MERGERS AND ACQUISITIONS Famous Dave's of America Inc., Minnetonka, announced that New Mexico BBQ Inc., has purchased the right to franchise three Famous Dave's Legendary Pit Bar-B-Que restaurants in New Mexico.
NEW BUSINESS AllRegs, an Eagan-based information provider for the mortgage-lending industry, has been named the official and exclusive training provider for the National Association of Mortgage Brokers.
DEBT AND EQUITIES Best Buy Co. Inc., Richfield, declared a dividend of 14 cents per common share, payable Jan. 27 to shareholders of record Jan. 6.
RESTRUCTURING Graco Inc., Minneapolis, said it will reduce its workforce by about 150 people, or 6 percent. The company expects to take a pretax charge of $5 million related to severance and early retirement costs in the fourth quarter of 2008. The workforce reduction is expected to be complete by early 2009 and lower the company's costs $9 million. Graco also is reducing capital expenditures and discretionary spending to further control costs. The company anticipates impairment charges up to $4 million in the fourth quarter as the decline in business levels is reflected in the review of intangible assets.
Navarre Corp., New Hope, said that its wholly owned subsidiary, BCI Eclipse Co., will shut down its licensing operations in connection with a restructuring plan. The restructuring will include a workforce reduction, a writedown of assets and the incorporation of BCI's exclusively distributed DVD business into the company's distribution segment.
