BEATRICE TO BE SOLD
By Adnews Staff
Toronto-based Beatrice Foods could be sold in April to an undisclosed buyer in a deal worth $440 million. Last year, Beatrice owners and creditors spent months looking for a buyer, but in October a restructuring was completed that gave controlling ownership of Beatrice with a group of debenture holders. The company announced the potential sale because some its shares trade over the counter in New York and they were recently selling below the price agreed in the deal. Beatrice advertising is done by the Leo Burnett Company of Toronto.
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