OTHER NEWS - June 2, 1994
From Times Staff and Wire Reports
Fleming to Buy Scrivner: The two rival food distributors have agreed to merge in a $1-billion deal that would create the nation’s leading supplier to grocery stores and supermarkets. The purchase by Oklahoma City-based Fleming Companies Inc. of cross-town competitor Scrivner Inc., owned by Franz Haniel & Cie, a privately held German company, marks the latest combination in a business that has been consolidating for some time. Under terms of the deal, Fleming would purchase Scrivner’s stock for $1.085 billion in cash and keep the Fleming name. If approved by shareholders and regulators, the merger would generate combined sales revenue of about $19 billion, making Fleming the nation’s largest food distributor.
