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Florida and produced citrus products. Around 1972 or 1973, NFF
Corp. changed its name to Orange Co., Inc. (Orange Co.), and
changed LHCC's name to Orange Co. of Florida, Inc. In 1976,
Orange Co. was listed on the New York Stock Exchange. In 1978,
Orange Co. sold the Arthur Treacher's chain.
By 1985, Orange Co. had revenues approximating $70 to $80
million a year. During Mr. Davis' involvement with Orange Co.,
it produced approximately 5 percent of the orange juice consumed
in the United States.
In 1970, Mr. Davis, R. David Thomas (Dave Thomas), and Len
Imke started Wendy's International, Inc. (Wendy's). Mr. Davis
was a board member, adviser, and investor of Wendy's. Mr. Davis
held more than 20 percent of the stock of Wendy's at its
inception, and he facilitated financing for the company. He
built the first freestanding building used by a Wendy's
restaurant and, during the company's first year of operation,
raised $1 million. Two years later, Mr. Davis raised an
additional $3 million and facilitated additional financing.
In 1976, Buckeye Federal Savings & Loan (Buckeye) was
contemplating a public offering. Mr. Davis decided to make a
substantial investment in Buckeye. He went to separate brokerage
firms and informed them that he wished to acquire their allotment
of Buckeye shares. Through these firms, Mr. Davis acquired 20
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