Business Digest

St Louis Post-Dispatch (MO), March 9, 2013 | Go to article overview

Business Digest


Angell buys FAMCO Piper Jaffray, an investment bank based in Minneapolis, said Friday that it will sell its Clayton-based Fiduciary Asset Management LLC, known as FAMCO, for $4 million. The buyer is FAMCOs chief executive, Wiley Angell, who also is one of the firms founders. Piper Jaffray and Angell began talks to facilitate a transition of the remaining business, the bank said. Angell said in a statement that we are excited about returning to our roots as an independent company. Piper Jaffray said it expects the sale to close in the second quarter of 2013. (Tim Bryant)

Graniterra downsizes Graniterra a longtime kitchen and bath designer on South Kingshighway in St. Louis is closing its Town and Country store and moving everyone back to The Hill location. A company official said the decision was prompted by the high vacancy rate at the Manchester Meadows shopping center. Kelly Gapsch, Graniterras office manager, said the business has become a bit isolated at the center, from which Walmart relocated a few years ago. The company will operate out of its city location only, beginning March 18. A spokesman for RPAI, which operates Manchester Meadows, said the company will look into the Graniterra situation. (Tim Bryant)

Imperial Headware to come to Missouri A company known for making sports caps sold around the world is closing its manufacturing facilities in Aurora, Colo., at the end of the month and moving to Missouri. Spokesman Kelly Long says Imperial Headwear will move as a result of the company being acquired by Paramount Apparel International Inc. The move to Winona, Mo., is expected to cost about 120 jobs in Colorado. Winona is about 125 miles southwest of St. Louis. According to the Denver Post, Paramount Apparel, based in Bourbon, Mo., will keep about 35 positions in Aurora, mostly its sales department, creative group and customer service department.

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