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Monday, Mar 18, 2024
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Regional Report

SAN DIEGO

New 7-Eleven Store on Navajo Road

Eddie Georgees is the franchisee of a newly built 7-Eleven convenience store at Navajo Road and Jackson Drive in the San Carlos neighborhood of San Diego.

7-Eleven counts 6,925 stores in the United States.

7-Eleven Inc. is privately held. Since late 2005 it has been a subsidiary of Tokyo-based Seven-Eleven Japan Co. Ltd.

— Brad Graves

SANTEE

Manzanita Brewing Partners With Crest Beverage

Craft beer maker Manzanita Brewing Co. of Santee has entered into an agreement with San Diego-based Crest Beverage Co., to distribute Manzanita’s products countywide.

Financial terms were not disclosed in a statement from Manzanita. This is the two-year-old Manzanita’s first distribution agreement.

Crest Beverage will distribute all of Manzanita’s beers, including Riverwalk Blonde, Rustic Red Horizon and Gillespie Brown, as well as its specialty ales.

Crest Beverage is part of Illinois-based Reyes Holdings LLC, which owns several regional companies through its Reyes Beverage Group and is among the nation’s largest beer distributors.

— Lou Hirsh

CARLSBAD

Freedom Meditech Secures $2M Line of Credit

Opthalmic products developer Freedom Meditech Inc. of San Diego plans to use a recently secured $2 million line of credit from Silicon Valley Bank to ramp up manufacturing and distribution of its ClearPath DS-120 Lens Fluorescence Biomicroscope.

The ClearPath DS-120, which is currently under regulatory review in the U.S. and European Union, is designed to evaluate the crystalline lens of the human eye in order to detect chronic disease such as diabetes.

“SVB’s due diligence on our ClearPath DS-120 showed a strong mix of proven technology, market opportunity and just how far we have come in reducing manufacturing, regulatory and marketing risk for the product,” said Craig Misrach, chairman and CEO of Freedom Meditech. “The financing provided by SVB is a springboard to launch this new and exciting product in the global health care marketplace.”

Terms of the credit facility include an initial disbursement with additional funds available upon attaining certain milestones. The transaction comes as the company waits for its Series B financing round to close.

— Julie Gallant

OCEANSIDE

Newest Tin Fish Opens Under Pier

Locally based Melluso Enterprises Inc., led by founder Joseph Melluso, recently opened its 12th location of The Tin Fish seafood restaurant under the Oceanside Pier. The location at 302 N. The Strand is co-owned by Mike and Sun No, according to a statement.

This is the fourth local location for the restaurant, which is also in Point Loma, Imperial Beach and downtown San Diego. The company also has restaurants in Florida, Indiana and Minnesota.

Restaurant operators occupied the newest site, which formerly housed McDonald’s, under a 10-year lease with the city of Oceanside.

— Lou Hirsh

CHULA VISTA

New BevMo! Store On Otay Lakes Road

BevMo!, the national discount liquor retailer, opened a new store located at 2237 Otay Lakes Road, next to Lowe’s last month.

The new store has 7,500 square feet and features a selection of 1,800 wines, 1,600 spirits, 1,800 beers and many food items, mixers, and bar accessories, the company said.

To publicize the opening, the store, the 122nd in the chain, handed out goody bags to the first 500 customers to enter when it opened, the company said.

BevMo! also operates stores in La Jolla, Mission Valley, Point Loma, and La Mesa.

— Mike Allen

EL CAJON

DaMar Plastics Invests $500,000 in New System

DaMar Plastics Inc., a customs injection manufacturer that moved to a larger plant here from San Diego in July, said it’s investing about $500,000 in equipment for a complete system for making one to three liter bottles for commercial use. The system is expected to be operating in January.

Besides the blow molding business, DaMar also has clean room capabilities at its expandable 55,000-square-foot plant, said Sal Acampora, vice president of sales.

The business has customers in the medical, chemical, industrial, and military markets. It employs between 35 and 50 workers, and should finish this year with sales of about $3.5 million, up from last year’s sales of $3 million, Acampora said.

— Mike Allen

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