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Business
CT-Based Subway Announces Sale: Company Has 'Bright Future,' CEO Says CT-Based Subway Announces Sale: Company Has 'Bright Future,' CEO Says
Ct-based Subway Announces Sale: Company Has 'Bright Future,' CEO Says The iconic sandwich seller Subway, which is headquartered in Connecticut, has announced its sale to a private equity firm.  The New Haven County-based fast food company, which is headquartered in Milford, announced that it will be acquired by affiliates of Roark Capital on Thursday, Aug. 24.  In a statement, Subway officials said the sale would be a "major milestone" in the company's history. "This transaction reflects Subway's long-term growth potential, and the substantial value of our brand and our franchisees around the world," said Chief Executive Officer John Chid…

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by Ben Crnic
Business
Energy Firm In Norwalk Cuts Jobs, Accepts $436M Buyout Energy Firm In Norwalk Cuts Jobs, Accepts $436M Buyout
Energy Firm In Norwalk Cuts Jobs, Accepts $436M Buyout A Texas-based energy company is poised to become the nation’s largest residential electricity provider after making a deal to purchase Norwalk’s Crius Energy, after the company cut jobs last year. Vistra Energy and Crius Energy Trust announced this week that they have reached an agreement to pay approximately $328 million for Crius, and will assume Crius’ debt of an estimated $108 for a total of $436,000,000. Following the closing of the transaction, Vistra will be the leading residential electricity provider in the nation with operations in 19 states and Washington, D.C. The sale come…

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by Zak Failla
Business
$850M MGM Deal For Empire City Casino, Yonkers Raceway On Hold 'Until Further Notice' $850M MGM Deal For Empire City Casino, Yonkers Raceway On Hold 'Until Further Notice'
$850M MGM Deal For Empire City Casino, Yonkers Raceway On Hold 'Until Further Notice' MGM Resorts International's planned acquisition of Empire City Casino and Yonkers Raceway has been abruptly postponed. The New York State Gaming Commission was expected to approve the sale on Thursday, Jan. 3 at an 11 a.m. meeting, but announced late Wednesday The commission said the meeting was "postponed until further notice." Just days earlier, the commission had announced the meeting would be streamed live in this public notice. In May, Empire City Casino announced that it entered into an $850 million agreement with MGM Resorts to take over the racing and gaming property. No rea…

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by Daily Voice
Business
New Owner Purchases Norwalk Icon New York Bakery To Keep Store Alive New Owner Purchases Norwalk Icon New York Bakery To Keep Store Alive
New Owner Purchases Norwalk Icon New York Bakery To Keep Store Alive New York Bakery, a popular downtown destination in Norwalk for decades, was planning to close by the end of this month, but has been saved by a last-minute buyout offer. Dominic Muro’s Original New York Bakery & Deli has produced baked bread for restaurants and delis throughout the Norwalk area, to complement its popular breakfast and lunch counter. Muro took over New York Bakery from his father-in=law in 1967. The bakery moved to 52 Main St. after the flood of 1955 destroyed its earlier location on River Street. Leo Spinelli has offered to buy the bakery, with Muro accepting. On Frida…

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by Daily Voice