How it happened

In 1971, at the age of 81, the founder of Sullivan’s, Mr Charles Sullivan, retired and handed over as chairman of directors to his son Denis. But Denis Sullivan died within a few months of taking office.

This meant that no member of the Sullivan family was left on the board and the family expressed a wish to relinquish its shares in the holding company. At the same time, the team which had taken over the management of Sullivan’s was feel ing the need to be associated with a larger group.

Closely in touch with these developments was Mr W. J. Cram sie, the Sydney representative of Compagnie Olivier, a French-based trading firm which had been ac quired by Scoa a year before. This acquisition had given Scoa a much improved position in the Far East, Olivier’s traditional area of op eration.

Mr Cramsie was instrumental in establishing contacts between Scoa and Sullivan executives and dis cussions between the two sides were begun in May, 1976.

Scoa was reported in February to have paid SA2.B million for the en tire issued capital of the company.