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Article: TLC Beatrice sells off major food division: B.E. 100s top concern sells French food branch for $573 million.(Brief Article)
- Article from:
- Black Enterprise
- Article date:
- December 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 Earl G. Graves Publishing Co., Inc. 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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A recent mega-deal by TLC Beatrice International Holdings Inc., No. 1 on the BE INDUSTRIAL/SERVICE 100 list, has meant a radical restructuring of company assets. It also provides an unexpected opportunity for several BE 100s companies to grab the coveted top spot on the BE INDUSTRIAL/SERVICE 100.
In one of the largest transactions ever in the French food sector, TLC Beatrice, which had sales of $2.2 billion in 1996, agreed to sell its mammoth food distribution business to Groupe Casino, a major French food retailer, for $573 million, which includes the reimbursement of an intercompany loan for roughly $ 115 million. The division includes Leader Price, the ...