good-paying jobs. While praising the work of county economic development Director Steven A. Silverman, Foulger said a development agency needs a reliable source of funding and must be a priority for County Executive Isiah Leggett (D) and the council.
He contends Leggett's administration has not paid enough attention to how and why Montgomery has lagged behind neighboring Fairfax County, Va., on key measures such as wages and job growth.
"We've never ruled out" such an agency, Silverman said, "and we are working with folks in the business community and with Nancy Floreen to see if there will be something in an [authority] that [adds] value for job creation."
Brandywine landfill may face environmental suit
The Maryland Department of the Environment announced it has filed a notice of intent to sue the managers of a Brandywine landfill after its investigations found the company had allowed the discharge of pollutants into groundwater without a permit.
Regional power company Mirant Mid-Atlantic and Mirant Maryland Ash Management have managed the landfill, which takes in waste from coal combustion processes, since 2000.
Misty Allen, a Mirant spokeswoman, said the company expected the agency to get involved but maintains Mirant has done nothing wrong. "Mirant maintains that we are in full compliance with the permits issued by the department," Allen said, but declined to comment on the specific allegations.
Pixelligent and Brewer awarded $8.2M project
Pixelligent Technologies of College Park and global chemical company Brewer Science have been awarded an $8.2 million project through the National Institute of Standards and Technology Technology Innovation Program.
Pixelligent, involved in developing nanocomposites for applications in the electronics and military markets, and Brewer Science have teamed to create and scale up the production of high-quality nanocomposites with enhanced performance and new functionality, according to information from the companies.
Such nanocomposites are expected to have a wide range of semiconductor and microelectronics applications such as coatings that can create brighter and more efficient LED displays and new materials that can improve the performance of Blu-ray discs.
Foreign companies move to Montgomery
Three foreign companies have established new U.S. offices in Montgomery County: PV Inova of Brazil, Daewoong Pharmaceutical of South Korea and Yisheng Biopharma Group of China, according to county government information.
Yisheng has located its first U.S subsidiary in Gaithersburg, occupying 7,860 square feet of office space. It is one of the largest privately owned vaccine manufacturers in China.
PV Inova of Rio de Janeiro develops technologies and software to support fleet managers in the transportation industry. Its Montgomery office, in the Rockville Innovation Center, will focus on its TELOTrak product, a Web-based global positioning satellite fleet management system.
Daewoong America is a wholly owned subsidiary of Daewoong Pharmaceutical. The company, also in the Rockville Innovation Center, plans to obtain U.S. regulatory approval for some of its antibiotic and anti-cancer drugs and then establish a research and development center.
Gaylord hotel, security guards agree on contract
Security officers represented by the Service Employees International Union and Gaylord National Resort & Convention Center at National Harbor in Oxon Hill have agreed on a five-year contract, according to a union statement.
Some of the 71 security officers could see their hourly wages increase from $14 to $19.25 over the life of the contract and their insurance payments cut by 90 percent. Also, Gaylord will match employees' contributions to their 401(k) plans to up to 5 percent of the guard's salary.
The contract also includes higher overtime pay and more sick days, vacation time and paid holidays.
Oxon Hill company wins federal aviation deal
Ian, Evan & Alexander Corp. of Oxon Hill has won a five-year Federal Aviation Administration contract worth up to $2 billion.
The company will provide information technology support services.