Martin Ice Cream Company - Page 15

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            allocation of the total price between distribution rights as such                           
            and the business records related to those rights, or even refer                             
            to any such records.  H�agen-Dazs had derived the total price it                            
            was willing to pay from a formula based upon MIC’s annual sales                             
            of H�agen-Dazs products to the supermarkets.                                                
                  On May 31, 1988, SIC’s certificate of incorporation was                               
            filed with the New Jersey secretary of state, and SIC was                                   
            organized as a wholly owned subsidiary of MIC.  On June 2, 1988,                            
            Stan Oleson of Pillsbury sent Mr. Hewit a draft “Agreement for                              
            Purchase and Sale of Assets” and other associated draft                                     
            documents.  The Agreement documents listed Arnold, Martin, MIC,                             
            and SIC collectively as “Sellers” and provided for the purchase                             
            of any and all of Sellers’ distribution rights, “including but                              
            not limited to supermarket and food service distribution rights,                            
            if any” and their cancellation by the “Buyer”.  On June 6, 1988,                            
            Mr. Hewit replied to Mr. Oleson with a letter containing a number                           
            of modifications to the proposed agreements, chief among which                              
            was elimination of all references to Martin and MIC as parties to                           
            the proposed sale so as not “to increase the risk that the 355                              
            Exchange will be collapsed”.  During the negotiations that                                  
            culminated in the signing on July 8 of a sale agreement between                             
            Arnold and SIC as sellers and H�agen-Dazs as buyer, Mr. Hewit did                           
            not draft his own version of the sale agreement; he made mark-ups                           
            of his suggested changes and sent copies of the marked-up drafts                            
            back to H�agen-Dazs.                                                                        




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