The risks to conglomerates who acquire popular, family-owned businesses was dramatically illustrated in 2016 with the sales of Redondo Beach-based Body Glove and Manhattan Beach-based Shorewood Realtors.
Body Glove, the South Bay’s largest and oldest surf industry company and one of the most recognized brand names in the world, was positioned for exponential growth following its sale to New York-based Marquee Brands.
By contrast, Shorewood Realtors, formerly the beach cities largest home seller, went into bankruptcy just 18 months after being acquired by Denver based LBH Holdings.
The supermarket and hotel industries also experienced mixed results at the beach in 2016. Hermosa Beach welcomed a Trader Joe’s, North Redondo