Chapter 730: 251. Remove the firewood from under the pot
Although Donnie did not agree to meet with John Hartford, he secretly met with two important directors from A&P.
Lori Walton, Poole Purcollen!
Both were among the original shareholders of A&P and had played a crucial role in developing the company alongside George Hartford. However, now advanced in years and lacking ambition, they were content to rest on their laurels and enjoy the wealth that A&P had brought them.
At the onset of this promotional war, they had rejected John Hartford’s suggestions, but when A&P’s stock price plummeted, they started criticizing John Hartford for his slow response to the situation!
In the same way, today, they came to Kansas City in secret to meet with A&P’s rival, Donnie Block!
“Mr. Walton, we met last year in Atlantic City and haven’t seen each other since. Did our service in Atlantic City disappoint you so that you’ve stayed away that long?”
...
“Mr. Purcollen, last time you won a round, but you never gave me the chance to win back, that’s not very nice!”
Upon seeing them, Donnie greeted them enthusiastically!
As the most renowned treasury in the United States, Atlantic City attracted the country’s wealthy to play, and neither Lori Walton nor Poole Purcollen was an exception. With money, naturally, enjoyment came first!
So this meeting with them was not Donnie’s first encounter either!
“Mr. Block, with your Apollo Chain going from its foundation to grand opening within the past year, where would we have found the time to visit Atlantic City?” Lori Walton said with a bitter smile.
“It’s a good thing I won against you last time, Mr. Block, or I would be very upset now!” Poole Purcollen joked.
After the exchange of pleasantries, they clearly divided into groups and sat on the sofas.
“Mr. Block, hasn’t John called you yet? I heard that the two of you haven’t met in person, is that true?”
Lori Walton, although causing John Hartford considerable trouble in the operation of A&P, did not want A&P to face any issues. After all, problems with A&P meant problems with his wealth.
Poole Purcollen shared the same sentiment, “Mr. Block, we have put pressure on John in the boardroom, and he has said he is willing to pay a price. The retail market in the United States still has great potential, and there’s really no need for our companies to fight to the death over it. We can easily share the US retail market.”
Lori Walton added, “That’s right, Mr. Block, I’ve heard that several companies are preparing to enter the retail market. If our struggle ends up benefiting a third party, wouldn’t that be laughable?”
Donnie nodded and said, “I know both of you are looking out for Apollo Chain and A&P. That’s why I invited you here, to discuss a perfect solution to the problem you’re worried about!”
Hearing Donnie’s words, both Lori Walton and Poole Purcollen lit up. If they could solve the problem that John Hartford couldn’t, it would significantly boost their prestige within A&P.
It was this line of thinking that led them to miss the point of Donnie’s words. Donnie spoke of solving their worries, not A&P’s problems!
“If that’s the case, then that’s wonderful. As long as your demands aren’t too excessive, Mr. Block, we can assure you we can convince the other directors. Even if it means selling off Kav Foods’ shares, it’s not an issue!” Lori Walton said happily.
Donnie laughed with pleasure, “I’m relieved to hear that from you both, but I’m not interested in Kav Foods’ shares, instead, I want to buy your shares in A&P!”
This was Donnie’s method for resolving the situation.
Coexisting peacefully with A&P could spare Donnie from dealing with their issues for the time being, but it was still a potential problem. The real permanent solution was for Donnie to gain control of A&P, and after integrating the resources of Apollo Chain and A&P, he would truly dominate the US retail industry.
At that point, Donnie could let Apollo Chain sprint down the path of expansion.
Furthermore, after gaining control of A&P, as chairman, Donnie could use A&P’s profits for dividends, meaning Apollo Chain’s expansion wouldn’t require funds from other industries he owned.
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This would overwhelm Apollo Chain, potentially allowing it to surpass A&P in both store numbers and service quality. Whether it meant selling off A&P’s assets or its shares, there would be no loss for Donnie in this affair!
This was actually a very typical strategy in the United States in later years.
The second time Coca-Cola entered the East market, there were many beverage brands within the Eastern Country. If Coca-Cola had used normal business methods, conquering the market would have been difficult, as the Eastern Country was vast and each region had its own brand protection policies.
At that time, led by Coca-Cola, foreign beverage brands conceived a strategy.
They decided to invest in these domestic beverage brands, proclaiming they brought more advanced management and more capital as foreign investors.