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BMW will invest US$ 1.1 bn to expand its production in Europe
Heineken announces US$ 3.1 bn tie-up with China Resources Beer
Radisson announces a new hotel at Gdańsk in Poland
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T-Mobile and Nokia ink US$ 3.5 bn, 5G network agreement
Johnson & Johnson Consumer Inc. to acquire Zarbee's Naturals
30 July - 04 August 2018
EAP to acquire Ohio Utica Shale Properties for US$ 2 bn
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BMW will invest US$ 1.1 bn
to expand its production in Europe
The BMW Group continues to expand its production network in Europe, with a new facility to be built in Hungary, close to the town of Debrecen. It will come at an investment of approximately €1 billion, offer capacity of up to 150,000 units a year and create over 1,000 new jobs.
“The BMW Group’s decision to build this new plant reaffirms our perspective for global growth. After significant investments in China, Mexico and the USA, we are now strengthening our activities in Europe to maintain a worldwide balance of production between Asia, America and our home continent,” said Harald Krüger, Chairman of the BMW AG Board of Management. “Europe is the BMW Group’s largest production location. In 2018 alone we are investing more than €1 billion in our German sites to upgrade and prepare them for electric mobility.”
Oliver Zipse, BMW AG Board Member for Production, added: “In the future, every BMW Group plant in Europe will be equipped to produce electrified as well as conventional vehicles. Our new plant in Hungary will also be able to manufacture both combustion and electrified BMW models – all on a single production line. It will bring greater capacity to our worldwide production network. When production commences, the plant will set new standards in flexibility, digitalisation and productivity.”
Europe is the most important market for the BMW Group. In 2017 it accounted for almost 45 percent of all vehicle sales, with 1.1 million units sold. Up to the end of June 2018, the BMW Group grew in many markets across the continent, with vehicle deliveries totalling more than 560,000 units – a year-on-year rise of 1.2 percent.
AMETEK, Inc. announced that it has completed the acquisition of Motec GmbH, a leading provider of integrated vision systems serving the high growth mobile machine vision market. Motec’s ruggedized vision products and integrated software solutions provide customers with improved operational efficiency and enhanced safety across a variety of critical mobile machine applications in transportation, agriculture, logistics and construction.
“Motec is an excellent acquisition. It has market leading positions across a number of high growth market applications and its vision systems nicely complement our existing instrumentation businesses by expanding our portfolio of solutions to our customers,” comments David A. Zapico, AMETEK Chairman and Chief Executive Officer.
Encino Acquisition Partners (EAP) announced that it has signed a definitive agreement to acquire all of Chesapeake Energy’s (Chesapeake) Utica Shale oil and gas assets in Ohio for a total consideration of US$2.0 billion in cash.
Canada Pension Plan Investment Board (CPPIB) and Encino Energy (Encino) formed EAP in 2017 to acquire large, high-margin oil and gas production and development assets in the U.S. lower 48 states. In support of this acquisition, CPPIB will invest approximately US$1.0 billion in EAP and will own approximately 98% of the partnership. Houston-based Encino will invest in EAP alongside CPPIB and will operate the acquired assets on behalf of EAP. Together, EAP’s owners plan to build a large, well-capitalized independent E&P company.
EAP to acquire Ohio Utica Shale Properties
for US$ 2 billion
KKR announced that it has entered into an agreement to acquire Discovery Midstream ("Discovery") from TPG Growth for approximately $1.2 billion. KKR is acquiring the provider of natural gas and oil gathering and natural gas processing services company through a newly formed joint venture with Williams. The transaction is being funded primarily through KKR's energy and infrastructure funds.
Founded in 2015 and based in Dallas, Texas, Discovery operates in the southern portion of Colorado's Denver-Julesburg Basin ("DJ Basin"). The company's infrastructure and related facilities are strategically located across more than 250,000 dedicated acres primarily in Weld and Adams counties. The Discovery system includes both natural gas and crude oil gathering pipelines, cryogenic gas processing, liquids handling and crude oil storage. The Discovery assets include a 60 million cubic feet per day (MMcf/d) gas processing plant with an additional 200 MMcf/d plant that is fully permitted and under construction. It is expected to be in service by the end of 2018.
KKR and Williams to acquire Discovery Midstream
for US$ 1.2 billion
Enbridge Inc. announced it has closed the previously announced agreements to sell its U.S. midstream businesses and monetize a portion of its renewables business for combined cash proceeds of approximately $3.15 billion.
