A Los Angeles investment firm controlled by...

A Los Angeles investment firm controlled by British millionaire Gerald M. Ronson said it has purchased 5.2% of Best Products Co., a catalogue-showroom chain based in Richmond, Va. The investment firm, called Bearclaw I, said the stock was purchased “solely for investment purposes.” Ronson is chairman of Heron International PLC--a conglomerate with interests in industries ranging from gasoline stations to real estate. He was arrested in London this week and charged with eight offenses in connection with a suspected stock-buying scheme orchestrated by the British brewer Guinness PLC at the time of its purchase last year of Distillers Ltd.