Firestone
The tire brand Firestone got the opportunity to merge with an Italian company called Pirelli. However, the deal did not sit right. This was the reason Firestone instead chose to sell to a Japanese company called Bridgestone Corp. The Tokyo-based corporation bought it for $2.6 million, which meant that a share cost $80. This decision made Bridgestone the second-biggest tire manufacturer in the country. A Firestone representative told the Los Angeles Times, “The Bridgestone offer achieves our objective of enhancing shareholder values and will add materially to the employment security and career opportunities available to the men and women employed by Firestone’s existing businesses.”
Firestone
Gerber
Nestle announced that it was planning to shell out $5.5 billion for the acquisition of Gerber Products Company in 2007. It had been the right move because this meant that the Swiss company now had the biggest slice in the baby food sector. It is a very profitable market. The baby food retailer has been in the industry since 1927 after Daniel Frank Gerber’s wife began to cook baby food for Sally, their daughter. He thought of selling the product, and they soon introduced five different products to the market. It goes without saying that the company has come a long way since its humble beginnings in New Jersey!
Gerber