"We are pleased to have moved quickly to execute and close these transactions at strong valuations," said Al Monaco, President and Chief Executive Officer of Enbridge. "In addition, the recently announced sale of the Canadian gathering and processing assets takes our total non-core asset sales this year to almost $7.5 billion. Together, these transactions support our strategy to move towards a pure pipeline and utility business model and provide the Company with significant additional financing flexibility as we fund our industry leading secured growth program."
Enbridge has closed the sale of its ownership interests in Midcoast Operating, L.P. and its subsidiaries to an affiliate of ArcLight Capital Partners, LLC for approximately $1.4 billion (approximately US$1.1 billion) in cash. The assets sold include the Company's U.S. natural gas and natural gas liquids (NGL) gathering, processing, transportation and marketing businesses, serving established basins in Texas, Oklahoma and Louisiana.
Enbridge Completes asset sales for approximately
US$ 3.15 billion
Enercare Inc. to be acquired by Brookfield Infrastructure in a US$ 3 billion transaction
Enercare Inc. and Brookfield Infrastructure and its institutional partners are pleased to announce that they have entered into an arrangement agreement (the "Arrangement Agreement") pursuant to which Brookfield has agreed to acquire all the issued and outstanding common shares of Enercare for C$4.3 billion including debt .
Brookfield Infrastructure Partners LP expects to fund, after the assumption of debt, approximately US$630 million of the Transaction, with the balance being funded by its institutional partners. Enercare, one of North America’s largest home and commercial services companies, provides residential energy infrastructure, including water heaters, heating, ventilation, air conditioners (“HVAC”) rentals, as well as other essential home services to approximately 1.6 million customers annually and has a sub-metering business with 270,000 contracted services.
JLL acquires Northwest Atlantic in Canada
JLL announced the acquisition of Northwest Atlantic (Canada) Inc. (NWA), the leading independent Canadian retail tenant representation and advisory firm headquartered in Toronto, Canada.
The transaction enables JLL to expand its current retail advisory business in the market and provide an extensive range of real estate and leasing services to retailers seeking to enter, expand or operate in Canada. Within JLL, Northwest Atlantic will operate as a boutique practice team with the same hands-on client-centric approach that allowed the company to succeed in the past.
NWA's seasoned retail experts have their pulse on the Canadian market. They currently represent more than 65 retailers. They have transacted in excess of 75 million square feet of retail real estate across Canada.
NWA was founded in 1991 and privately owned by 11 shareholders, including CEO Tim Sanderson, and Principals Lawrence Hildebrand, Chris Wood, Scott Lee and Dianne Lemm. The firm represents leading global, national and local retailers across all categories, and specializes in the leasing of power center, street front and enclosed mall retail segments.
T-Mobile and Nokia announced a landmark $3.5 billion agreement to accelerate the deployment of a nationwide 5G network. Nokia will provide T-Mobile with its complete end-to-end 5G technology, software and services portfolio, assisting the Un-carrier in its efforts to bring its 5G network to market for customers in the critical first years of the 5G cycle.
“We are all in on 5G,” said Neville Ray, Chief Technology Officer at T-Mobile. “Every dollar we spend is a 5G dollar, and our agreement with Nokia underscores the kind of investment we’re making to bring customers a mobile, nationwide 5G network. And together with Sprint, we’ll be able to do So. Much. More.”
As part of the agreement, Nokia will help build T-Mobile’s nationwide 5G network with 600 MHz and 28 GHz millimeter wave 5G capabilities compliant with 3GPP 5G New Radio (NR) standards.
T-Mobile and Nokia ink
US$ 3.5 bn, 5G network agreement
Imperva, Inc., a leading global provider of best-in-class cybersecurity solutions on-premises, in the cloud and across hybrid environments, announced it signed an agreement to acquire Prevoty. Together, Imperva and Prevoty will provide comprehensive security solutions to protect application services residing on-premises and in the cloud. This solution aligns with how organizations are developing and deploying application services in a hybrid cloud world.
The combination of Imperva and Prevoty will expand customers' security capabilities and their visibility into how applications are accessed, what happens within the applications, and how applications and users interact with data. With this expanded view across their business assets, customers will have deeper insights to help them understand and mitigate security risk.
