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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) October 6, 1995
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FUQUA ENTERPRISES, INC.
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(Exact name of registrant as specified in its charter)
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Delaware 1-5091 13-1988043
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employer Identification No.)
incorporation)
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One Atlantic Center, Suite 5000
1201 W. Peachtree Street, N.W., Atlanta, Georgia 30309
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(Address of principal executive offices)
Registrant's telephone number, including area code: 404-815-2000
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Not Applicable
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(Former name, former address and former fiscal year,
if changed since last report)
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ITEM 5. OTHER EVENTS.
On October 6, 1995, Fuqua Enterprises, Inc. ("Fuqua") entered into an
agreement to acquire Basic American Medical Products, Inc. ("Basic American")
for approximately $16 million consisting of 600,000 shares of Fuqua's Common
Stock and $2,500,000 in cash. Basic American, which is headquartered in
Atlanta, is a major manufacturer and distributor of health care equipment for
the acute, long-term and home health care markets.
On October 9, 1995, Fuqua also announced that it has reached an
agreement for a $60 million revolving credit facility led by SunTrust Bank,
Atlanta to provide funds for working capital and acquisitions.
A copy of the press release relating to the foregoing events is
included as an exhibit to this reort and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press Release dated October 9, 1995.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FUQUA ENTERPRISES, INC.
(Registrant)
/s/ Brady W. Mullinax, Jr.
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Brady W. Mullinax, Jr., Vice President-Finance,
Treasurer and Chief Financial Officer (Principal
Financial and Accounting Officer and Executive
Officer duly authorized to sign on behalf of the
registrant)
Date: October 12, 1995
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INDEX TO EXHIBITS
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SEQUENTIAL
EXHIBIT DESCRIPTION PAGE NO.
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99.1 Press Release dated October 9, 1995. 5
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NEWS RELEASE FUQUA ENTERPRISES, INC.
ONE ATLANTIC CENTER
SUITE 5000
1201 W. PEACHTREE STREET, NW
ATLANTA, GEORGIA 30309
CONTACT:
L.P. KLAMON
(404) 815-2000
FUQUA ENTERPRISES TO ACQUIRE BASIC AMERICAN MEDICAL PRODUCTS, INC.
FUQUA ENTERPRISES ALSO AGREES TO $60 MILLION CREDIT FACILITY
ATLANTA, GEORGIA (OCTOBER 9, 1995) - Fuqua Enterprises, Inc. (NYSE: FQE) today
announced that it has agreed to acquire Basic American Medical Products, Inc.
Basic American, which is headquartered in Atlanta, is a major manufacturer and
distributor of health care equipment for the acute, long-term and home health
care markets. Its extensive product line includes beds, stretchers, wheel
chairs and other patient aids and furnishings for home care, nursing homes and
hospitals. Basic American has manufacturing facilities in Wisconsin and
Georgia and distributes its products through its four marketing divisions:
Simmons Healthcare, Omni Manufacturing, NM Industries and Omni Healthcare.
Separately, Fuqua Enterprises announced that it had reached an
agreement for a $60 million revolving credit facility to provide funds for
working capital and acquisitions. This facility will be provided by a group of
banks headed by SunTrust Bank. Lawrence P. Klamon, President of Fuqua
Enterprises, said that the Company also has about $14 million in cash which
will also be used to expand the Company.
The Basic American acquisition is the first step taken by Fuqua
Enterprises' new management team, headed by J. Rex Fuqua, Vice Chairman, and
Mr. Klamon, to change the strategy and direction of the Company. Mr. Fuqua
said "Basic American is a core from which Fuqua Enterprises will expand further
into the health care market. Under the leadership of President Gene Minotto,
Basic American will continue to grow both internally and by acquiring related
businesses." Mr. Fuqua noted that demographic trends of an aging population are
driving growth in the long-term care and home care markets. Basic American is
a significant provider of equipment to both these markets. In addition, he
said that Fuqua Enterprises will benefit from a trend toward consolidation of
equipment providers into larger, more efficient, entities which can reduce
costs and enhance profitability.
The acquisition price will be approximately $16 million consisting
of 600,000 shares of Fuqua Enterprise's common stock and $2,500,000 in cash.
For 1995, Mr. Klamon estimated that Basic American would have about $30 million
in sales and that sales for 1996 are expected to increase substantially.
