Coffee Companies Agree on Merger
- Share via
NEW YORK — Chock Full o’Nuts Corp. said it has reached a merger agreement with privately held Hillside Holding Corp., parent of Hillside Coffee, a roaster and distributor of specialty coffees.
Terms call for Chock Full o’Nuts to issue up to 800,000 shares of its common stock in the transaction. Of these shares, 550,000 cannot be sold for five years.
In addition, Chock Full o’Nuts agreed to assume Hillside’s long-term debt, estimated at $16.5 million, at completion of the transaction.
Based in the Carmel area, Hillside anticipates sales of about $20 million for the fiscal year ended March 31.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
