MERGERS AND ACQUISITIONS C2 Imaging, a newly formed affiliate of St. Paul-based Vomela Specialty Co., has completed the acquisition of C2 Media, a supplier and designer of digital and screen-printed graphic products with 250 employees and more than $40 million in revenues. Tim Wieland was named president of C2 Imaging.
Vascular Solutions Inc., Maple Grove, has acquired the assets related to the SmartNeedle and pdAccess Doppler guided needle access business from a division of Escalon Medical Corp. for $5.75 million, including $5 million in cash at closing. Another $750,000 is payable when manufacturing processes have been transferred to Vascular Solutions' Minnesota facility. Vascular Solutions also has acquired the assets related to the new VascuView TAP visual ultrasound system and will pay Escalon a one-time cash payment equal to 25 percent of the net sales of those products sold between July 1, 2010, and June 30, 2011.
debt and equities Winmark Corp., Golden Valley, approved a quarterly dividend of 2 cents per share, payable June 2 to shareholders of record on May 12.
General Mills Inc., Golden Valley, declared a two-for-one split of General Mills common stock, in the form of a 100 percent stock dividend, to be distributed beginning June 8 to shareholders of record on May 28.
Otter Tail Corp., Fergus Falls, declared a quarterly dividend of 29.75 cents per share, payable June 10 to shareholders of record May 14.
PRICING Interstate Power and Light Co., an Albert Lea, Minn.-based subsidiary of Alliant Energy Corp., plans to file a request with the Minnesota Public Utilities Commission to increase its Minnesota retail electric rates. Interstate Power's request seeks to increase annual revenues by about $15 million, or 22 percent.
H.B. Fuller Co., Vadnais Heights, will raise prices effective June 1 on its water-based, hot melt and reactive adhesives sold in North America. The increases will average between 8 and 15 percent, depending on technology. The company said the price increases were necessary because of increased supply pressures and higher than expected increases in raw material feedstocks.
PERSONNEL Christopher & Banks Corp., Plymouth, named Paul Snyder to its board of directors, increasing the number of board seats to eight.
