The two companies combined their operations in 1966. In 1963 he oversaw the acquisition of Don's Foods, a Nashville, Tennessee-based snack producer and distributor. He changed the name to "Golden Flake" a year later and, in 1958 moved the production facility to its current 5-acre site. In 1956, Leo's son Sloan Bashinsky Sr bought Magic City Foods from his father and uncle. Bashinsky and his brother-in-law Cyrus Case. Under Friedman's ownership, which spanned the Great Depression, the company continued to grow, with sales across North Alabama reaching $750,000 per year shortly after World War II. They had a rocky marriage and, when the divorce proceedings concluded, Friedman found herself the owner of Magic City Foods. She and her mother were impressed by the business and bought out Lischkoff's share. One early employee was Helen Friedman, who served as a spokesmodel, dubbed the "Golden Flake Girl". Sales took off, especially for their "Golden Flake" potato chips, and the owners expanded to keep pace with demand. The business, founded by Mose Lischkoff and Frank Mosher, sold roasted peanuts, peanut butter cracker sandwiches and home-made horseradish. Golden Flake began in 1923 as Magic City Foods in the basement of the original Hill's grocery store in downtown Birmingham. Utz CEO Dylan Lissette indicated that the brand would continue to operate as a wholly-owned subsidiary, similar to the way it operates the Zapp's brand from Louisiana which it acquired in 2011. In 2016 Golden Enterprises was acquired by the privately-owned Utz Quality Foods of Hanover, Pennsylvania for $141 million, or $12 per share plus $7 million in retired debt. For the fiscal year ending in May 2013, the company, which has over 1,000 employees, reported net sales of $137 million. The company's Chairman, President and CEO is Mark McCutcheon. Its 200 sizes and varieties of products are sold across a 12-state area. Golden Flake Snack Foods (NASDAQ:GLDC) is a Birmingham-based manufacturer of potato chips, crackers, nuts and other snack foods with its headquarters and main production facility located at 1 Golden Flake Drive in North Titusville northwest of the UAB campus and beside I-65, on the former site of the Alice Furnace.
0 Comments
Leave a Reply. |