The Israel family arrived in Louisiana from France in the late 1800s and began importing coffee beans from South America around 1890. The family grew this business over the subsequent decades and by the early 1970s it had become one of the world’s largest commodity trading firms, operating under the name ACLI. ACLI operated 19 offices across five continents and had expanded its markets into sugar, rubber, cocoa, grain, steel, gold, currencies, futures and government bonds (as a reporting dealer to the Federal Reserve). In 1981, the Israel family merged ACLI with Donaldson, Lufkin & Jenrette (DLJ), the investment banking firm, and the family became major shareholders of DLJ. In 1984 DLJ was acquired by Equitable Life Assurance Company.

The Israel family’s private equity investing experience began in 1956, when it acquired 11 drug stores in Ohio. Under the family’s oversight, this chain grew and was merged in 1976 into People’s Drug Stores, Inc., a NYSE listed company. The Israel family became the controlling shareholder of People’s and helped People’s become the fifth largest drug chain in the country until it was sold in 1984 to Shoppers Drug Mart, the Canadian drug store subsidiary of British American Tobacco.

Upon the sales of DLJ and People’s Drug Stores in 1984, the family company, Ingleside Investors (also known as A.C. Israel Enterprises), became a financial holding company.

Upon the sales of DLJ and People’s Drug Stores in 1984, Ingleside Investors became a financial holding company.

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