Maggios sell their cheese business

Article Abstract:

M. Maggio Co. Inc. of South Philadelphia, PA, will be sold to Crowley Foods Inc., a dairy distributor headquartered in Binghamton, NY, for an undisclosed amount. Crowley Foods confirmed the sale, but like M. Maggio, did not reveal terms of the deal. As a result of the deal, M. Maggio's plant in South Seventh Street in Philadelphia, will be closed, with employees to be transferred to Crowley's Ready Food Products manufacturing and distribution operations in Northeast Philadelphia. According to Crowley spokesman Robert Cline, Crowley will distribute Maggio brand cheeses from its operations in Northeast Philadelphia.

Comment:

Will acquire M Maggio Company Inc for an undisclosed amount

Dairy Products, Dairy Product Manufacturing, New York, Cheese, Cheese Manufacturing, M. Maggio Company Inc., Crowley Foods Inc.

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Red Bell says Lion rejected takeover

Article Abstract:

Red Bell Brewing Co. of Philadelphia, PA, says its bid to buy Lion Brewery for $19 million has been turned down. Red Bell says the offer was turned down because Lion obtained a higher offer from another company. Lion makes the Brewery Hill and Stegmaier brands of beer as well as a nonalcoholic beverage, specialty beers and soft drinks. In September 1997, the company tapped the services of an investment banking firm to consider strategic alternatives for the company, including a possible sale. In fiscal 1997, Lion registered a net income of $1.8 million on sales of $26.9 million.

Comment:

Says its bid to buy Lion Brewery for $19 million has been turned down

Breweries, Beer & Ale, Red Bell Brewing Co., Lion Brewery Inc.

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Connelly firm to be purchased by Ga.-Pacific; terms of the deal were not disclosed

Article Abstract:

Connelly Containers Inc (Bala Cynwyd, PA) is to be acquired by Georgia-Pacific Corp for an undisclosed sum. Connelly president Thomas Connelly said the company's 120 employees would be retained, and that he would continue with the firm. Connelly Containers posted 1998 revenues of less than $38 million, and is operating at less than 50% of capacity. Georgia-Pacific already operates 4 heavy-duty corrugated-packaging plants, but Connelly Containers will be its first in the Philadelphia, Pennsylvania area.

United States, Sawmills, Corrugated and solid fiber boxes, Corrugated and Solid Fiber Box Manufacturing, Sawmills and Planing Mills, Sawmill Products, Corrugated & Solid Fiber Boxes, Abstract, Georgia-Pacific Corp., GP, Lumber industry, Paperboard boxes, CON, Connelly Containers Inc.

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