The Pillsbury Corporation is America’s oldest food retailer from the 1800s. The company flourished as the top manufacturer of refrigerated and frozen dough goods: biscuits, crescents, cookies, pie crusts, waffles, pancakes, and bread.

On this day, October 4th, in 1989, the Grand Metropolitan, a British Beverage Company, buys The Pillsbury Corporation. Pillsbury’s progress slowed down and GrandMet stepped in and took over. Initially, Pillsbury was on attack and fought against GrandMet; however, their attempts were futile and shareholders accepted $66 per share that cost GrandMet $5.75 billion. The deal was official and Pillsbury became a subsidiary of the Grand Metropolitan.

At the end, GrandMet became the eighth largest company for consumer goods in the world, specializing in branded foods and drinks.