Peet’s Coffee & Tea expanding to Kailua
Peet’s Coffee & Tea plans to open a cafe in Kailua early next year.
The California-based coffee and tea brand and cafe chain has two locations on Oahu, both at the Sheraton Waikiki Hotel.
Its new, 648-square-foot Kailua space, at 143 Hekili St. near Crepes No Ka Oi and Splash! Hawaii, will undergo renovations beginning in November, the company said in a statement.
"Kailua is the No. 1 area we’ve wanted to get into for years," said Chipper Pastron, Hawaii’s licensed partner for Peet’s.
It is the first of the stores he and partners Sal Casola Sr. and Jr. will have that will become "part of a community."
The Kailua location will sell breakfast sandwiches and pastries in addition to coffees, teas and blended drinks.
Company founder Alfred Peet opened his first store in Berkeley, Calif., in 1966.
Safeway to unveil fourth Maui store
Safeway’s Maui Lani store in Wailuku will open Friday.
Measuring 59,000 square feet, the grocery store at 58 Maui Lani Parkway is the chain’s 21st store in the islands and fourth on Maui.
The store will open 24 hours a day and include an in-store pharmacy, Bank of Hawaii branch, Starbucks Coffee counter and free wireless Internet service.
Kaiser opens rehab clinic in Wailuku
Kaiser Permanente Hawaii opened Monday a rehabilitation clinic in Wailuku on Maui.
The 9,000-square-foot Maui Lani Elua clinic offers rehabilitation services including neurology, occupational health services, occupational therapy, physiatry and physical therapy to members throughout Maui County.
The state’s largest health maintenance organization spent $7.2 million to build the rehabilitation specialty center.
The facility at 75 Maui Lani Parkway is open Monday through Friday from 8 a.m. to 5 p.m. For information, call 243-6040 or go to kp.org.
Recycling firm has new center near UH
Reynolds Recycling Inc. has opened a new state-certified redemption center on University Avenue, bringing its current redemption network to 40 locations.
The University Avenue Redemption Center is in the Varsity Building parking lot, at 1106 University Ave. The new center replaces the previous location on University Avenue and has expanded days of operation. The new University location is now open every day, from 9 a.m. to 5 p.m. This HI-5 Redemption Center also buys nonferrous scrap metals, such as aluminum, copper, brass and stainless steel.
For information on other locations, call 487-2802 or visit www.reynoldsrecycling.com.
Financially ailing Billabong swaps rescuers
Billabong International Ltd., the Australian surfwear company whose namesake brand is worthless, accepted a refinancing plan from Oaktree Capital Management LP and Centerbridge Partners LP, walking away from a rival deal.
The agreement provides Billabong with longer-term debt at a lower interest rate and allows it to repay a $294 million bridging loan from the group led by Altamont Capital Partners, the Gold Coast, Australia-based company said in a statement.
Worth almost A$4 billion ($3.8 billion) at its peak in 2007, Billabong’s market value tumbled to just A$216 million as of Wednesday. Billabong, which struggled amid competition from major chains and a consumer spending slump, has fielded takeover or refinancing offers almost constantly since May 2012.
"They can fund themselves a lot more cheaply and with a lot more clarity now," Evan Lucas, a market strategist at IG Markets in Melbourne, said by phone. "The next question is, Where is the income going to come from, and are they going to compete going forward?"
Billabong shares rose 6.7 percent to 48 Australian cents at 11:20 a.m. in Sydney, their highest level in more than two weeks.
Formed in 1973 by surfer Gordon Merchant, Billabong said last month its annual losses tripled to A$860 million after store closures, firings and a breach of debt terms.
Billabong’s merchandise is sold throughout Hawaii.
Under the terms of the package, Oaktree and Centerbridge will lend up to $360 million to the surfwear company for six years at a fixed rate of 11.9 percent.
ON THE MOVE
Riette G. Jenkins has been named president of Realtors Association of Maui. She has been a Realtor since 1988 and has been affiliated with Coldwell Banker Island Properties in Wailea for 11 years.
Aqua Hospitality has announced appointments in its sales and marketing departments:
» Justin Nakaahiki has been promoted to senior marketing manager. He was previously Aqua’s marketing manager.
» Peter Sheehan has been promoted to contract sales manager from assistant contract sales manager.
» Jacqueline Emery is the new assistant contract sales manager. She has 17 years of sales experience, including 11 years as assistant sales manager at Pacific Beach Hotel.
