February 8, 1990 |
Beatrice-Hunt-Wesson will close its Wesson oil refinery and eliminate about 100 jobs, a company spokeswoman said Wednesday. The subsidiary of the Chicago-based Beatrice Cos. notified its workers on Jan. 25 that the Wesson refinery will be closed soon because of "economic and strategic reasons," company spokeswoman Kay Carpenter said.
April 11, 1989
Looking for Prospects: Beatrice Co. said it is looking for acquisitions in a policy switch following three years of rapid-fire divestitures. Beatrice was taken private in a 1986 leveraged buyout led by Kohlberg Kravis Roberts & Co. Beatrice has sold several of its holdings, including the Avis car rental firm, the Tropicana juice business and underwear-maker Playtex. Proceeds were used to pay down debt. The company's remaining businesses are almost all food-related, and Chief Executive Fred Rentschler said he's looking for businesses compatible with operations such as Beatrice's Swift-Eckrich meat division or its Hunt-Wesson food operations.
December 8, 1988 |
Donald P. Kelly, former chairman of Beatrice Co. and a near-legendary deal maker, has formed a new limited partnership designed to acquire businesses that can be bought for as much as $1 billion. The investment firm Salomon Inc. will be a permanent partner to D. P. Kelly & Associates, arranging financing and finding investors for Kelly's new pursuits, Kelly said Tuesday. "We provide the managerial skills," Kelly said. "We don't have to worry about where we're going to get the equity.
October 28, 1988 |
The mention of Wall Street's recent mania for food companies brings a knowing smile from Reginald F. Lewis, chairman of the New York investment firm TLC Group. It was, after all, Lewis who in August, 1987, agreed to buy the international foods division of the Beatrice Cos. and in one complicated $985-million deal, catapulted from a little-known Baltimore lawyer and aspiring venture capitalist to what one newspaper called "the most influential black businessman in America."
July 22, 1988 |
Food maker Beatrice Co., parent of Fullerton-based Hunt-Wesson, has taken itself off the auction block following the collapse of negotiations with an unidentified buyer. Chicago-based Beatrice disclosed in a filing with the Securities and Exchange Commission that it has ended talks concerning the possible sale of its operating companies and the acquisition of Beatrice by a third party.
March 11, 1988 |
Canadian liquor giant Seagram Co. proposed the ultimate in mixed drinks Thursday, announcing it will buy orange juice producer Tropicana Products Inc. for $1.2 billion to expand Seagram's share of the beverage market. The Canadian liquor-and-beverage giant's acquisition of Tropicana from Beatrice U.S. Food Corp. marks a "diversification and an expansion" of Seagram's product line, Seagram Chairman Edgar M. Bronfman said in a statement.