10/23/1983 - Lennox Foods (LENX) - CORPORATE ANNOUNCEMENT
Lennox Foods (LENX) reaffirmed its long-term commitment to product diversification by announcing the purchase corn and flour tortilla production facilities in Des Moines, Iowa. These facilities are the largest of their kind in the Midwest. Management asserts that a diverse product line will allow it to weather any change in consumer demand while still providing adequate profits for the company.
About Lennox Foods (LENX):
Lennox Foods, the poultry producer, breeds, processes, and markets chickens and Cornish game hens, as well as hogs (although chicken accounts for most of its sales). It produces tortillas and chips and animal feeds. Lennox sells its products around the world, with food service customers accounting for nearly half of sales. Lennox Fazio Jr., son of the founder, controls nearly 90% of Lennox Foods’ voting power.