*** Welcome to piglix ***

Nathan Cummings


Nathan Cummings (1896–1985) was a Canadian-born American businessman, investor and philanthropist. He was the founder of Consolidated Foods, which later became known by one of its product lines, Sara Lee Corporation.

Nathan Cummings was born in 1896 in Saint John, New Brunswick, Canada, the first child of Jewish parents who had immigrated from Lithuania. It was pure chance that he was born Canadian: his parents had disembarked in Saint John, the first port of call, assuming it was their destination, New York City. The family later moved to Waltham, Massachusetts, setting up a small shoe shop. They moved to Manchester, New Hampshire, and eventually relocated their business in Montreal around the time of World War I. Cummings was not able to finish high school, but was sent to the Dry Goods Economist Training School in New York for a year before returning to work with his father. From the age of fifteen he sold shoes until, at nineteen, he took on the job of traveling salesman for a shoe manufacturer.

By 1924 Cummings had established a shoe shop and factory of his own by 1924, but the business foundered during the Depression, and he was forced to declare bankruptcy in 1932. He paid off his debts and started anew.

By the mid-1930s he had invested in McCormicks, a biscuit and candy company in Canada. The success of that business, which he sold to Weston in 1939, prompted an invitation to manage the Baltimore-based coffee, tea and sugar chain, C.D. Kenny Company. Cummings acquired the company in 1941. Its continued prosperity allowed him to expand his holdings to found a business empire.


...
Wikipedia

...