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Article: TLC Beatrice International Sells French Food Distribution Business To Groupe Casino
- Article from:
- PR Newswire
- Article date:
- September 3, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. 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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NEW YORK, Sept. 3 /PRNewswire/ -- TLC Beatrice International and Groupe Casino today announced that they have signed a definitive agreement for the sale of TLC Beatrice's French food distribution business to Groupe Casino for $459 million (2.8 billion French francs) plus reimbursement of an intercompany loan for an aggregate price of approximately $573 million (3.5 billion French francs) in one of the largest transactions in the French food sector to date. In 1996, this business posted sales of $1.9 billion with operating income of $59 million.
TLC Beatrice's French food distribution business includes the Leader Price group of companies, which operates a ...