|
|
Article: Purchase of Snapple by Quaker Oats Creates Third-Largest Soft Drink Company. (Originated from New York Daily News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 2, 1994
- Author:
CopyrightCOPYRIGHT 1994 Knight-Ridder/Tribune Business News. 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)
|
Nov. 3--Snapple Beverage Corp., purchased yesterday by Quaker Oats for a $1.7 billion in cash, was started by three New Yorkers with $30,000 in seed money in 1972.
Hyman Golden, Arnold Greenberg and Leonard Marsh started the fruit juice and iced tea company as a sideline to Greenberg's East Village health food store.
Takeover speculation about Snapple had been rife since last week, as many Wall Street experts concluded that the fast-growing Long Island-based company was a ripe target.
Snapple is the market leader in both the iced tea and fruit drink categories. Its distinctive advertising - featuring Wendy (The Snapple Lady) Kaufman - have boosted ...