Levi Strauss & Co. Deal - Lehman Brothers Collection
Levi Strauss & Co.
|Company Deal||1,396,000 shares common stock|
|Transaction Type||Common Stock|
|Deal Description||Levi Strauss & Co. used a portion of the proceeds from this transaction to reduce short-term bank borrowings, which were incurred primarily to finance capital expenditures made by the company during the fiscal year 1970 and for working capital purposes. Another portion of the proceeds was used to finance the company's facility expansion program. At the time of the deal, plans for 1971 called for the acquisition of two manufacturing plants, the enlargement of a permanent press curing facility contiguous to the Amarillo, Texas, distribution center, and the installation of equipment in three manufacturing plants occupied under lease in 1971. The balance of the funds the company expected to spend in 1971 were to be devoted to the commencement of construction of five new manufacturing plants and one distribution center.|
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