IC Industries has sold its Dad’s Root...

IC Industries has sold its Dad’s Root Beer and Bubble Up Cos. to Atlanta-based Monarch Co. for an undisclosed price. Roy Gurvey, president of Dad’s and Bubble Up, and Frank Armstrong, president of Monarch, said that executives of their companies will have ownership interests in the merged firm. Together, Dad’s Root Beer and Bubble Up account for about a half percent of the soft-drink market. Dad’s and Bubble Up will remain headquartered in Chicago.