Does Amfac still exist?
At its peak, it owned 60,000 acres (24,000 ha) of land, and was a dominant sugar company in Hawaii as well the founder of one of its best known department stores, Liberty House. It now owns 5,000 acres (2,000 ha) of land in Kaanapali on the island of Maui….Amfac.
| Trade name | Kaanapali Land, LLC |
|---|---|
| Website | kaanapaliland.com |
What happened to Amfac?
Company History: Chicago-based but exclusively Hawaiian in activity, Amfac/JMB Hawaii L.L.C. is a subsidiary of Northbrook Corporation, which is itself a subsidiary of Chicago-based real estate giant JMB Realty Corporation. Amfac/JMB is the main successor company to Amfac Inc., which was bought by JMB Realty in 1988.
How many employees does Amfac Inc have?
8,500 workers
Bought by a Chicago-based real estate company for nearly $1 billion in 1988, Amfac has gone from the largest conglomerate in the state — with 8,500 workers in the islands — to a development company with a few hundred employees.
When was amfac founded?
1849
Amfac/Founded
When did American factors change its name to Amfac?
The first of many changes at American Factors occurred on April 30, 1966. The company ’ s name was changed to Amfac, which was shorter, easier to remember and more “ corporate-sounding. ” Henry A. Walker, Jr., a native Hawaiian whose father had served for many years as president of American Factors, was himself named president of Amfac in 1967.
When did Amfac get accused of price fixing?
In 1974 the Federal Trade Commission accused Amfac and other suppliers to the C&H sugar consortium of price fixing. The settlement which resulted cost Amfac several million dollars.
When did Amfac withhold its quarterly dividend?
The company recovered during 1984, yet lost almost $29 million in the final quarter when its Hotels and Resorts Group was restructured. As a result, Amfac was forced to withhold its quarterly dividend for the first time in 66 years.
Who are the Bass Brothers who own Amfac?
Amfac was not, however, protected from a different kind of corporate raid. Sid, Ed, Robert and Lee Bass, four Stanford and Yale-educated brothers from Fort Worth, Texas, announced in 1982 that they had acquired 11% of Amfac ’ s stock, and had filed a “ 13-D ” financial disclosure form with the Securities and Exchange Commission.