Imperva to acquire Cybersecurity startup Prevoty
Cisco announced its intent to acquire privately-held Duo Security, headquartered in Ann Arbor, Mich. Duo Security is the leading provider of unified access security and multi-factor authentication delivered through the cloud. Duo Security's solution verifies the identity of users and the health of their devices before granting them access to applications – helping prevent cybersecurity breaches. Integration of Cisco's network, device and cloud security platforms with Duo Security's zero-trust authentication and access products will enable Cisco customers to easily and securely connect users to any application on any networked device.
Under the terms of the agreement, Cisco will pay $2.35 billion in cash and assumed equity awards for Duo Security's outstanding shares, warrants and equity incentives on a fully-diluted basis.
Cisco intent to acquire Duo Security for US$ 2.35 billion
Siemens has signed an agreement to acquire mendix, a pioneer and leader in cloud native low code application development. Under the agreement, Siemens will pay in cash €0.6 billion to acquire the company.
Mendix will retain its distinct brand, culture and continue serving customers across the full range of industries with its unique platform and broad ecosystem and community. Siemens will continue to invest in mendix's independent product roadmap, continuing its legacy as the most-innovative, open low-code cloud platform. Mendix will be part of the software business of Siemens' Digital Factory (DF) Division, with the mendix platform also deployed across other Divisions.
Siemens to acquire mendix
As part of its vision to modernize companies' Systems of Agreement (SofA), DocuSign, Inc. announced that it has signed a definitive agreement to acquire SpringCM, a leading cloud-based document generation and contract lifecycle management software company based in Chicago.
With the addition of SpringCM's capabilities in document generation, redlining, advanced document management, and end-to-end agreement workflow, the deal further accelerates DocuSign's broadening of its solution beyond e-signature to the rest of the agreement process—from preparing to signing, acting-on, and managing agreements.
"DocuSign pioneered the e-signature category, and has built a strong SaaS business around that capability. We've also started to offer solutions that connect and automate the entire agreement lifecycle," said Dan Springer, CEO of DocuSign. "We've done this with SpringCM as a partner across hundreds of joint commercial and enterprise customers. And we have many more DocuSign customers asking us to provide these capabilities natively as part of our platform. That's why we believe today's announcement makes such great business sense."
DocuSign signs agreement to acquire SpringCM
SS&C to acquire Eze Software from TPG For $1.45 billion
Eze Software, a global provider of investment technology, announced that SS&C Technologies Holdings, Inc. has entered into a definitive agreement to acquire the company from its previous owner, TPG Capital – the private equity platform of global alternative asset firm TPG.
SS&C, a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries, will acquire Eze from TPG Capital for $1.45 billion.
Eze Software provides leading investment technology to power investment operations, maximizing efficiencies across order management, trade execution & analytics, portfolio analytics & modeling, compliance & regulatory reporting, commission management, and portfolio & investor accounting. Its award-winning Eze Investment Suite delivers a seamless investment management experience to buy-side professionals in one cohesive, integrated platform by synchronizing data throughout the trade lifecycle. The born-in-the-cloud Eze Eclipse platform reimagines the entire investment operation in a single solution through a secure web browser interface.
Beacon Point Recovery Center opens new addiction treatment facility in Philadelphia
Beacon Point Recovery Center opens a new high quality, evidence-based, treatment facility offering individualized care where it's needed most. Located in the heart of the Port Richmond area of Philadelphia, Beacon Point offers detoxification and residential care for clients battling Substance Use Disorder (SUD) in a modern, comfortable setting.
Beacon Point was founded by three successful Philadelphia businessmen; Jim O'Connor, Joe Byrne and Danny Govbergwho saw the need for a new, high-quality treatment facility in Philadelphia. All three have deep roots in the community and, like most families, have in some way been affected by the disease of addiction.
"We realized there has not been a new residential program launched here in Philadelphia in over a decade. We decided to bring great treatment to the heart of the problem instead of the other way around. This way, our clients are dealing with a staff who knows this area, the culture, and can help their families as well," said O'Connor
Amgen Breaks Ground On Next-Generation Biomanufacturing Plant In Rhode Island
Amgen announced the groundbreaking of its new next -generation biomanufacturing plant that will be constructed at its West Greenwich, R.I.campus. The new plant is the first-of-its-kind in the U.S. and will use Amgen's proven next-generation biomanufacturing capabilities to manufacture products for the U.S. and global markets.
