Reginald Lewis bought Beatrice International foods in 1987 from Beatrice Companies for $985 million. He renamed the corporation as TLC Beatrice International which was a snack aliment, beverage and grocery store conglomerate. It was the largest African-American owned and managed business in the U.S. at that age. TLC Beatrice generated $1.8 billion revenue in 1987 and became the first black-owned corporation to have more than $1 billion in annual sales.
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