Seagram Acquiring Tropicana
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Associated Press
NEW YORK — Canadian liquor giant Seagram Co. Ltd. announced today it is buying orange juice producer Tropicana Products Inc. from Beatrice U.S. Food Corp. for $1.2 billion.
The acquisition, which is expected to be completed next month, marks a broadening of Seagram’s product line, Seagram Chairman Edgar M. Bronfman said in a statement. Beatrice U.S. Food Corp., based in Chicago, is a division of Beatrice Co., which put itself up for sale last September.
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