Borden Company

Borden Company. Founded in 1857 by Gail Borden Jr., the company became an American industrial powerhouse, most famous for its Elsie the Cow mascot and dairy products. Its pioneering work in condensed milk and later diversification into chemicals and consumer goods made it a household name for over a century. The firm's decline culminated in a leveraged buyout by Kohlberg Kravis Roberts in 1995 and the eventual dissolution of its iconic brands.

History

The company's origins trace to Gail Borden Jr.'s 1856 patent for a process to create condensed milk, leading to the founding of the New York Condensed Milk Company in 1857. This innovation proved vital in supplying Union Army troops during the American Civil War, securing the firm's early growth. Expansion followed through strategic acquisitions like the Meyer Brothers Company in 1929 and the construction of a major chemical plant in Geismar, Louisiana. Under the leadership of executives such as Augustus B. Herrmann, the corporation diversified beyond dairy, entering the adhesive and vinyl markets through the purchase of Casco Products Corporation and establishing a significant presence in petrochemicals. By the mid-20th century, it was a sprawling conglomerate, but faced increasing competition from rivals like Kraft Foods and Dean Foods.

Products and brands

For decades, the firm's identity was anchored in dairy, with flagship brands including Borden Milk, Borden Ice Cream, and Eagle Brand sweetened condensed milk. The iconic Elsie the Cow, introduced at the 1939 New York World's Fair, became one of America's most recognized advertising symbols. Beyond dairy, its portfolio expanded to include Creamette pasta, Bama jellies and preserves, Realemon lemon juice, and Lady Borden premium ice cream. The Chemical division produced Elmer's Glue-All, a market leader in adhesives, and various resin and polyvinyl chloride products under the Borden Chemical name. Snack lines like Cracker Jack and Drake's Cakes were also part of its holdings at different times.

Corporate affairs

Headquartered in Columbus, Ohio for much of its later history, the corporation operated with a decentralized structure, managing a vast network of production facilities and dairy plants across the United States. Key subsidiaries included Borden Foods Corporation and Borden Chemical, Inc.. In 1986, it acquired the consumer products division of ITT Corporation, adding brands like Wise Foods and Creamette. However, financial struggles led to a major restructuring in the early 1990s, including the sale of its North American dairy operations to a group led by Gary K. B. Kohn. The end came in 1995 when the heavily indebted remains were acquired in a leveraged buyout by Kohlberg Kravis Roberts, which subsequently sold off the remaining assets to companies like International Home Foods and A. E. Staley Manufacturing Company.

Controversies and legal issues

The company faced significant legal and public relations challenges, particularly in the 1980s and 1990s. It was implicated in the Winston-Salem PCB landfill controversy related to its chemical operations. A major scandal erupted in 1989 following a *60 Minutes* report alleging widespread deceptive labeling on its Fruit Float product. The firm also became a central case study in corporate failure due to a disastrous debt-financed acquisition spree under CEO R. J. Ventres, which left it vulnerable to takeover. Furthermore, its Geismar, Louisiana chemical plant was cited for multiple environmental violations by the Environmental Protection Agency.

In popular culture

Elsie the Cow remains the company's most enduring cultural legacy, appearing in countless advertisements, comic books, and even a float in the Macy's Thanksgiving Day Parade. The brand's jingle, "Borden's—if it's Borden's, it's got to be good," became a familiar tagline in mid-century American advertising. The corporation itself was featured in a 1992 episode of the television show *L.A. Law*, which centered on a fictional takeover attempt. Its dramatic collapse was analyzed in business publications like *The Wall Street Journal* and served as a cautionary tale in management texts.

Category:Food and drink companies of the United States Category:Companies based in Columbus, Ohio Category:Companies established in 1857 Category:Companies disestablished in 1995