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Our latest Wellesley, Mass., business news:
Weston reported that Vanguard Renovation was purchased for $700 million
Wellesley-based Vanguard Renewables, a company whose products turn food and animal waste into natural gas, has been acquired by BlackRock Real Estate for $700M.
In a press release that’s more surprising than the price, the company says it will “drive the next phase of growth, including plans to order more than 100 anaerobic digesters for renewable natural gas production across the country by 2026.” The company works with farms to convert organic matter into fuel.
The deal technically involves the acquisition of Vanguard from Vision Ridge Partners.
According to a Boston Globe report on the deal, the company plans to move its headquarters from Wellesley’s Walnut Street location to a larger office in Weston this fall.
KeNo for now
The Wellesley Board of Selectmen this week heard a keno game permit request by the owner of the Shell gas station and convenience store at 987 Worcester St., Rte. 9. Keno is a lottery-like gambling game that’s more common around here at bars than at gas stations or convenience stores.
Shell site owner Sammy Hamze already offers a no-nonsense version of the game called Keno to Go, but he wants a more full-blown version that includes a monitor. The Massachusetts State Lottery licenses Keno, but Hamz is seeking city approval to install a monitor and possibly a seat for it. He said the addition would mean more foot traffic and revenue for the business and more revenue for the city.
Wellesley Executive Director Megan Jopp said the city’s zoning ordinance prohibits the release of games of chance since 1996. “It will be a challenge to approve,” she said.
Hamzeh said he knows of two local businesses that have or have had such displays, and he understands that such monitors are only allowed if the business is a restaurant with a liquor license. Whether or not this is true (and the city can investigate), Hamze’s plan will not be approved by the board.
Select Board member Ann-Mara Lanza suggested that Hamz may consider filing a citizen’s petition to change the bylaw. “I have no idea whether Town Meeting is receptive or not,” she said.
Chairman of the board Tom Ulfed Hamz confirmed that the group does not want to stand in the way of business opportunities.
The board denied the permit but added an item to its July 26 meeting agenda to vote on the Keno Zone being reviewed and considered by the Planning Board.
Stay Fashion Boutique opens on Rte. 135 in Natick
We were delighted to discover Regian de Araujo when we spotted a new women’s and girls clothing store in Natick called Stay Fashion Boutique. Learn more about this store, which plans to expand beyond its original Brazilian-inspired merchandise.
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