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KeyTronic acquires Ayrshire Electronics for $46.9M

Spokane, Washington-based Key Tronic Corp. closed on a deal to buy CDR Manufacturing, otherwise known as Ayrshire Electronics, for $46.9 million in cash. Ayrshire has a manufacturing facility in Corinth, which is unaffected by the move. The facility employs 186 people. “Ayrshire Electronics has been a great partner and growing employer in Corinth,” said Gary […]

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Posted in Business news, Corinth, Economic development, Employment and jobs, Manufacturing, Mergers & acquisitions, National, Northeast Mississippi1 Comment

02171103 BancorpSouth

BancorpSouth pulls merger applications, expects to refile

BancorpSouth withdrew its applications to merge with two banks, but in a regulatory filing today said it expects to “subsequently refile.” Last month, the company said it needed additional time to complete its mergers with Ouachita Bancshares Corp. of West Monroe, Louisiana, and Central Community Corp. of Temple, Texas. BancorpSouth had announced the deals in […]

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Posted in BancorpSouth, Banking & Finance, Business news, Mergers & acquisitions, National, Tupelo0 Comments

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Dollar Tree buying Family Dollar for a lot of dollars

Dollar Tree  is acquiring rival Family Dollar Stores in a deal that will create the largest operator of dollar stores in North America. The estimated $8.5 billion deal, a cash and stock transaction, is expected to close somewhere in 2015. The deal will create a business with more tun 13,000 stores in 48 states as well as […]

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Posted in Business news, Mergers & acquisitions, National, Retail News0 Comments

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BancorpSouth mergers delayed until next year

BancorpSouth will have to wait until next year to complete its mergers with two banks. The company said Monday it needed additional time to complete its mergers with Ouachita Bancshares Corp. of West Monroe, Louisiana, and Central Community Corp. of Temple, Texas. BancorpSouth had announced the deals in January and had expected their completion by […]

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Posted in BancorpSouth, Banking & Finance, Business news, Mergers & acquisitions, Northeast Mississippi, Tupelo0 Comments

Tupelo is home to an OfficeMax store.

Office Depot to close 400 stores, including some OfficeMax locations

Last year Office Depot completed its merger of OfficeMax, and today, it announced it would close 400 stores nationwide. The list of stores – which hasn’t been made – will include both Office Depot and OfficeMax stores in markets that overlap. The good news, at least in Tupelo, is that there’s an OfficeMax store in town, […]

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Posted in Business Closures, Business news, Mergers & acquisitions, National, Northeast Mississippi, Retail News, Tupelo0 Comments

BancorpSouth Insurance acquires Louisiana agency

BancorpSouth Insurance  Services has acquired Lafayette, La.-based Knox Insurance Group.  In December, BancorpSouth Insurance, a subsidiary of BancorpSouth Inc., acquired GEM insurance agencies of Houston, Texas. Terms of the Knox deal were undisclosed, and BancorpSouth said the deal was expected to close “immediately.” Said BancorpSouth: The Knox acquisition gives us an opportunity to meaningfully expand […]

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Posted in BancorpSouth, Banking & Finance, Mergers & acquisitions, Northeast Mississippi, Tupelo0 Comments

Cooper Tire, joint-venture partner reach agreement on Chinese factory

Cooper Tire has reached an agreement with its Chinese joint venture partner , the labor union and their shared facility, Cooper Chengshan (Shandong) Tire Co., or CCT.  Cooper owns 65 percent of the plant, but its partner put a halt to a $2.2 billion merger between Cooper and Apollo Tyres  late last year after it […]

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Posted in Business news, Cooper Tire, International, Manufacturing, Mergers & acquisitions, National, Northeast Mississippi, Tupelo0 Comments

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