Corporations: Simon's Assemblage

As an avid collector, Los Angeles Industrialist Norton W. Simon, 61, over the past four months alone has acquired, among other art works, a Picasso, two Cezannes, three Pissarros and a millon-dollar Manet. As a company collector, Simon has been buying up businesses for years. Now, he is forming the bulk of his collection into one assemblage. Last week the directors of his Hunt Foods & Industries and two companies it controls—McCall Corp. and Canada Dry Corp.—agreed to form a single company, which will be called Norton Simon Inc.

When the merger takes effect next month, it will certainly be...