Historic Black Enterprise Magazine Covers: Reginald Lewis’ $985 Billion Deal, Nov 1987

Learn more about this groundbreaking and historic deal

Reginald Lewis’ TLC Group acquires Beatrice International Foods in a $985 million leveraged buyout, the largest offshore transaction at the time. The deal creates TLC Beatrice, the first black-owned business to pass the billion-dollar revenue threshold and inspired a generation of African American deal makers on Wall Street.

Editor-in-Chief Derek T. Dingle and Multimedia Editor-At-large Alfred A. Edmond Jr. were among the journalists who broke the story of the business milestone.


  • Jeneffer Burke

    As a 14 year old middle schooler this was the first issue of BE that I had encountered. I was en route to my first day of work and stoppped by the local newspaper deli. There were a multitude of magazines, all geared toward various humanistic pursuits from Home and Garden to Forbes,scientific America to National Geographic. There was also Essence and jet magazines, both placed on the bottom shelves, but were not what I sought at that moment. My first job was in finance working as a stocks/Bonds record keeper at 100 Gold Street at Prudential-Bache Securities. There were few Blacks, and I needed to see more than just the average Caucasian Wall Street face. I needed to see Black power, whether male or female and as I spent the next ten minutes reviewing stacks upon stacks of magazines and international newspapers, there it was, there he was, on the front cover with that spirited smile of power, of knowing, poised, magnificent, there he was my unofficial mentor, Reginald Lewis. I cried, I immediately purchased the issue and absorbed every detail from cover to cover, and within I met Mr. Earl Graves Sr.. It was at this moment that I realized that we as a Black people, the future would be ours. Thank you to all of BE, from its inception to is present stance and its progression forward as our people, the Brothers and Sisters, ancestors of former slaves, without shame, progress forward into our destiny from the prophesied Negro Hyms that continue to cultivate our strength of perseverance. Infinite blessings to you and yours Mr. Graves Sr., your legacy shall continue to empower our future generations.