Our summary of the latest Wellesley, Massachusetts business news:
Vanguard Renewables bought out for $700M, reporting making Weston move
Vanguard Renewables, a Wellesley-based company whose products turn food and animal waste into natural gas, has been acquired by BlackRock Real Assets for $700 million.
In a press release that oddly overstates the price, the company says the deal “will drive its next phase of growth, including plans to order more than 100 anaerobic digesters for renewable natural gas production nationwide by 2026. Read also : Netflix is trying to keep its latest subscribers.” The company works with farms to turn organic matter into fuel.
The deal technically involved the acquisition of Vanguard from Vision Ridge Partners.
A Boston Globe report on the deal said the company plans to move its headquarters from Walnut Street in Wellesley to a larger office in Weston this fall.
KeNo for now
The Wellesley Select Board this week heard an application for a Keno gaming license from the owner of the Shell gas station and convenience store at 987 Worcester St. See the article : There are several reasons why high -tech companies lay off employees., Rte. 9. Keno is a lottery-like game of chance that is more commonly seen around here in bars than gas stations or convenience stores.
Shell Station owner Sami Hamze already offers a simple version of the game called Keno to Go, but is looking for a more complete version that includes a monitor. The Massachusetts State Lottery licenses Keno, but Hamze asked the city for permission to install a monitor and possibly seating. The addition, he said, would mean more foot traffic and revenue for his business and more revenue for the city.
Meghan Jop, Wellesley’s executive director, said the city’s zoning bylaw has had a rule prohibiting streaming gambling since 1996. “It would be difficult to approve,” he said.
Hamze said he is aware of two local businesses that have or have had such monitors and understood that such monitors may only be allowed if the business is a restaurant with a liquor license. Regardless of whether this is true (and it may be worth the city’s investigation), Hamze’s plan would not warrant board approval.
Select board member Ann-Mara Lanza suggested that Hamze could consider filing a citizen petition to amend the bylaws. “I have no idea if Town Meeting would be receptive or not,” he said.
Chairman of the board Tom Ulfelder assured Hamze that the group does not want to hinder the company from creating opportunities.
The board denied the license but has added an item to its July 26 meeting agenda to discuss and vote on sending Keno to the Zoning Planning Board for review.
Stay Fashion Boutique opens on Rte. 135 in Natick
We had the pleasure of meeting Regiane de Araujo when we spotted a new women’s and girls clothing store in Natick called Stay Fashion Boutique. Read also : NBCUniversal, Google’s leading campaigner to partner with Netflix for its ad support program – WSJ. Learn more about this store, which plans to expand beyond its original Brazilian-inspired merchandise.
