Business Services Industry
USING ACQUISITIONS, SARA LEE PERKS UP COFFEE-SELLING EFFORT.(plans acquisition of Chock Full O' Nuts Corp. and Wechsler Coffee Corp.)
Crain's Chicago Business, July, 1999 by COHEN, DEBORAH L.
Sara Lee Corp. is getting a buzz from its coffee habit. The consumer products company recently agreed to acquire two East Coast coffee companies: Chock Full O' Nuts Corp. for $238 million in stock and closely held Wechsler Coffee Corp. for an undisclosed price. The acquisitions will cater to Sara Lee's core corporate and institutional coffee customers, ranging from Dunkin' Donuts to Hyatt Hotels, and will nearly double the Chicago company's domestic 1999 coffee revenues to $1.2 billion -- much of which comes from sales of its Superior brand.
That added bulk gives Sara Lee more muscle to beat back longtime rivals Procter & Gamble Co. and Philip Morris Cos.' Kraft Foods Inc., while also protecting its flank against the popular Starbucks chain, which is...
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