BCI Holdings Considering Selling Beatrice Food Units
Sep. 02, 1987
CHICAGO (AP) _ BCI Holdings Corp. said Wednesday it was considering offers to buy its entire domestic operations, which include such well-known products as Peter Pan peanut butter and Wesson cooking oils.
BCI, a holding company which is changing its name to Beatrice Co. this week, had fiscal 1987 sales of $4.6 billion. It also is in the process of selling its Beatrice International Food Co. to TLC Group, a New York investment firm, for $986 million.
BCI said it is ''evaluating a number of inquiries relative to the possible sale of the company'' and has hired The First Boston Corp. as its financial advisor in the possible divestiture.
Charles Long, spokesman for BCI, declined to elaborate on the potential buyers or a selling price. However, he said the company hopes to settle on a single buyer before the end of the year.
BCI's domestic companies - which market such products as Hunt's tomato products, Wesson cooking oils, Peter Pan peanut butter and other well-known foods - earned $352 million in fiscal 1987.
BCI had its international units, which consist of 64 companies in 31 countries, up for sale since shortly after April 1986, when Beatrice was taken private in a $6.2 billion buyout by Kohlberg Kravis Roberts & Co., a New York investment company.