MINNEAPOLIS ST PAUL BUSINESS JOURNAL

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  1. Hormel to spend $137 million on new Jennie-O plant in Melrose

    Hormel Foods Corp. will invest more than $137 million in a new Jennie-O Turkey Store processing plant in Melrose, Minn., that will mostly replace an existing one there, the company announced Wednesday. Construction on the new, 300,000-square-foot plant began this month and is expected to be completed in early 2019. "The new equipment will enhance our animal handling practices, and the increased automation will improve people safety," said Glenn Leitch, president at Jennie-O Turkey Store, in a statement. The…
  2. EnteroMedics snaps up maker of obesity 'vest'

    Medical-device maker EnteroMedics Inc. has acquired BarioSurg Inc., a California company developing a treatment for obesity. BarioSurg makes the Gastric Vest System, a medical device that wraps around the stomach and reduces its size. The product aims to serve as an alternative to bariatric surgery. The vest system will complement Roseville-based EnteroMedics’ existing product, an implantable stimulator that treats obesity through electrical pulses, the company said in a news release. EnteroMedics…
  3. Target will pay $18.5M to states in data breach settlement

    More than three years after the embarrassing hack of its payment systems that exposed tens of millions of customer accounts, Target Corp. is still paying for it. The Wall Street Journal reports on the latest settlement deal between the Minneapolis-based retailer and dozens of state attorneys general: Target (NYSE: NYSE) pledged to pay $18.5 million and boost internal-security measures. The money will be split between 47 states and the District of Columbia; California will receive the biggest stake,…
  4. Century Plaza in downtown Minneapolis could be sold for office space

    Century Plaza, a nearly 300,000-square-foot building near the Minneapolis Convention Center, is poised for redevelopment as owner Hennepin County aims to sell the property. Finance & Commerce reports that developer Doug Hoskin's DEHL Properties, is the leading candidate to win the six-story building, offering Hennepin County $9.425 million. DEHL plans to turn the building into office space and "flexible space" that can be tapped by the convention center and other downtown hotels. The Hennepin County…
  5. If Target wants a Minnetonka liquor store, it may have to buy one

    Target Corp. asked the Minnetonka City Council this week to delay a vote on its proposed liquor license to run a liquor store in the city. The Star Tribune reports that the request was an indication that Target didn't think much of its chances if a vote actually happened. Target was already been rejected once by the Minnetonka City Council, whose members have said outright they think the suburb has enough liquor stores. Big-box liquor store Total Wine & More also suffered an early defeat in Minnetonka,…
  6. Summit Brewing to end distribution in six states, focus on its home market

    Summit Brewing Co., the second-largest brewer in Minnesota and 35th-largest brewery in the United States last year, is pulling out of six states due to distribution issues. The six states are Pennsylvania, Ohio, Illinois, Indiana, Nebraska, and Michigan. Summit made the announcement on its Facebook page last week. "I n order to strengthen our core and meet demand in our home market, we’ve made the difficult decision to cease distribution to six states," the statement reads. "To our friends, fans,…
  7. Not as fancy as you'd think, but here's a look at Adrian Peterson's available Eden Prairie home (slideshow)

    It's not much compared to his Houston-area mansion, but Adrian Peterson's Eden Prairie home is on the market for $695,000. The 0.3-acre property became available last week. The home is a total of 4,167 square feet. It has five bedrooms, four bathrooms, an office, bar, billiards room, two fireplaces and a three-car garage. Peterson, the Minnesota Vikings former star running back, purchased the home in 2007, his rookie season, for $665,000, according to Hennepin County records. The house was built…
  8. Nine of 10 top yogurt brands grew last year. Guess who owns the one that didn't?

    How rough is General Mills' Yoplait business right now? Forget fast-growing rivals like Chobani; it's getting outperformed by breakfast cereal. That's one of the sobering takeaways from a Fortune magazine piece titled, " General Mills Loses the Culture Wars" that details how the Golden Valley-based food giant fumbled its market leadership in the yogurt category to upstarts like Chobani. Yoplait sales fell 23 percent last year, even as the yogurt category overall expanded; it's the only one of the…
  9. Judge keeps unpublished Prince songs off the market

    A federal judge on Monday extended an injunction against a former Prince sound engineer who claims he has the rights to several unpublished songs from the deceased pop star. The Star Tribune has an update on the legal fight between Paisley Park Enterprises and George Boxill, who worked with Prince Rogers Nelson a decade ago and planned to release a six-song EP that he'd recorded with Prince at Paisley Park in 2006. One song, "Deliverance," was briefly released last month before the Prince estate…
  10. Gander Mountain locations could be 'white elephants'

    Camping World Holdings Inc. is still working out the lease details for the 70 or more Gander Mountain locations it wants to operate after it closes its deal to buy much of the bankrupt retailer's assets. Landlords for locations not taken by Camping World might have difficulty finding new tenants, according to real estate experts. Marcus Lemonis, chairman of Camping World Holdings Inc., said in the "next couple weeks" in a May 20 tweet replying to a question about when a final list will be released…