Trading Partners

The Kids In Need Foundation will hold its 15th annual Kids In Need Foundation Education Celebration Gala Wednesday, Sept. 25, at the Depot, in Minneapolis, Minn. 

A cocktail reception, sponsored by Target, will kick things off at 6:30 p.m., followed by the Gala Dinner, sponsored by 3M, at 7:30 p.m. 

MOLINE, Ill. — Deere & Company has elected Cargill CEO Gregory R. Page to its board of directors. Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. 

Based in Minneapolis, Minnesota, the privately held company employs about 140,000 people in 65 countries and has annual sales of more than $130 billion.

SPARKS, Md. — McCormick & Company, a global manufacturer, marketer and distributor of spices, seasoning mixes and condiments, has acquired Wuhan Asia-Pacific Condiments Co. WAPC manufactures and markets the DaQiao and ChuShiLe brand of bouillon products, which have a leading position in the central region of China. 

Jacksonville, Fla. -- Bi-Lo Holdings, parent company of the Bi-Lo and Winn-Dixie grocery store brands, has entered into an agreement to buy three chains from Belgium-based Delhaize Group. Bi-Lo said it would acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize for $265 million in cash.

Norwalk, Conn. -- GE Capital announced it is administrative agent on a $550 million senior secured credit facility for Lord & Taylor, a leading North American retailer. The proceeds will be used to refinance debt, support ongoing working capital needs and for other corporate purposes.  

GE Capital also provided the company with interest rate risk management products and services.  GE Capital Markets served as joint lead arranger and book runner.
 

Cincinnati – Former CEO A.G. Lafley, 65, is returning to Procter & Gamble in his former position. Lafley is assuming the role of CEO, president and chairman of the board immediately, and will replace current CEO Bob McDonald, who is retiring June 30. Procter & Gamble has been involved in restructuring efforts, including thousands of layoffs, for the past year and a half.

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New York -- Cool weather affected sales at Lowe's for the first quarter ended May 3. 

Lowe’s saw net earnings of $540 million for the quarter, a 2.5% increase over the same period a year ago. Sales for the quarter decreased 0.5% to $13.1 billion from $13.2 billion in the year-ago quarter, while comparable-store sales decreased 0.7%. 

The world’s second largest home improvement retailer reported its results a day after rival Home Depot announced first-quarter sales of $19.1 billion, up 7.4%.