Missouri Minute: A-B InBev buys Ohio brewer; Sears to close more stores

Good morning, MBA readers,

Kansas City’s C2FO scored a $200 million investment that involves SoftBank, increasing pressure on the financial technology company to live up to the growing buzz about its concept. Across the state, Anheuser-Busch added to its collection of craft beers. Plus, goat yoga has arrived in Missouri. Scroll down to read up on these and the other top business stories of the day.

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From our newsroom

No kidding: Goat yoga trend gains foothold in Missouri
Ever since the first goat yoga class opened a few years ago in Oregon, the experience has grown in popularity for goat and yoga enthusiasts alike. The idea is simple: it’s a yoga class, except there are miniature goats roaming around that people can interact with. Now, it’s in Missouri — and it’s proving infinitely Instagramable.

Helix Health harnesses data, aims to reduce cost of chronic care
Prevention is cheaper than cure, Anurag Patel believes. That’s the sentiment at the heart of his startup, Helix Health. The Kansas City company aims to use data to connect health care providers with preventive solutions.

Stay alert

C2FO raises $200 million in SoftBank-led round
Leawood, Kansas-based financial technology company C2FO, which runs an online marketplace designed to help suppliers and buyers optimize cash flow, raised $200 million in a new funding round led by SoftBank’s Vision Fund. (MBA)

A-B InBev acquires Ohio brewery
Platform Beer, a fast-growing brewery based in Cleveland, will join Anheuser-Busch’s Brewers Collective of craft beer brands. (Brewbound)

Sears to shutter three more Missouri stores
Sears on Wednesday announced that it will close 26 Sears and Kmart stores across the country, including Sears locations in Cape Girardeau, Independence and St. Peters. (CNN Business)

Cape Girardeau voters approve $40 million sales tax extension
Voters in Cape Girardeau overwhelmingly chose to extend a quarter-cent sales tax that will raise more than $40 million over the next 15 years. The money will fund water projects and improvements to the local airport. (Southeast Missourian)

Mercy Joplin considers partnership with Kansas health care providers
Mercy Hospital Joplin is exploring a partnership with four Galena-Kansas health care centers, including Orthopaedic Specialists of the Four States. (Joplin Globe)

Joplin airport gets boost from new Chicago route
Nearly 9,800 passengers traveled through the Joplin airport in July, an 18% climb over the best month last year. Estimates for August project more than 10,000 passengers — including 4,000 bound for Chicago — for the first time since 1979. (Joplin Globe)

Say that again

“Those days of those small hog farmers are gone. It’s just reality. You gotta feed people in New York. You gotta feed people in Chicago. Guess what? This is how it’s done.”

That’s Don Franken, a lifetime Moniteau County farmer who supports a new law that will relax the rules on commercial feedlots in Missouri, the Columbia Missourian reports. Senate Bill 391, which Gov. Mike Parson signed in May, has sharply divided farmers around the state. While proponents like Franken believe the law is needed for feedlots to keep up with food demand, critics say the law will prompt new feedlots in places previously untouched by the disruptive noise and stench. Others fear the deregulation of feedlots will allow out-of-state corporations to freely build in Missouri towns.

Go figure

That’s how much more Sprint CEO Michel Combes stands to earn in bonuses if the company’s merger with T-Mobile is completed and he loses his job, the Kansas City Business Journal reports. The bump reflects a 15.8% increase in the value of stock options tied to the deal. Four top executives, including Combes, would collectively get about $120.2 million if they lose their jobs as a result of the deal. Sprint Executive Chairman Marcelo Claure is the only company leader who would actually get less than if the deal had gone through in fiscal year 2018.

Hello, my name is

The Overland Park, Kansas-based maker of risk management software has sold to NAVEX Global in Oregon for an undisclosed amount, the Kansas City Business Journal reports. Under the deal announced Tuesday, NAVEX plans to expand Lockpath’s staff from 85 to 100 employees. New hires will fill engineering and customer support roles. Officials say NAVEX acquired Lockpath as an entry point into the growing risk management market.

It’s been a pleasure doing business with you this morning.


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