Daily Dose of The Executive Almanac Part 4
January 11, 2007
Today's Dose of The Executive Almanac: Whatever Happened to Borden Founded 1857 "Once the world's largest food company--Gail Borden invented condensed milk, and the company was the first to put fresh milk into bottles--Borden lost its way in the 1980s, selling and buying companies at a rapid clip. Meanwhile, it was making more money in chemicals than in foods. In 1995 the investment firm Kohlberg, Kravis, Roberts acquired Borden in a leveraged buyout and then sold off the food business, including Cracker Jack, Creamette and Prince pastas, Snow's Clam Chowder, Realemon, and Wise's Cheez Doodles.
Today's Dose of The Executive Almanac:
Whatever Happened to Borden
Founded 1857
"Once the world's largest food company--Gail Borden invented condensed milk, and the company was the first to put fresh milk into bottles--Borden lost its way in the 1980s, selling and buying companies at a rapid clip. Meanwhile, it was making more money in chemicals than in foods. In 1995 the investment firm Kohlberg, Kravis, Roberts acquired Borden in a leveraged buyout and then sold off the food business, including Cracker Jack, Creamette and Prince pastas, Snow's Clam Chowder, Realemon, and Wise's Cheez Doodles. In 2004 the investment firm Apollo Management took control of Borden Chemical."