DailyTimeCapsule brief
August 18, 1955
On August 18, 1955, a significant business transaction reshaped the women's apparel industry as Holeproof, a well-known lingerie and hosiery brand, was sold to Julius Kayser & Company for $13 million. This acquisition positioned Kayser as the largest manufacturer of women's lingerie and accessories in the United States, with anticipated annual sales reaching an impressive $85 million. Concurrently, in the realm of defense, Rear Admiral Burke was inducted as the Chief of the Navy, signaling a pivotal leadership change in the military at a time when Cold War tensions were escalating. Additionally, C & C Super entered the spray gun market by acquiring Power Products, Inc., highlighting a period of consolidation in the chemical and manufacturing sectors. Globally, the atmosphere was tense, as the world was still grappling with the implications of the ongoing Cold War, with nations aligning and re-aligning under different ideological banners.
Key developments
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On August 18, 1955, Julius Kayser purchased Holeproof Hosiery for $13 million. This acquisition aimed to create the world's largest manufacturer of women's lingerie and accessories, with an estimated combined sales volume of $85 million annually. Holeproof's president, Mr. Frankel, commented on the implications of this significant merger.
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On August 18, 1955, C & C Super Corp announced plans to acquire Power Products, Inc., a significant entity in the coal and chemical sectors. This stock deal marked a strategic expansion for C & C Super into the spray gun market as well as power products. The acquisition illustrates the growing interconnection between various industrial sectors during the mid-20th century.
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Burke Takes Over Navy Command; BURKE INDUCTED AS CHIEF OF NAVY
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