"Biologics manufacturing is a complex science and has long been a competitive advantage for Amgen," said Robert A. Bradway, chairman and chief executive officer at Amgen. "We are working to extend that advantage even further with a next-generation biomanufacturing plant in Rhode Island that will produce medicines to serve patients around the world suffering from serious illnesses."
A next-generation biomanufacturing plant incorporates multiple innovative technologies into a single facility, and therefore is built in half the construction time with approximately one half of the operating cost of a traditional plant. Next-generation biomanufacturing plants require a smaller manufacturing footprint and offer greater environmental benefits, including reduced consumption of water and energy and lower levels of carbon emissions. Within the plant, the equipment is portable, smaller and some components are disposable, which provides greater flexibility and speed when manufacturing different medicines simultaneously. This eliminates costly and complex retrofitting inherent in standard facilities and allows Amgen to respond to changing demands for its medicines with increased agility, ultimately impacting the speed at which a medicine is available for patients.
Zarbee's Naturals, the leader in creating safe and effective over-the-counter products that parents feel good about giving to their families, announced that it has agreed to be acquired by Johnson & Johnson Consumer Inc. Zarbee's Naturals is majority owned by the Growth Fund of L Catterton in partnership with various minority owners including Sorenson Capital. The transaction is expected to close during the third quarter of 2018.
Zarbee's Naturals was founded in 2008, driven by a pediatrician's quest for a drug-free children's cough syrup. Over the last decade, Zarbee's Naturals has grown into a broad-based health and wellness brand and has disrupted the cough, sleep, immune support and vitamin categories with its portfolio of natural, better-for-you products. The company has established itself as the number one pediatrician-recommended cough syrup brand for children 10 and under and continues to focus on creating wholesome wellness products for the entire family.
Johnson & Johnson Consumer Inc. to acquire
Neogen acquires water microbiology testing technology
Neogen Corporation announced that it has acquired Clarus Labs, Inc. The acquisition provides Neogen products, and greater access to the $400 million global water microbiology testing market.
The acquisition includes the patented Colitag water test, which detects dangerous coliform bacteria (i.e., bacteria normally found in the intestine), including E. coli, in water. Colitag also detects coliforms that have been weakened, but not killed, by inadequate water treatment efforts — including microorganisms capable of causing human illness.
“Neogen has offered Colitag to the food and beverage industries in the United States and Canada through a distribution agreement since 2004. This acquisition reverses that agreement, as we take ownership of the technology and work with a sister company to distribute the technology to markets outside of our traditional markets — including municipal water departments,” said Dr. Jason Lilly, Neogen’s vice president of corporate development. “The technology represents an extremely good fit for Neogen. The advanced water test is a practical safety solution for our thousands of existing worldwide food safety customers, including many large water bottlers, and provides a substantial opportunity in our international markets.”
US Foods Holding Corp. and Services Group of America announced that they have entered into a definitive agreement under which US Foods will acquire five operating companies collectively known as SGA’s Food Group of Companies, for $1.8 billion in cash.
Headquartered in Scottsdale, Arizona, SGA’s Food Group of Companies has combined 2017 net sales of $3.2 billion and approximately 3,400 employees. SGA’s Food Group of Companies currently operates as five separate operating companies:
Food Services of America, Inc. (FSA): One of the largest regional broadline distribution companies in the U.S. serving 16 states in the West and Midwest from nine distribution centers; 75% of net sales;
Systems Services of America, Inc. (SSA): Multi-unit distribution foodservice company specializing in distribution to casual and fast casual dining establishments and regional and national QSR chains; 21% of net sales;
Amerifresh, Inc.: Strong produce sourcing and marketing capabilities, 2% of net sales;
Ameristar Meats, Inc.: Provider of custom meat products, including 18 different beef programs to meet customer specifications; 1% of net sales; and GAMPAC Express, Inc: Supply chain planning and logistics; 1% of net sales.
These five operating companies together deliver superior solutions for the diverse customers served by SGA’s Food Group of Companies. FSA has a strong focus on serving independent restaurants, which account for approximately 40% of its net sales base, and employs a forward-thinking approach to technological leadership to serve customer needs.
US Foods will acquire five operating companies collectively known as SGA’s Food Group of Companies,
for $1.8 billion
United Natural Foods, Inc. and SUPERVALU INC. announced that they have entered into a definitive agreement under which UNFI will acquire SUPERVALU for approximately $2.9 billion, including the assumption of outstanding debt and liabilities.
