The Franchise Approach
One of our favorite approaches has been investing in great consumer franchises that are “masked” by a corporate name. For example, years ago we invested in Stokley-Van Camp. We were attracted to Stokley not because we were enamored with their baked beans business, but because Stokley owned Gatorade, a valuable but relatively unknown business at the time. We believed the Gatorade brand was worth significantly more than the entire market value of the company. Gatorade was eventually purchased by Quaker Oats.*
* Past performance is no guarantee of future results. These results are unaudited. The Stokley-Van Camp example is for illustration purposes only and is not indicative of actual results of most investments made by Boyar Asset Management.