Honeywell Buys Majority Share

Honeywell of Morristown announced Oct. 1 it paid about $525 million to acquire a 70 percent stake in Thomas Russell Co. of Tulsa, Okla., with rights to purchase the rest. Both are manufacturing companies.

ProStrakan Buys Drug for $21.7M

ProStrakan in Bridgewater on Oct. 1 announced its acquisition of breast cancer treatment drug Fareston from GTx in Memphis, Tenn. Both are biopharmaceutical companies specializing in cancer treatment.

N.J. Warehouse Sold for $10.5M

Real estate investment firm Seagis Property Group in Conshohocken, Pa., announced on Sept. 5 it paid about $10.5 million for the industrial warehouse building at 535 Dowd Ave. in Elizabeth from soft-drink company PepsiCo. of Purchase, N.Y.

Ocean City Ministry Buys Theater

Ocean City Tabernacle, a Christian ministry in Ocean City, announced on Oct. 1 its acquisition of the Moorlyn Theater, a movie theater on the Ocean City Boardwalk. The purchase was made with gift funds from donors.

Acquisition for Steakhouse Chain

Boddie-Noell Enterprises in Rocky Mount, N.C., announced on Sept. 25 its Texas Steakhouse & Saloon restaurant chain has been acquired by Charlie Brown’s Steakhouse in Millburn. Both run restaurants.

News Brief

Smart Balance HQ to Leave N.J.

Smart Balance Inc. of Paramus, a natural and organic food maker and distributor, announced on Oct. 2 it is relocating its headquarters to Boulder, Colo., with plans to operate under the name Boulder Brands.