Amazon buys European movie rental service Lovefilm
New York City — Amazon.com said Thursday it is buying Lovefilm, a European movie rental service akin to Netflix, according to a report by the Associated Press.
Terms of the acquisition were not disclosed.
Lovefilm operates in the United Kingdom, Germany, Sweden, Norway and Denmark. Much like Netflix, it is a subscription-based service through which people can rent movies by mail or watch them on TV or any other device with a high-speed Internet connection. The company also offers TV shows and games.
Amazon already has an on-demand service that lets people rent movies by streaming. However, it does not send movies in the mail, as Lovefilm and Netflix do.
Arby’s chain to be sold
Dublin, Ohio — Wendy’s/Arby’s Group said Thursday it plans to sell off its struggling Arby’s quick-serve chain to focus on the Wendy’s hamburger business.
The two fast-food chains were combined when Triarc Cos., Arby’s parent, bought Wendy’s for $2.2 billion in 2008 to create the third-largest publicly held fast-food chain.
Arby’s generated about 30% of the company’s sales in its third quarter.
At least one analyst feels the sale could bring in $400 million to $600 million.
Save-A-Lot breaks ground on new DC
Lexington, N.C. — Grocery retailer Save-A-Lot announced Thursday it will break ground on a new 325,000-sq.-ft. food distribution center in Lexington, N.C.
The center is expected to open by December 2011. It is the result of collaboration with the state of North Carolina and its One North Carolina Fund, the North Carolina Department of Commerce, Davidson County and the City of Lexington.
“With this project, Save-A-Lot plans on investing more than $24 million in Lexington over the next three years,” said Bill Shaner, Save-A-Lot president and CEO.
Save-A-Lot, a division of SuperValu, operates more than 1,200 stores in 39 states, and has identified plans to double the number of stores it operates nationally over the next five years. Currently, there are 24 Save-A-Lot stores in North Carolina, including one in Lexington, with plans to open an additional three stores by March, as well as two additional stores in South Carolina. The new distribution center will help support the company’s growth plans in North Carolina and the surrounding area, which the company has identified as a key region for growth.