Word: forstmann
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...Anthony Forstmann, 46, and Joel Left, 48. The two partners in Manhattan- based Forstmann-Leff Associates are known in pension-fund circles as "the flashy ones." They wear designer suits, travel around the U.S. in Learjets and chauffeured Mercedes-Benz limousines and own Thoroughbred horses...
...Cola (1982 sales: $6.2 billion) and highly diversified PepsiCo (1982 sales: $7.5 billion). So, taking a hint from one of its old commercials, Dr Pepper has been looking for a friendly pepper-upper. Last week the company found one. Dr Pepper agreed to be acquired for $512.5 million by Forstmann Little & Co., a closely held New York investment firm...
...deal was the second major purchase in two days for Forstmann Little, which was formed in 1978 by Wall Streeter Wm. Brian Little, now 41, and the brothers Forstmann: Theodore J., 43, and Nicholas C., 36. The day before, the firm had agreed to buy Topps Chewing Gum (fiscal 1983 sales: $69.7 million), makers of the famous baseball cards, for some $95 million. Last January Forstmann Little paid about $100 million for Beverage Management of Columbus, a bottler of Seven-Up and Royal Crown Cola. Said Emanuel Goldman, a leading beverage analyst with San Francisco-based Montgomery Securities: "They truly...
Some observers doubted, however, that Forstmann Little would have much impact on Dr Pepper. Says Hugh Zurkuhlen of Wall Street's Salomon Brothers: "It's unlikely that Forstmann Little is going to make a big national push with Dr Pepper." Brian Little said the beverage company's officers, including Chairman W.W. Clements, 69, will remain on the job following the acquisition. "We are owners only," Little noted. "We don't get involved in management...
...Forstmann...