GRAND & TOY SOLD TO U.S. COMPANY
By Adnews Staff
Boise Cascade Office Products Corp. of Chicago has bought Grand & Toy Limited for $145 million. Grand & Toy's parent company, Cara Operations, says it wants to focus on its food business. It operates Swiss Chalet and Harvey's restaurants, Beaver Foods catering, Summit Food Service Distributors and Cara Airport Services. Grand & Toy will continue to operate independently, Boise spokesperson Vince Hannity told Adnews this week. Doner Schur Peppler of Toronto does Grand & Toy advertising. Boise doesn't advertise. Both companies concentrate their main sales efforts on large corporations and organizations. Cara originally wanted to form an alliance with a U.S.-based office products company so Grand & Toy could increase its annual sales which are now over $300 million. However, Boise preferred to buy the whole company.