Business Services Industry
Fraser company to buy New Hampshire molder. (Venture Holdings Trust; Bailey Corp.)
Crain's Detroit Business, June, 1996 by Couteras, John
Venture Holdings Trust, the parent company of automotive molder Venture Industries Corp., has launched a $59 million stock tender offer for the Bailey Corp. of Seabrook, N.H., another molder. The Venture acquisition plan unanimously was approved by Bailey's board of directors. At the same time, Venture completed the takeover of financially strapped AutoStyle Plastics Inc.
in a Grand Rapids bankruptcy court. Venture's takeover of the AutoStyle business, arranged with the help of General Motors Corp., is structured as a factory lease agreement with an option to purchase the company's assets in two years. The acquisition of Bailey and the addition of the AutoStyle bumper fascia business could roughly double the size of Venture, an injection molder of interior and...
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