Statewide: Charlotte region, September 2014
STATEWIDE Charlotte Region
Walking on Sealed Air
MATTHEWS — Family Dollar Stores, the discount chain started in Charlotte by Leon Levine in 1959, drew takeover bids from two rivals. Chesapeake, Va.-based Dollar Tree’s $8.5 billion cash-and-stock offer, accepted in July, was trumped by Goodlettsville, Tenn.-based Dollar General’s $9.7 billion all-cash bid in August. Dollar General plans to cut as much as $600 million in annual costs, raising worries of job losses at Family Dollar’s 1,400-employee headquarters here. The combined company would operate about 20,000 stores.
CHARLOTTE — Spectra Group will open an office here, creating 250 jobs by the end of 2018 with an average annual salary of $84,996, higher than Mecklenburg County’s $59,046. The Princeton, N.J.-based bank-technology consultancy will invest up to $2 million and lease a 12,864-square-foot office. It is eligible for more than $2.9 million in state grants.
CHARLOTTE — Frontier Capital invested $25 million in NetDocuments, a Lehi, Utah, provider of cloud-based storage and management of documents and email for law firms and other businesses. The private-equity firm, founded here in 1999, invests in technology and software companies with annual revenue of $5 million to $30 million.
MONROE — Glenmark Pharmaceuticals will invest $17 million in a 100,000-square-foot plant and hire 41 people by the end of 2015. The jobs will pay an average annual salary of $68,000, higher than Union County’s $38,450. The Mumbai, India-based company makes oral contraceptives and other generic medications. It will receive a grant of up to $340,000 over five years.
CONCORD — Memphis, Tenn.-based FedEx will invest $41 million in a distribution center here for its SmartPost residential-shipping unit and add 59 full-time and 462 part-time jobs over three years. Some positions will be filled by employees from a Charlotte distribution center that FedEx is closing.
CHARLOTTE — Steven Jones, 46, was convicted of racketeering and money-laundering conspiracy, securities fraud and other charges in a scheme to bilk investors. He is among 86 people convicted or who pleaded guilty in the federal Operation Wax House probe of a $75 million mortgage and investment scheme in Mecklenburg and Union counties.
CHARLOTTE — Premier will acquire TheraDoc, a subsidiary of Lake Forest, Ill.-based Hospira, for $117 million. Premier provides purchasing and data-management services to about 3,000 hospitals and 110,000 other health-care providers. TheraDoc’s software alerts medical staff to potential infection risks.