Word: beech-nut
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...York companies that have made a mint from nickel candy decided last week that life would be even sweeter under one corporate wrapper. Life Savers Corp., whose 14 candy flavors earned $2,750,000 last year, agreed to merge with Beech-Nut Packing Co., third biggest U.S. chewing-gum maker (after Wrigley, American Chicle). The merger, still to be formally approved by directors and stockholders, was a logical move for both companies. Life Savers was eager to expand. Beech-Nut, which also makes baby food, coffee and peanut butter, had been unable to fatten its profit margin: only...
...Noble is expected to be top boss of the merged company, Beech-Nut Life Savers Inc. W. Clark Arkell, 68, Beech-Nut board chairman (and son of Founder Bartlett Arkell), will have stock control, with some 10% of the 3,500,000 shares. Beech-Nut stockholders will get 1.2 shares in the merged corporation for each Beech-Nut share; Life Savers stock will be traded in on a share-for-share basis...
...management will consolidate sales organizations and let Life Savers (which also makes Pine Bros.' cough drops) take over Beech-Nut's chewing-gum business. Noble plans other economies. For example, Beech-Nut, which started out making hickory-cured ham in Canajoharie, N.Y. 65 years ago, has had an increasingly tough job competing in food lines with such giants as General Foods, Standard Brands and H. J. Heinz, could branch into higher-profit products. Bubbled Noble last week: "This will be one last fling...
COFFEE PRICES are going down for the first time since spring. General Foods, Beech-Nut and other big roasters have cut wholesale prices because of heavy imports from South America and good crop prospects...
...Three top competitors: Heinz, Beech-Nut and Clapp...