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Briefs

Restoration Hardware is going private

By Times staff and wires
Published November 10, 2007

CORTE MADERA, Calif. - Struggling Restoration Hardware Inc., a home furnishings retailer with 100 stores including one in Tampa's Old Hyde Park Village, is being taken private by its management with backing from Catterton Partners. The price is $267-million, or more than double what the company's stock was trading for when the deal was announced. After losing $29-million in 2005, Restoration was confronted with the housing slump-induced troubles sweeping through the home furnishings industry. The company earned $3-million last year on sales of $713-million. Catterton is among the private equity funds that joined to buy OSI Partners Inc. of Tampa.

Westfield adding to mall portfolio
SYDNEY, Australia  - Westfield Group, an Australian mall operator that owns three regional malls in the Tampa Bay area, has built its Florida portfolio to seven properties. Westfield on Friday said it acquired Broward Mall in Plantation and Westland Mall in Hialeah. Prices were not disclosed.

Tech group honors industry achievers
TAMPA - Five organizations and a local executive walked away with top honors at the fourth Tampa Bay Technology Forum industry achievement awards. Winners include Idatix, emerging company of the year;IC Intracom, innovation of the year; UTEK Corp., professional services company of the year; Eclipse Energy Systems Inc., quantum leap technology of the year; and Syniverse Technologies, community outreach honoree. Eric Williams, of Catalina MarketingCorp. in St. Petersburg, was named chief information officer of the year. The awards were announced Thursday.

UAW locals okay contract with Ford
DETROIT - United Auto Workers locals in Michigan and Illinois overwhelmingly approved a new contract with Ford Motor Co., the local union presidents said Friday. Voting on the pact will continue through the weekend. The agreement was reached in the early morning hours of Nov. 3.

Brown wants some more green
ATLANTA - UPS, the world’s largest shipping carrier, said Friday it will increase rates for ground, air express and international shipments that originate  in the United States by an average 4.9 percent, effective Dec. 31.

[Last modified November 9, 2007, 23:22:14]