Minute Maid Corp., one of the first companies to market frozen orange juice, last week became the owner of its own fruit groves. For $5,000,000, it bought 4,700 acres of orange and grapefruit groves near its three processing plants in Florida from Di Giorgio Fruit Corp., one of the biggest U.S. fruit growers.
Minute Maid's initial success came when it proved that frozen orange juice could have a fresh-squeezed taste. It got its second boost when it sold Crooner Bing Crosby 20,000 shares of stock at 10ยข a share and made him a director (TIME, Oct. 18, 1948). As part of...
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