BRIEFCASE.Byline: - Staff and Wire Services
Burkle shopping for store stakes
Former supermarket chain mogul Ron Burkle is acquiring a slice of the grocery business again.
The billionaire investor, who once owned the Ralphs and Food 4 Less grocery chains, recently purchased a 9.2 percent stake in Wild Oats Markets Wild Oats Markets is the operator of natural foods stores and farmers markets in North America. The stores offer dry grocery, meat, poultry, seafood, dairy, frozen, prepared foods, bakery, vitamins and supplements, health and body care, and household items. Inc. and now plans to buy a 40 percent slice of Pathmark Stores Inc.
Boulder, Colo.-based Wild Oats sells organic foods and has 108 stores in 24 states, including 25 stores in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . Carteret, N.J.-based Pathmark has 142 supermarkets across the Northeast.
Burkle's Yucaipa Cos. is expected to close on its acquisition of the Pathmark shares this summer, at which point Yucaipa would add five members to the chain's six-member board of directors.
Deadline change for Krispy Kreme Krispy Kreme is a chain of doughnut stores. Its parent company is Krispy Kreme Doughnuts, Inc. (NYSE: KKD), based in Winston-Salem, North Carolina, United States.
CHARLOTTE - For the second time this year, Krispy Kreme Doughnuts Inc.'s lenders have agreed to push back a deadline before the company defaults on its $150 million credit line, the company said Friday.
Krispy Kreme also said it was working with an unnamed lending group to replace the credit line that could have gone into default as early as Friday. The company now has until April 11 to deliver financial statements for the quarter ended Oct. 31.
Shares of Krispy Kreme closed Thursday at $8.76, down 39 cents, or 4.26 percent, on the New York Stock Exchange New York Stock Exchange (NYSE)
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . The stock market was closed Friday for Good Friday Good Friday, anniversary of Jesus' death on the cross. According to the Gospels, Jesus was put to death on the Friday before Easter Day. Since the early church Good Friday has been observed by fasting and penance. .
In a news release, Krispy Kreme said it would use the proceeds from any new credit line to repay in full the lenders under its current agreement and for general needs.
SEC backing up PETA's proposal
STAMFORD - General Electric Co., the industrial, financial and media company, should allow shareholders to vote on a proposal by an animal rights group to stop animal testing Animal testing or animal research refers to the use of animals in experiments. It is estimated that 50 to 100 million vertebrate animals worldwide  , the Securities and Exchange Commission said.
GE is the latest of several major companies hit with similar advisory opinions from the commission's staff. People for the Ethical Treatment of Animals People for the Ethical Treatment of Animals (PETA) is an international nonprofit organization that supports Animal Rights and has spawned a tremendous amount of conflict and controversy from its inception. said it has also won the right to place such proposals on the agenda for shareholders votes at Dow Chemical Co., 3M Co., Johnson & Johnson and Schering-Plough Corp.
``We are pleased that the SEC agrees with us that shareholders have a right to vote on important issues affecting their investments,'' said Mary Beth Sweetland, PETA's senior vice president, said Friday.
The proposal, which will be on the agenda at GE's annual meeting next month, calls for the company to replace animal-based tests with methods that don't use animals.
Diamond Foods planning for IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard.
WASHINGTON - Diamond Foods Inc., a subsidiary of agricultural cooperative An Agricultural cooperative is a cooperative where farmers pool their resources in certain areas. There are two primary types of agricultural cooperatives:
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. a regulatory filing Friday.
With the offering, Diamond Walnut Growers of Stockton, Calif., will convert from a cooperative to a corporation known as Diamond Foods Inc.
The company, which markets and distributes nuts, plans to sell 5.33 million shares of its common stock at $14 to $16 a share, according to the filing with the Securities and Exchange Commission.
About 6.7 million shares of stock will be distributed to members of Diamond Walnut Growers in the conversion.
Proceeds from the IPO will be used to pay down debt, to pay cash to members of Diamond Growers in connection with the conversion, and for general corporate purposes.