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  • California Management Review

Can the Virtuous Mouse and the Wealthy Elephant Live Happily Ever After?

By: James E. Austin and Herman B. "Dutch" Leonard
  • Format:Print
  • | Pages:26
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Abstract

What happens when small iconic socially oriented businesses are acquired by large corporations? Such mergers create significant opportunities for creating both business value and substantially expanded social value, but they also pose unusually difficult challenges because the merging entities are often strikingly different in philosophy and operating styles as well as in scale. This article examines three examples—Ben and Jerry's acquisition by Unilever, Stonyfield Farm by Groupe Danone, and Tom's of Maine by Colgate—to ascertain what is distinctive about the merger process and to analyze the elements critical to success. The article offers suggestions on how other companies considering similar arrangements might best manage the process of courtship, developing agreements, and executing effectively within the newly merged entities.

Keywords

Mergers And Acquisitions; Management Style; Agreements And Arrangements; Social Enterprise; Social Issues

Citation

Austin, James E., and Herman B. "Dutch" Leonard. "Can the Virtuous Mouse and the Wealthy Elephant Live Happily Ever After?" California Management Review 51, no. 1 (Fall 2008): 77–102.
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About The Authors

James E. Austin

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Dutch Leonard

General Management
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More from the Authors
  • Wilderness Safaris: Responses to the COVID-19 Crisis By: James E. Austin, Megan Epler Wood and Herman B. "Dutch" Leonard
  • The Risks You Can't Foresee: What To Do When There's No Playbook By: Robert S. Kaplan, Herman B. Leonard and Anette Mikes
  • Wilderness Safaris: Impact Investing and Ecotourism Conservation in Africa By: James E. Austin, Megan Epler Wood and Herman B. "Dutch" Leonard
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