New Horizons will not be sold after all

The Norwalk company and its 225 employees will continue work as usual, owner says
Scott Seitz2
Dec 27, 2012

New Horizons Baking Company will not be sold.

The company, and its 225 employees, will continue work as usual.

Tim Brown, owner, president and chief executive officer of New Horizons, made the official announcement Wednesday.

To find out why, read the story published in Thursday's Reflector. Or you can subscribe to the e-paper for less than $1 per week and read it now.

Comments

truckin

Not as sound of an investment after all huh? Maybe, just maybe, buyer seen it would be easier and cheaper to just compete? and let time do it's magic??

2sense

Or maybe the price was not right. Isn't it fun to speculate

truckin

Nah? the buyer must have wanted a lower price for the deal to collapse. Seller was willing at bargained price. Speculate....probably failed to show all proper finances (2nd set of books) in first agreement. now back to my first statement

Contango

Initially, Mr. Brown said that he was selling in order to "spend more time with the family."

Maybe he had enough of 'em over Christmas? :)

Previous article: http://www.norwalkreflector.com/...

BTW: It’s been my experience that leaving an organization to "spend more time with family" is most usually a euphemism for the “real” reason.

Contango

From my understanding, the intended buyer was Beaver Holdings in IL.

http://www.beaversholdings.com/

Fiscally and economically, the State of IL is in bad shape and for one has raised corp. taxes. Gotta suspicion that the deal fell through on their end.

Odds are that NH is still for sale for the "right" price.

hit the road jack

Maybe the stimulus grant they applied for is coming and can't sell it.