QUAKER OATS, Chicago, said last week it has agreed to sell its Snapple beverage division to Triarc Cos., New York, for $300 million, pending regulatory approvals. Snapple said the move was prompted by shareholder pressure to give up the "financial burdens and risks" associated with Snapple and focus on more-profitable divisions. Snapple sales were down 8% in 1996 to approximately $550 million, and the brand operated at a cash loss, due to volume declines and increased promotional spending.
e $849,000 of fraudulently earned income to the IRS. Anthony pleaded guilty to one count of filing a false income tax return last December. In exchange, the government dropped other charges against him, including mail fraud and filing two other false tax returns.
WEIS MARKETS, Sunbury, Pa., and its subsidiary, Mr. Z's Food Mart, violated the National Labor Relations Act when it fired employee Tom Cahill and subsequently filed a criminal complaint against him with the Pennsylvania State Police for attempting to organize a union, according to a ruling last week by an administrative law judge. Judge George Aleman ordered the company to rehire Cahill with back pay and post in its stores a memo from the court explaining to employees that Weis Markets will not interfere with union-organizing activity. Officials for Weis Markets could not be reached for comment.
TESCO, Cheshunt, England, said it will purchase Associated British Food's Irish food retailing and related businesses for 630 million pounds and invest a minimum of 100 million pounds in the acquired stores over the next three years. The purchase would give Tesco an 18% market share in Northern Ireland and 19% in the Republic. ABF chains include Quinssworth, Crazy Prices and Stewarts. The deal is subject to European Commission approval.
