INDYCAR Photo by Joe Skibinski
INDYCAR Photo by Joe Skibinski

IndyCar owners sell company that created Hulman family fortune

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INDIANAPOLIS – Without Clabber Girl Baking Power making the Hulman family of Terre Haute, Indiana, into one of the wealthiest families in Indiana in the late 1800s and throughout the 20th century, there probably wouldn’t be an Indianapolis 500 in existence today.

That is why Wednesday morning’s news that Hulman & Company was selling Clabber Girl to B&G Foods of Parsippany, New Jersey, was important.

The Clabber Girl brand allowed Tony Hulman to purchase the dilapidated and shuttered Indianapolis Motor Speedway from Eddie Rickenbacker in November 1945 and build the Indianapolis 500 into the world’s largest single-day sporting event beginning in 1946.

The Indianapolis Motor Speedway was built in 1909 and began hosting the Indianapolis 500 beginning in 1911. With the exception of skipping a year during World War I, it ran every Memorial Day until World War II shut down the facility from 1942-45.

“The Hulman-George family takes great pride in the Clabber Girl brand’s success, history and critical role in the development and rich cultural fabric of Terre Haute,” Hulman & Company chairman Anton Hulman “Tony” George said. “Clabber Girl will always be a cherished and celebrated part of our legacy, and we’re excited we’ve found a strong steward for its very bright future.”

B&G Foods, Inc. (NYSE: BGS), is a leading manufacturer, seller and distributor of shelf-stable and frozen foods across North America.

“Our core focus is the pursuit of world-class motorsports competition and entertainment,” Hulman & Company president and CEO Mark Miles said. “This decision positions us to fully focus on the continued direction and growth of INDYCAR, the Indianapolis Motor Speedway and IMS Productions. It also provides Clabber Girl with a well-prepared owner ready to use its vast expertise and considerable resources to accelerate the growth of the newest member of its impressive portfolio.”

Like Clabber Girl, B&G Foods has spent more than a century in the food business. The company maintains more than 50 brands and 2,500 employees across North America. This includes Ortega, Green Giant, Cream of Wheat, Mrs. Dash, Back to Nature and many others.

“We are excited to join the B&G Foods family as we add our iconic Clabber Girl brand to its impressive portfolio of brands consumers both recognize and trust,” Clabber Girl president and COO Gary Morris said. “Clabber Girl will benefit from the knowledge and reach B&G Foods will provide as a seasoned food manufacturer and distributor. Together, we will continue to grow this historic business.”

Guggenheim Securities, LLC acted as Hulman & Company’s financial advisor for this transaction.

Keating stripped of Le Mans GTE-Am win; No. 68 Ganassi entry also disqualified

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FIA stewards announced Monday that two Ford GT entries have been disqualified from this year’s 24 Hours of Le Mans, including the GTE-Am class-winning No. 85 entry from privateer Keating Motorsports.

Also DQ’d was the factory No. 68 Chip Ganassi Racing entry of Joey Hand, Dirk Mueller and Sebastien Bourdais, which initially finished fourth in the GTE-Pro class.

Both entries were found in violation of fuel capacity regulations, with the No. 85 entry also failing to meet the minimum refueling time during pit stops.

The refueling system on the No. 85 entry, driven by Ben Keating, Jeroen Bleekemolen and Felipe Fraga, measured a time of 44.4 seconds during a stop, just shy of the minimum required time of 45 seconds.

As a result, the team was initially issued a 55.2-second post-race penalty by officials, which elevated the No. 56 Team Project 1 Porsche 911 RSR of Joerg Bergmeister, Patrick Lindsey, and Egidio Perfetti to the class win.

The time penalty was calculated by the difference in the refueling time (0.6 seconds) multiplied by the amount of pit stops made by the team (23), then multiplied by four.

The No. 85 entry was set to finish second in class, but then received an outright DQ after its fuel capacity was also revealed to be 0.1 liters above the maximum permitted capacity of 96 liters.

As for Ganassi’s No. 68 entry, it was found to have a fuel capacity of 97.83 liters, which is above the maximum allowed capacity of 97 liters for the GTE-Pro Fords.

The No. 67 Ford of Andy Priaulx, Harry Tincknell, and Jonathan Bomarito subsequently moves up to fourth, and the No. 69 Ford of Scott Dixon, Ryan Briscoe and Richard Westbrook moves up to fifth.

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