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Article: Kraft Foods Buys Juice Maker Veryfine Products.
- Article from:
- The Sun (Lowell, MA)
- Article date:
- March 31, 2004
CopyrightCOPYRIGHT 2004 The Sun. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rebecca Lipchitz
Mar. 31--LITTLETON, Mass. -- When Samuel Rowse says he aims to give his employees more security, he isn't kidding.
Rowse's family, which has owned Veryfine Products Inc. since 1900, confirmed yesterday that they sold the company this week to Kraft Foods Inc. for an undisclosed price.
While selling a family-owned business to a corporate behemoth -- Kraft registered 2003 sales of $31 billion -- doesn't sound like security for employees, consider that the Rowses distributed $15 million of the proceeds to their employees.
So, how do you like them apples?
Veryfine, which for years was best known for its ...