Skip to main content

Columbia Business Monthly

The Business Narrative: Opioid Settlement

Nov 07, 2024 10:28AM ● By Donna Walker

(123rf.com Image)

SC Attorney General, Bipartisan Coalition of 30 States Finalize Settlement With Kroger Over Opioid Crisis

South Carolina Attorney General Alan Wilson, alongside a bipartisan coalition of 30 state attorneys general, announced completion of the $1.37 billion settlement agreement with Kroger, addressing the grocery chain’s role in the opioid crisis.

 

South Carolina will receive approximately $18 million for opioid abatement, with payments anticipated to begin early next year.

 

“No amount of money can make up for the lives we’ve lost to the opioid crisis, but the money from this settlement, along with the other settlements we’ve announced, will go to treat people who are addicted to opioids,” Wilson said.

 

He added, “We will continue to go after those responsible for the opioid crisis to hold them accountable.”

 

In addition, Wilson said Kroger has agreed to injunctive relief that requires its pharmacies to monitor, report, and share data about suspicious activity related to opioid prescriptions.

 

Wilson said Kroger operates 44 grocery stores across South Carolina under its own name and its subsidiaries, including Harris Teeter.

 

Multiple media outlets have reported the company said the settlement isn’t an admission of wrongdoing or liability. 

Steady Rate of Absorption Pushes Columbia, SC, Vacancy Lower

Industrial activity continued its steady pace as the Columbia market absorbed 396,444 square feet, lowering vacancy to 4.05 percent, according to Q3 2024 Columbia industrial report from Colliers, the largest full-service commercial real estate firm in South Carolina.

 

Colliers said the Columbia region hasn’t experienced the same speculative overbuilding trend as surrounding markets with 4.1M square feet delivering in the past 3 years, allowing older properties to maintain high occupancy and stable rents.

 

With Scout Motors’ $2B automotive plant expected to enter production by the end of 2026, tenants seeking 100,000+ square feet of Class A space may see limited options over the next year or more as the bulk of the remaining construction pipeline consists of build-to-suit properties, Colliers said.

 

Its report said several pending lease deals are expected to further suppress vacancy in the fourth quarter.

 

As the Columbia region continues to outpace the nation in population and workforce growth, the market is well-positioned to meet demand, Colliers said.

BMC Announces the Acquisition of Smith Equipment

Brixey & Meyer Capital (BMC) announced the acquisition of Smith Equipment Solutions, a recognized leader in technical field services and distribution of premier automotive aftermarket shop equipment.

 

Financial terms weren’t disclosed.

 

Smith was acquired from Wil and Emily Smith, who will retain an ownership stake in the business.

 

Headquartered in Raleigh, North Carolina, Smith has served the North Carolina, South Carolina and Virginia markets for over 30 years.

 

Smith's field service team specializes in repairs, inspections, and preventative maintenance of automotive lifts, air compressors, and wheel alignment tools among other shop equipment.

 

Smith marks BMC's second investment in its aftermarket automotive shop equipment strategy and creates further density for its platform in the Southeast. 

 

In early October, BMC acquired Professional Maintenance & Equipment in Wade, North Carolina.

 

Brixey & Meyer Capital is a Cincinnati-based private investment firm focused on lower-middle-market companies.

 

Since its founding, BMC has successfully completed 19 acquisitions and raised over $200 million in committed capital.

 

The firm manages six different platform businesses across various industries. 

Charleston Nonprofit Raises $280,000 for Local Parks

The Charleston Parks Conservancy hosted its most successful Party for the Parks fundraiser on Nov. 2, raising $280,000 to support its work in 25 of Charleston’s public parks.

 

Held at Colonial Lake, the event drew a record number of attendees under the theme “Palm Royale: 60s Glamour Meets Charleston Charm,” blending a vintage Palm Beach vibe with Charleston’s community spirit.

 

Funds raised during the event will support the organization’s mission to maintain and enhance 25 public parks and green spaces across Charleston.

 

With 90 percent of funding coming from private donations and corporate partnerships and 10 percent from the city of Charleston, the Conservancy relies on events like Party for the Parks to keep parks sustainable and thriving.

 

The funds also enable the Conservancy to provide free community educational events and programming while supporting initiatives like Mulberry Park Food Forest, Charleston Trees, and Art in the Parks.

 

The Conservancy is also committed to eco-friendly maintenance practices, including minimizing the need for pesticides and other chemicals and hand-weeding invasive plants — a more time-consuming and costly approach but one, officials say, that ultimately benefits both the community and the environment by preserving biodiversity and promoting healthier ecosystems.

 

"Party for the Parks is more than a celebration; it’s a critical fundraiser for our work,” said Darlene Heater, CEO and executive director of the Charleston Parks Conservancy.

 

Heater added, “These funds allow us to continue vital projects like the revitalization of Colonial Lake, which began in September. This support not only sustains and enhances Charleston’s parks but also enables us to expand free community programming, providing educational and recreational opportunities that make our parks welcoming and accessible to everyone.”

 

The event’s raffle, sponsored by Carolina Rides and The Cassina Group, brought in $56,000, with a 2025 Moke America eMoke as the top prize.

 

The auction, sponsored by Coastal Cruising Carts, raised an additional $65,000 with packages like a Galápagos Adventure with National Geographic-Lindblad Expeditions, LSV Golf Cart Evolution D3 from Coastal Cruising Carts, a New York City package with The Stephen Colbert Show tickets and hotel accommodations, Kiawah Island Getaway including golf and dinner reservations, private dinners, shopping experiences, jewelry, art, and more.

 

The Conservancy thanked all sponsors, including Moore Farms Botanical Garden, ArtFields, Beemok Hospitality Collection, Rockwell Construction, Vincent & Bullwinkel Orthodontist, US Foods, Maison Real Estate and Fleet Landing, Diagio, as well as the food vendors, committee and volunteers and staff who organizers say contributed to the success of this year’s Party for the Parks.

Allow us to tell your company's Business Narrative. Send your press release to David Dykes or for more information email [email protected]