Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, March 4, 1993 TAG: 9303040327
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Ferguson, Andrews opens in LynchburgFerguson, Andrews & Associates has opened its fourth financial services office in a downtown Lynchburg location. David J. Capps, a veteran of 10 years in the brokerage business, will be the manager.
T. Michael Smith, president, said the securities brokerage and merchant banking company eventually may open five or six other offices. From its Liberty Trust Building headquarters in downtown Roanoke, the company operates offices in Falls Church and Richmond. - Staff report
\ H&C Coffee buys N.C. distributor
H&C Coffee Co. Inc. of Roanoke has bought a coffee distribution company that serves the Greensboro/Winston-Salem/High Point, N.C., market.
The purchase of Kerski Inc. adds more than 200 customers to H&C, said Chris Stave, president of the Roanoke company.
Stave said H&C has a distribution center in North Carolina, but most of the support for the new territory will come from the Roanoke operation.
H&C employs 12 people companywide. It has company-owned routes from Wytheville to Lynchburg and independent distributors operating H&C routes in the Rocky Mount-Danville area. - Staff report
\ Revco purchases 12 Begley drugstores
Revco D.S. Inc. said Wednesday it has agreed to buy and operate as Revco drugstores 12 Begley drugstores in eastern Tennessee and Western Virginia.
It also will buy the pharmacy files of the nine other Begley stores and consolidate them into nearby Revco stores.
Begley stores in Knoxville, Kingsport, and Oak Ridge, Tenn., and in Bristol, Harrisonburg, Norton, Big Stone Gap and Staunton will become Revco stores. Other Begley stores will close in Kingsport and Oak Ridge, Tenn., and in Lynchburg, Danville and Bristol. The transactions are to be complete by early next week.
Revco also signed a sales agreement to acquire nine North Carolina drugstores owned by Begley Drug Stores Inc. of Morganton, N.C.
The Begley company will go out of existence with the purchase, said a spokesman in its Knoxville, Tenn., offices. The company began in 1990 when it bought the former Eckerd stores. - Staff report
\ Briefly . . .
\ NationsBank Corp. said Wednesday it has formed a new lending unit to target small businesses and expects to make more than $1 billion in new loans through 1996. The company's business banking division will lend to small businesses with annual revenues of up to $4 million. The loans are primarily for short-term working capital, expansion, the purchase of equipment and real estate occupied by the business.
\ Chesapeake Corp., Richmond-based forest products company, said Wednesday it is offering $85 million of its 7.2 percent debentures due March 15, 2005. Proceeds from the sale will be used to redeem the $50 million outstanding principal balance of the company's 9.375 percent notes due March 15, 1996, which are redeemable at par on March 15.