Buffalo Business Report - Tuesday, November 5th 2013
East Aurora-based Astronics Corporation has purchased the French company PGA Electronic for a reported $28.5 million. It's a 60-40 cash and Astronics stock purchase, according to Business First and will be completed before January.
Confie Seguros of California has purchased DeFranco Insurance Agency, Inc. of Niagara Falls, along with Insurance Group of America, doing business as City Insurance of Palm Springs, Florida. No financial terms were announced.
Maple syrup collected from trees flowing to the "Sugar Shanty" at the Erie County Bureau of Forestry will be sold as part of Citymade's "Made in Buffalo" gift baskets. Those baskets combine regional food favorites.
UB and the Hauptman-Woodward Medical Research Institute will lead the creation of a major research center. That's been made possible by a $25 million federal grant.