Norton Simon, Inc.
| Norton Simon | |
|---|---|
| Born |
Norton Simon 5 February 1907 Portland, Oregon, US |
| Died | 2 June 1993 (aged 86) Beverly Hills, California, US |
| Cause of death | Guillain–Barré syndrome |
| Residence | Beverly Hills, California |
| Citizenship | American |
| Alma mater | University of California, Berkeley |
| Occupation | Industrialist, philanthropist |
| Known for | Founder of the eponymous Norton Simon Museum, Founder of Hunt's Foods |
| Home town | Fullerton, California |
| Net worth | 2 billion dollars |
| Political party | Republican |
| Board member of | Hunt's Foods |
| Spouse(s) | Lucille Ellis (?-1970; divorced) Jennifer Jones (1971-1993; his death) |
| Children | Robert Simon (deceased) Donald Ellis Simon (1936-present) |
Norton Winfred Simon (February 5, 1907 – June 2, 1993), was an American billionaire industrialist and philanthropist based in California. His significant art collection is housed in the Norton Simon Museum in Pasadena, California.
Born into a successful Jewish family in Portland, Oregon, he attended high school in San Francisco, graduating in 1924. At his father's insistence, in 1925 he enrolled in the University of California, Berkeley, but left his pre-law studies within the first six weeks to found a sheet metal distribution company. He enjoyed early success and invested $7000 in 1927 in an orange juice bottling plant in Fullerton, California which was insolvent and renamed it Val Vita Food Products Company. He soon added other fruit and vegetables to the product lines and purchased canning equipment.
As one of the first of his significant corporate moves, Simon sold Val Vita to Hunt's Foods in return for a controlling interest in the combined business. By 1943 he changed the company's name to Hunt's Foods and ran it with strict cost-controls and an unorthodox approach to marketing. During and after World War II, Simon focused on product visibility. Uncharacteristically for a food company at the time, he acquired full page advertisements in Vogue and Life magazines with full-color photos of Hunt's ketchup bottles and tomato sauce cans. His aggressive advertising ensured the company's slogan "Hunt for the best" was prominent. His marketing strategy worked, and by 1945 Hunt Foods became a household name and one of the largest food processing businesses on the West Coast. Hunt's is now part of ConAgra Foods, Inc..
With the growing profits from Hunt Foods, he began buying stock in other undervalued companies with growth potential, many of which were still undervalued following the loss of confidence in equities after the Great Depression. He diversified through acquisition into well known businesses such as McCall's Publishing, the Saturday Review of Literature, Canada Dry Corporation, Max Factor cosmetics, the television production company Talent Associates, and Avis Car Rental, through his holding company Norton Simon Inc. (Norton Simon Inc. was formed in 1968 through the merger of Hunt Foods, McCalls Publishing and Canada Dry Corporation.) Many of these businesses had extensive interests outside the United States. Norton Simon Inc. was later acquired by Esmark in 1983, which merged with Beatrice Foods the next year. Beatrice was sold to ConAgra in 1990.
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