Carlson board approves moves
Carlson Cos., which is selling its casual restaurant chain TGI Fridays, will use part of the proceeds to buy back the 45 percent stake in Carlson Wagonlit Travel from JPMorgan Chase & Co.
Both moves were approved by Carlson’s third-generation family members who are on the board and indicate that the family is committed to long-term family ownership. Carlson’s third-generation family members now have four of the 11 board seats.
Tom Hubler, founder of the family consulting firm Hubler for Business Families, told the Star Tribune: “They have a strategic sense of where they want to go and what they want to develop.”
Tennant to hit sales goals early
Joe Maxa, a senior research analyst for Minneapolis-based Dougherty & Co., upgraded his rating on the Tennant Co. last week, going from a “neutral” to a “buy.”
Maxa believes the company will achieve its $1 billion sales target earlier than its original 2017 date.
“The company is investing for growth, streamlined its manufacturing operations, has a robust new product pipeline (core offerings and new products), and an experienced management team to keep it on track,” he wrote.