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Article: HomeRuns.com to Receive $100 Million Majority Investment From the Cypress Group L.L.C.
- Article from:
- Business Wire
- Article date:
- January 13, 2000
CopyrightCOPYRIGHT 2000 Business Wire. 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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Business Editors
NEW YORK and SOMERVILLE, MA--(BUSINESS WIRE)--January 13, 2000
--First and Largest Supermarket-Sponsored Internet Grocer Names Robert J. Tarr, Jr., Former CEO of Harcourt General and Neiman Marcus, Chairman and Chief Executive Officer --
The Cypress Group, a New York-based private equity firm, has entered into an agreement through which it will acquire a majority interest in HomeRuns.com, an Internet-based grocery delivery service, currently a wholly-owned subsidiary of Hannaford Bros. Co. (NYSE: HRD), through a $100 million investment and recapitalization. Hannaford will retain a significant investment in HomeRuns.com.
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