Business Services Industry
TLC Beatrice International Has Retained Investment Bank to Review Financial and Strategic Alternatives
Business Wire, July 28, 1998
NEW YORK--(BUSINESS WIRE)--July 28, 1998--TLC BEATRICE INTERNATIONAL HOLDINGS, INC. today announced that it has retained the investment banking firm of Goldman, Sachs & Co. to review various financial and strategic alternatives to maximize the value of the company for its shareholders.
Following the sale last September of the company's French food distribution business, the Board of Directors authorized management to retain advisors to examine all financial and strategic opportunities to enhance and maximize the value of the company for its shareholders.
TLC BEATRICE INTERNATIONAL is a major manufacturer and marketer of ice cream in Spain and the Canary Islands and is the leading manufacturer of potato chips in Ireland. In September 1997, the company sold its French food distribution business for $576 million.
Just last week, the company announced that it had entered into a definitive agreement for the sale of its European beverage business to a group of local managers for a totalconsideration of$44 million which includes cash and the assumption of debt.
CONTACT: TLC Beatrice International, New York
R. S. Meily
212/756-8930
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