"This transaction accelerates UNFI's "Build out the Store" growth strategy by immediately enhancing our product range, equipping us to bring an attractive, comprehensive product portfolio to an expanded universe of customers," said Steve Spinner, UNFI's Chief Executive Officer and Chairman.
"Combining our leading position in natural and organic foods with SUPERVALU's presence in fast-turning products makes us the partner of choice for a broader range of customers. Together, we can provide our "better for you" products as well as other high-growth segments, improving customers' competitive advantages in a dynamic marketplace.
UNFI will acquire SUPERVALU for approximately
US$ 3 billion
Dole Food Company announced that owner David H Murdock has completed the sale of a 45% equity stake in Dole Food Company to Total Produce plc, the leading European produce company, headquartered in Dublin, Ireland. This follows the European Commission (the “EC”) approval of the transaction.
"I am excited for the future of Dole in our relationship with Total Produce. They have a long and successful history in the produce industry, and I have complete confidence that as the premier produce brand, Dole will be able to tap that expertise in growing our position worldwide," said David Murdock. “Both Dole and Total Produce have a standard of perfection that leads the industry in innovation, together we will further our joint mission of providing the highest quality produce to the world."
Dole Food Company has completed the sale of a 45% equity stake to Total Produce plc
Deere to acquire sprayer and planter manufacturer
Deere & Company has signed a definitive agreement to acquire PLA, a privately-held manufacturer of sprayers, planters, and specialty products for agriculture. PLA is based in Argentina, with manufacturing facilities in Las Rosas, Argentina, and Canoas, Brazil.
"The PLA acquisition enhances John Deere's commitment to customers as we continue to provide innovative, cost-effective equipment, technology, and services to improve their productivity," said John May, President, Agricultural Solutions & Chief Information Officer at Deere.
Founded in 1975, PLA was the first company to manufacture self-propelled sprayers in Latin America and has brought innovative solutions to its customers ever since. The company has approximately 450 employees and currently markets products on four continents.
Deere & Company, is a world leader in providing advanced products and services and is committed to the success of customers whose work is linked to the land – those who cultivate, harvest, transform, enrich and build upon the land to meet the world's dramatically increasing need for food, fuel, shelter and infrastructure. Since 1837, John Deere has delivered innovative products of superior quality built on a tradition of integrity.
DFA invest in MOPRO
In an effort to drive demand for dairy and support industry growth, Dairy Farmers of America (DFA), a national cooperative owned by dairy farm families, is helping bring innovative products to the dairy case. This week, the Cooperative announced an investment in MOPRO Nutrition (MOPRO), an all-natural, high protein, low sugar, whole milk Greek yogurt infused with whey protein combined with probiotics. MOPRO positions itself as a smarter replacement for protein bars, protein shakes and regular Greek yogurt.
MOPRO recently completed the 2018 Sprint Accelerator program, which is also sponsored by DFA. The Accelerator is a 90-day, immersive program that helps accelerate and grow startup businesses.
“As a farmer-owned Cooperative, DFA is continuously looking for innovative ways to bring dairy to consumers, and this investment in MOPRO reflects that commitment,” says Monica Massey, senior vice president and chief of staff at DFA. “We think there’s a lot of growth potential with more natural, high-protein products and look forward to working with MOPRO to help make them a household brand.”
China Resources Beer Company Limited, together with its parent, CBL, announced , through CRE Heads of Terms entered into between CRE and Heineken, have formed a strategic partnership for mainland China , Hong Kong and Macau through below items: (i) the allotment by CBL to the Heineken Group of such number of new CBL shares as will represent 40% of the issued share capital in CBL as enlarged and on a diluted basis at a total cash consideration of approximately HK$24.35 billion; and (ii) the acquisition by CRE of approximately 5.2 million Heineken N.V. shares (equivalent to an approximate 0.9% shareholding in Heineken N.V.) which are currently held in treasury at a total cash consideration of approximately €463.63 million.
CR Beer has also entered into Heads of Terms with Heineken for the establishment of a strategic partnership. Under the Heads of Terms, Heineken Group will license the exclusive rights to use the Heineken brand in mainland China, Hong Kong and Macau. Heineken will combine its China business with CR Beer at cash consideration of around HK$2.35 billion (on a debt-free and cashfree basis at completion). Concurrently, the Company and Heineken will also enter into framework agreement to accelerate the international growth of the Company's beer brands and to govern the use of other premium brands owned by the Heineken Group which may be licensed to the Company in mainland China, Hong Kong and Macau.
