June 25, 1988 |
Jacobs Suchard AG conceded defeat on Friday in the takeover battle for British confectioner Rowntree PLC to Swiss foods giant Nestle SA, which now will displace Suchard as the world's second-largest confectioner. But Suchard, which agreed to sell its 28.4% stake in Rowntree to Nestle for 690 million pounds ($1.2 billion), is walking away with a hefty profit, which analysts estimate at more than 200 million pounds.
June 23, 1990 |
Philip Morris Cos., the international food and tobacco giant, is gobbling up some of Europe's fine chocolates and coffee. In a $3.8-billion deal announced Friday, it agreed to buy most of Jacobs Suchard AG of Zurich, the world's No. 3 coffee and chocolate company.
March 3, 1992 |
P&G Sells Italian Coffee Unit: Procter & Gamble Co. has agreed to sell its Italian coffee business for an undisclosed price to Jacobs Suchard Italia, a unit of tobacco and food giant Philip Morris. The sale includes the Splendid and Caramba brands and a manufacturing plant in Andezeno, Italy. P&G bought the Italian business in 1973 from Societa Generale del Caffe.
April 27, 1988 |
Nestle SA presented a takeover offer for Rowntree PLC on Tuesday that valued the British confectioner at $3.9 billion and sparked expectations of a bidding war here between Switzerland's top chocolate makers. Rowntree, which also has been eyed by Jacob Suchard AG, called the takeover offer unwelcome. "It is our intention to remain independent," a Rowntree spokeswoman said, but the firm's continued independence appeared less likely as Suchard responded angrily to Nestle's move.