Family to Buy 100% of Young’s Market:...
From Times Staff and Wire Reports
Family to Buy 100% of Young’s Market: Vernon O. Underwood Jr., president and chief executive of Young’s Market Co., announced that the Los Angeles-based wholesaler of spirits, wines and other provisions has entered into a merger agreement with a new corporation formed by the Underwood family. Under the terms of the agreement, shareholders other than the Underwood family will receive $3,500 a share at closing, which is expected in December. Underwood said holders of more than a majority of the firm’s stock have approved the transaction.
