August 2, 1997
Republic buying Briggeman Disposal Inc.
The $16.5 million deal for Los Alamitos-based Briggeman requires councils' OK.
By ANTONIO A.
The Orange County Register
Republic Industries plans to strengthen its position in Orange
County's residential trash-pickup market with a proposed $16.5
million buyout of family-owned Briggeman Disposal Inc. of Los
The deal must be approved by the city councils involved.
Briggeman would become a Republic subsidiary. The Briggeman
name, familiar to nearly 80,000 residents in the three cities it
serves, would stay on its trucks. The name also would be added to
a number of smaller waste firms in Los Angeles County's South Bay
that Republic recently acquired.
George Briggeman Jr., president and chief executive officer of
the company his father started in 1957, said Friday that he would
swap his stock for $16.5 million in Republic common stock. He now
owns all of the Briggeman stock.
Stock in Republic, which has its West Coast offices in Anaheim,
closed at $24.43 on Friday, down 18 cents.
Briggeman would become a Republic regional vice president
under a long-term employment pact.
Briggeman said his firm would add an estimated $8.3 million to
Republic's $2.3 billion in annual revenue. Fort Lauderdale,
Fla.-based Republic owns National Car Rental, Alamo Rent-a-Car and
Value Rent-a-Car, as well as an automobile financing company.
Earlier this year, Republic bought Taormina Industries, which
owns Anaheim-based Consolidated Volume Transporters. Republic also
owns Bel-Art Disposal, which holds a trash franchise in Long Beach.
Industry giant Waste Management Inc., which has several
franchises in south county, is Republic's biggest competitor in
Harris W. Hudson, chairman of Republic's solid-waste-management
division, called the proposed buyout "a perfect fit.
"It provides us with a sound consolidation of collection routes
between these locations, while solidifying Republic's position,"
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