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Advertiser Staff and News Reports

Molokai Ranch pays $9.1 million for resort

Molokai Ranch Ltd. completed its purchase of the Kaluakoi Resort on Monday, ending two years of efforts by Kukui (Molokai) Inc. to sell the shuttered Moloka'i property.

According to state records, the ranch paid $9.1 million for the resort, which includes an 18-hole golf course, 138-room townhouse-style hotel and about 300 residential lots on 4,000 acres.

Kukui, a subsidiary of Japan-based Tokyo Kosan Ltd., closed the resort in January and laid off about 100 employees.

Molokai Ranch, a subsidiary of Singapore-based Brierley Investments Ltd., owns 53,000 acres on the island.

The company plans to spend several million dollars improving resort water and sewer systems, but has no immediate plans to reopen the golf course or hotel. Instead, the ranch wants investors to help revitalize the property or buy parts or all of the 24-year-old resort.

Amcon acquires water bottler

Amcon Distributing Co., a wholesale distributor of consumer products, announced yesterday that it has completed the acquisition of Hawaiian Natural Water Co.

"We acquired Hawaiian Natural Water because it is a quality product with a big future that fits beautifully into our growing distribution business," said William F. Wright, chairman and chief executive of Amcon, based in Omaha, Neb.

The merger makes Hawaiian Natural Water a wholly owned subsidiary of Amcon. Shareholders of Hawaiian Natural Water will receive Amcon shares, listed on the American Stock Exchange under the symbol DIT.