US$ 3.1 billion tie-up with China Resources Beer
Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden and part of the Radisson Hotel Group, is proud to announce the signing of the Radisson Hotel & Suites, Gdańsk in Poland. In March 2018, the group announced its plan to rollout Radisson, the upscale hotel brand, across EMEA – and this is the first hotel to open in Central & Eastern Europe (CEE). The new Radisson will bring the group’s portfolio to 16 hotels (3,500+ rooms) in operation or under development in Poland.
The upscale, full-service hotel will deliver Scandinavian-inspired hospitality and complement our Radisson Blu hotel in Gdańsk, ranked as the third most visited city in Poland based on airport arrivals, and a popular summer destination for leisure travelers, including families.
Gdańsk is an important industrial and economic center on the Baltic Coast in the north of Poland, and a vital part of the Tri-City metropolitan area – a region that generates a significant portion of the nation’s GDP and has seen a major rise in tourist arrivals in recent years. It’s also one of the most rapidly developing urban and business centers in the country, with a fast-growing MICE sector making the city a key location for business travelers.
Radisson Hotel Group announce the signing of the Radisson Hotel & Suites, Gdańsk in Poland
Noble Investment Group announced the acquisition of the Residence Inn by Marriott Secaucus Meadowlands. The all-suite, extended stay hotel, which opened in March 2015, is located in Secaucus, New Jersey, three miles from New York City via the Lincoln Tunnel.
Secaucus, New Jersey is marked by a highly dense and affluent residential population, Class A office and strong leisure demand. The hotel is located within the Plaza at Harmon Meadows, a mixed-use development which features 30 restaurants and shops, a 14-screen AMC Theatre, the 61,000 square foot Meadowlands Exposition Center and more than two million square feet of Class A office space anchored by corporate tenants such as Ernst & Young, Quest Diagnostics and Oracle. In early 2019, the American Dream Mall will enter the market as the largest mall in the United States with 4.8 million square feet of retail. The hotel is also conveniently located to the Meadowlands Sportsplex, which includes MetLife Stadium and Meadowlands Racetrack.
"The Residence Inn by Marriott Secaucus Meadowlands affords Noble the opportunity to acquire a newly-built asset, well positioned to experience significant future growth," said Noble principal, Ben Brunt.
Noble Investment Group acquires Residence Inn by Marriott Secaucus Meadowlands
IHG becomes UK’s leading luxury hotel operator
IHG® has confirmed the UK debut locations for its boutique brand Kimpton® Hotels & Restaurants and its recently launched upscale brand, voco™ Hotels. This move follows the announcement made in May of an agreement with Covivio (formerly Foncière des Régions), to rebrand and operate 12 high-quality open hotels in the UK and one pipeline hotel. Nine of the hotels join IHG’s brand portfolio today, making IHG the UK’s leading luxury hotel operator. The remaining three open hotels are expected to join IHG's portfolio in Q3 2018.
Kenneth Macpherson, Chief Executive Officer, EMEAA, IHG commented: “I am delighted to be able to confirm the UK debut locations for Kimpton® Hotels & Restaurants and our new upscale brand, voco™ Hotels. By launching these brands in prime city centre and destination locations around the country we will give our guests even greater choice. The expansion of our global footprint in high-growth luxury and upscale segments is gaining momentum, with IHG now the leading luxury operator in the UK.”
WoodSpring Suites expands presence in Charlotte with Two New Hotels
Choice Hotels International, Inc. one of the world's largest hotel companies, in collaboration with Brookwood Hotels and Nationwide Hotel Management Company, opened the WoodSpring Suites Charlotte Northlake and WoodSpring Suites Charlotte Matthews. The properties are located at 9420 Statesville Road in Charlotte, N.C. and 1424 Matthews-Mint Hill Road in Matthews, N.C., respectively, and are poised to benefit from the region's increasing growth, employment and business opportunities.
"Charlotte is the largest city in the Carolinas and home to some of the country's most distinguished financial institutions, medical centers, and universities, each of which generates a healthy demand for extended stay accommodations," said Ron Burgett, vice president, franchise development, WoodSpring Suites, Choice Hotels. "Our collaboration with Brookwood Hotels continues to grow with the opening of these properties, and we cannot wait for guests to experience these hotels and the essential amenities the brand offers."
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