"The transaction was friendly and the result of the sale is very positive for both parties," Pacific Video President Dean McPhail said Thursday.
"We plan to invest the proceeds from the sale in new ventures in the state of Hawaii," he said.
The franchise was awarded to Pacific Video in 1988. Since then, the chain has grown to 16 Blockbuster Video stores in Hawaii and two on Guam.
Sequoia Analytical Inc., a national laboratory network based in Redwood City, Calif., has acquired Environmental Laboratory of the Pacific. It already owned Hawaii Analytical.
Dirk Koeppenkastrop, director of Hawaii Analytical, said the two laboratories will operate out of separate facilities but as one company. Both are in the Mapunapuna industrial district.
Koeppenkastrop said Hawaii Analytical has a staff of six and Environmental Laboratory of the Pacific has 20. They complement each other, he said. Hawaii Analytical operates a mobile lab to do on-site environmental testing. Environmental Laboratory has certifications that allow it to do tests for the military.
Sequoia Analytical has 16 labs and 450 employees in the United States and around the Pacific Rim.
It was the lowest since March 7, when rates averaged 7.38 percent, according to the survey released Thursday.
One-year, adjustable rate mortgages averaged 5.62 percent, up from 5.60 percent last week. Fifteen-year mortgages averaged 7.19 percent this week, down from 7.32 percent. The rates do not include add-on fees known as points.
At Tuesday's ceremony, U.S. Under Secretary of Commerce Timothy Hauser will lead a delegation of U.S. business people from small companies looking for trade partners.
Hauser is expected to discuss trade issues with his Vietnamese counterparts, but is not expected to open another session of formal negotiations.
The trade office, in a new building, will promote the interests of U.S. companies in Vietnam's bureaucracy-hobbled investment climate. The office will employ two American staff workers.
More than 140 U.S. companies have opened offices in Vietnam since Washington ended a two-decade-long trade embargo in 1994.