Saturday, June 11, 2011
Reginald Lewis bought Beatrice International foods in 1987 from Beatrice Companies for $985 million. He renamed the company as TLC Beatrice International which was a snack food, beverage and grocery store conglomerate. It was the largest African-American owned and managed business in the U.S. at that time. TLC Beatrice generated $1.8 billion revenue in 1987 and became the first black-owned company to have more than $1 billion in annual sales.