Reported by Star-Bulletin staff & wire
Friday, September 20, 1996
Reported by Star-Bulletin staff & wire
Friday, September 20, 1996
C. Brewer said it has reached a deal in principal to buy Hawaii's Own and that it hopes to complete the transaction within a month.
The sale price was not disclosed. But C. Brewer said that there are no plans for layoffs or management changes.
Hawaii's Own, which has operated in Hawaii since 1959, is a maker of specialty tropical juices such as guava and strawberry, guava and raspberry and orange and mango.
Prior to the deal, C. Brewer's Kilauea Agronomics Inc. unit supplied Hawaii's Own with guava puree for its juice products.
Founded in 1826, C. Brewer is a privately held diversified agribusiness, specialty foods and land development company. The company last month announced that it was relocating its corporate headquarters to Hilo from Honolulu.
Richard F. Cameron, who has been with Hawaiian Commercial & Sugar Co. since 1982, will be succeeded by G. Stephen Holaday, who has served as assistant general manager of HC&S since January. Cameron, also senior vice president of A&B Hawaii, has worked with a number of nonprofit groups on Maui. He was co-chair of Maui United Way's 1988-89 campaign and was a trustee of Hale Makua Trust Fund.
Cameron serves as a director of the Maui Arts & Cultural Center.
The Arlington, Va.-based electric power company, which owns a power plant in Barbers Point, said if its application is accepted, Big Board trading in its stock could begin in late October. The company currently trades on Nasdaq stock market.