ABC Supply Co., Inc. Acquires Minneapolis Distributor

BELOIT, Wis. – Building products distributor ABC Supply Co., Inc. has acquired the assets of Western Roofing Supply Company Inc., a roofing supply distributor inMinneapolis, Minnesota. Founded in 1923, Western Roofing Supply has a single location, at 2727 26th Ave. S. It will become the newest ABC Supply branch and the company’s fifth in the […]

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Fortune Brands buying Norcraft for about $600 million

NEW YORK (AP) — Home and security products company Fortune Brands Home & Security Inc. will buy the cabinet maker Norcraft Companies Inc. for about $600 million. Deerfield, Illinois-based Fortune Brands will pay $25.50 per share, marking a 14.7 percent premium to Eagan, Minnesota-based Norcraft’s closing price on Friday. The deal will help Fortune Brands […]

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Jobless rates fall in all Illinois metro areas

CHICAGO (AP) — The Illinois Department of Employment Security says unemployment fell in every Illinois metro area in February. It was the 12th straight month of across-the-board improvement. The department said Tuesday in its monthly report on the state’s metro areas that while nine of the 14 tracked areas added jobs in February, the Peoria, […]

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Morgan Stanley cuts estimate of US online bet market in half 


(AP) — Morgan Stanley has cut its estimate of the potential U.S. Internet gambling market by nearly half. The firm now estimates the nationwide online betting market at $2.7 billion by 2020, down from an initial estimate of $5 billion. In a report issue Tuesday, the firm predicts no additional states will approve Internet gambling […]

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Peoria insurance firm to make $15M headquarters addition

PEORIA, Ill. (AP) — The insurance firm RLI Corp. has announced a $15 million addition to its headquarters in Peoria. The Journal Star reports (http://bit.ly/1ExB2yy ) that RLI chairman and CEO Jonathan Michael made the announcement on Monday. He called it the “next phase of renovation” after the company completed a $20 million facelift in […]

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USDA: Record soybean acres expected, corn acres to drop

(AP) — Farmers are expected to plant a record number of soybean acres this year, but fewer acres of corn as profit potential for the grain remains low due to slumping prices, the U.S. Department of Agriculture said Tuesday in its first report of the new crop season. The USDA surveyed 84,000 farmers in March […]

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HJ Heinz buying Kraft and building a $28 billion food giant 


NORTHFIELD, Ill. (AP) — H.J. Heinz Co. is buying Kraft Foods, creating one of the largest food and beverage companies in the world with annual revenue of about $28 billion. The Kraft Heinz Co. will own Kraft, Heinz, Oscar Mayer, Ore-Ida and other brands. Eight of those brands have annual sales of $1 billion or […]

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HJ Heinz buys Kraft to build $28 billion food giant 


(AP) — Some of the most familiar names in ketchup, pickles, cheese and hot dogs are set to come under the same roof after H.J. Heinz Co. announced plans Wednesday to buy Kraft and create one of the world’s largest food and beverage companies. The deal would bring together an array of longtime staples in […]

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Jobless rate falls to 6 percent in February across Illinois

CHICAGO (AP) — Unemployment continued to fall in Illinois in February, hitting 6 percent for the first time since 2008. The Illinois Department of Employment Security said Tuesday that the jobless rate fell to that level from a January rate of 6.1 percent. The national unemployment rate was 5.5 percent in February. Unemployment has now […]

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Lands’ End 4Q profit falls 28 percent, partly on recall

DODGEVILLE, Wis. (AP) — Lands’ End’s fourth-quarter profit dropped 28 percent, partly on the effects from a product recall in January. The company earned $33.1 million, or $1.03 per share. After adjusting for non-recurring costs, it earned $1.12 per share. Revenue fell about 5 percent to $504.6 million from $530.4 million. For the year, the […]

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