Supervalu Execs to Walk Away With Millions
Supervalu executives will likely receive lots of dough when they leave their jobs as part of the recent sale to Cerberus Capital Management.
According to KSTP.com, a Bloomberg report stated four executives from the Eden Prairie-based grocer will likely share nearly $23 million when they leave the company.
As previously reported by Patch, Supervalu reached a definitive agreement in early January to sell off stores under five brands and two related in-store pharmacy brands as part of a $3.3 billion agreement with Cerberus. Those brands included Albertsons, Acme, Jewel-Osco, Shaw's and Star Market.
Taste of Eden Prairie Scheduled for February
The annual Taste of Eden Prairie event begins at 6 p.m. Feb. 23 at the Minnesota Vikings practice facility at 9520 Viking Dr.
The event features more than 25 area restaurants, and silent and live auctions. The event raises funds for the Foundation for Eden Prairie Schools, with the mission to support and enhance the legacy of excellence in Eden Prairie Schools.
See more here.
California Company Purchases Eden Prairie M-U Community
Newport Beach, CA-based KBS Legacy Partners Apartment REIT confirmed it's purchase of Eden Prairie's Watertower Apartments.
According to an article on the Commercial Property Executive's website, Watertower Apartments is a 228-unit, mixed-use complex. The three-story building features 28 residential units and 10,065 square feet of ground-floor retail space, while the four-story building features 200 apartment units above a two-level underground parking garage.
Hartfiel Announces New President
Eden Prairie-based Hartfiel Automation, Inc. recently promoted Patrick L. Schusted, the company's current vice president of sales and marketing, to president.
Schusted will succeed Myron J. Moser, the company's current CEO and president since 1995. Moser will stay on as CEO.
According to a press release, Schusted has been with Hartfiel since 2005 joining the company as an outside sales representative.
MTS Wins Innovation Award in China
Eden Prairie-based MTS, a global supplier of high-performance test systems and position sensors, announced it was among 15 companies to receive the 2012 Green Environment-Protection Company Award in China.
According to a press release, MTS President and CEO, Dr. Jeffrey Graves, accepted the award at the 2012 China Economic Summit Forum and 10th China Top Economic Person of the Year Ceremony held in Beijing on January 13, 2013.
Recent Eden Prairie business news:
- Cerberus Says It's Close to Deal with Supervalu
- Supervalu Settles Suit Against Ex Executive: Eden Prairie Business Roundup
- Eden Prairie 3D Printing Company Stratasys Plans Merger
- Stratasys Printers Turn Concepts Into 3D Models
- D'Amico & Sons Closes After Problem With Lease