Business

Bethesda-based property technology firm Brivo Inc. has landed a $92 million equity investment from the multi-billion-dollar Tokyo security company Secom Co. Ltd. The funding deal, announced Wednesday, comes less than a year after Brivo’s plans to go public through a merger with a special purpose acquisition company fell apart amid a downturn in the financial markets that caused many such deals to collapse. That deal, which was terminated in August, was expected to net Brivo about $304 million.

Giant Food will open a new store at a Baltimore County retail center, taking over an anchor space from another grocer that’s set to close this summer. Landover-based Giant will open at Perring Plaza in Parkville in the second quarter of 2024 after renovations to the 55,000-square-foot space, said Felis Andrade, a spokeswoman for Giant, on Monday. The store will replace a Shoppers, which has been an anchor at the center for years but announced in early Mary that it was closing July 15 and laying off 49 workers.

Lakeforest Mall’s owners have redoubled their efforts to persuade Gaithersburg officials to adopt an ordinance that would help speed up redevelopments like theirs. Representatives for South Carolina-based WRS Realty penned a letter earlier this month, its second such appeal, to city officials asking them to take up local legislation that would let the two sides strike what’s known as a Development Rights and Responsibilities Agreement, or DRRA.

Have your kids ever wondered what it feels like to wear an Olympic gold medal? They will have the opportunity to find out Sunday at the grand opening of the Dominique Dawes Gymnastics & Ninja Academy in Rockville. It’s the second location for the gym operated by gold-medal-winning Olympic gymnast Dominique Dawes, 46. She’ll be signing autographs, the gold medal will be available for children to try on and take photos with.

Clark, who owns Soigne Luxury Accessories in Fells Point, makes luxury hats for those attending the three horse races that make up the Triple Crown — the Kentucky Derby, the Preakness Stakes and the Belmont Stakes. Her 2023 couture hat collection, which debuted in April, is now getting closer to selling out as Preakness approaches on Saturday.

The pending $6.05 billion sale of the Washington Commanders from longtime owner Dan Snyder and his family to a group led by investor Josh Harris remains under standard review and will not be voted on next week by NFL owners at their spring meeting, the league said Thursday. Jeff Miller, the NFL executive vice president of communications, public affairs and policy, confirmed on a conference call with reporters that the approval vote will come later.

Just about every bank based in the Baltimore region is about the same size as it was five years ago, or a little bigger, save one — CFG Bank more than quadrupled its assets, deposits and profits since the end of 2018. With about $4.25 billion in assets at the end of last year, CFG remains a small player nationally, but the Baltimore County bank has blossomed into the biggest bank headquartered in the metropolitan area and fourth biggest in Maryland, even as rising interest rates, depositor worries and bank failures roil the industry.

Hyundai and Kia have agreed to pay up to about $200 million combined to settle a class-action lawsuit over a manufacturing defect that made it so easy to steal certain vehicles that teenagers were challenging each other to do it on social media. Both companies, as well as attorneys for the plaintiffs, said Thursday that they had agreed on the proposed settlement amount, which still must be approved by the court. In a joint statement, the car manufacturers said the proposed agreement “could be valued at approximately $200 million depending on how many customers elect to participate.”