California Packing Corporation
George Newell Armsby | |
|---|---|
| Born | 10 August 1876 Evanston, Illinois, U.S. |
| Died | 25 October 1942 (aged 66) Manhattan, New York City, U.S. |
| Occupation | Business executive |
| Known for | Corporate consolidations; founding California Packing Corporation; chairman of Curtiss-Wright; leadership roles at Universal Pictures and Bancamerica-Blair; co-founder of Transcontinental Air Transport (later TWA) |
George Newell Armsby (August 10, 1876 – October 25, 1942) was a prominent American business leader recognized for orchestrating significant corporate consolidations during the early 1900s. He is particularly noted for merging various California food-packing enterprises to create the California Packing Corporation, which marketed well-known brands such as Del Monte and Sunkist.
Armsby also held leadership roles on the boards of Curtiss-Wright—where he served as chairman—Universal Pictures, and Bancamerica-Blair. Together with John Cheever Cowdin, he managed Universal Pictures and co-established Transcontinental Air Transport, which later evolved into TWA.
Early life
Born in Evanston, Illinois, Armsby was the son of James K. Armsby, a pioneer in the food-packing industry.[1] He started his professional journey at his father’s firm, J.K. Armsby Co., and in 1898 married Leonora Wood, whose father was mining entrepreneur Tingley Sylvanus Wood.
California Packing Corporation
During the mid-1910s, Armsby devised a strategy to consolidate California’s food-packing companies into a single corporation. By obtaining $16 million in capital from Blair & Co. and William Salomon & Co., he established the California Packing Corporation, securing a dominant position within the food sector.[2]
Blair-Salomon
After serving on the War Industries Board’s Priorities Commission during World War I, Armsby played a key role in merging his financiers Blair & Co. and William Salomon & Co., forming Blair & Co. Inc. This company was subsequently acquired by Transamerica Corporation, connecting Armsby professionally with Amadeo Giannini, an influential figure in his later endeavors.
Bank of America-Blair
Armsby was instrumental in uniting Giannini’s Bank of America with Blair amid the Great Depression, resulting in the creation of Bancamerica-Blair in 1931—a significant entity on Wall Street during that period.[3][4]
McKesson and Robbins
In January 1940, Armsby headed the committee representing holders of the $3 cumulative preference shares of McKesson and Robbins, providing guidance on a restructuring proposal.
Through the 1940s, Armsby remained active in business, continuing his involvement with Curtiss-Wright and Universal Pictures. Additionally, he was named as a defendant in an antitrust lawsuit targeting the film industry during the late 1930s.
Personal life
As his business interests grew, Armsby's private affairs also drew public interest. His marriage to Leonora concluded with a divorce in 1929, after she alleged that Armsby had deserted her in New York City back in 1924. The divorce agreement, valued at $1,000,000, received significant media coverage. Leonora retained the Armsby surname until her passing in 1962.
In March 1930, at the age of 54, Armsby entered into marriage with Colette Touzeau, who was said to have been a former showgirl. Their wedding took place in Los Angeles, and they stayed married until his death twelve years afterward.
Death
Armsby passed away on October 25, 1942, at Mount Sinai Hospital located in Manhattan, at the age of 66.
- ↑ Detwiler, Justice B., ed. (1929). Who's Who in California: A Biographical Directory, 1928-29. San Francisco: Who's Who Publishing Co. p. 149.
- ↑ Bowdidge, Robert. "California Packing Corporation".
- ↑ "Bancamerica-Blair Corp".
- ↑ "BANCAMERICA-BLAIR DROPS NINE OFFICERS; Sweeping Shake-Up Results From Giannini's Victory in Fight for Control. ARMSBY BECOMES HEAD J.M. Grant, Recently Made Transamerica's President, Is Elected Vice Chairman. ONLY 4 OF OLD LIST HELD Several in the Ousted Group Band Together, With Offices In Financial District". The New York Times. 16 March 1932.