Career Education Corporation Closes Acquisition of California Culinary Academy.Business Editors HOFFMAN ESTATES, Ill.--(BUSINESS WIRE)--April 3, 2000 Career Education Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CECO) today announced it has closed its acquisition of the California Culinary Academy  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. , Inc. (NASDAQ:COOK). California Culinary Academy (CCA) had approximately 650 students at its core campus in San Francisco as of December 31, 1999 and will continue to operate under its current name. CEC (Central Electronic Complex) The set of hardware that defines a mainframe, which includes the CPU(s), memory, channels, controllers and power supplies included in the box. Some CECs, such as IBM's Multiprise 2000 and 3000, include data storage devices as well. announced on December 7, 1999 that it had signed a definitive agreement to acquire CCA. It is CEC's second acquisition of 2000. CEC acquired The Cooking and Hospitality Institute of Chicago (CHIC) on February 2. The CCA acquisition makes Career Education Corporation--with eight culinary arts schools in the United States--one of the world's largest providers of culinary arts instruction. CCA offers an Associate of Occupational Studies Degree in the Culinary Arts and a Professional Baking and Pastry Program. CEC's other culinary campuses include: Scottsdale Culinary Institute in Scottsdale, Arizona; California School of Culinary Arts in South Pasadena, California South Pasadena is a city in Los Angeles County, California, United States. As of the 2000 census, it had a population of 24,292. History South Pasadena was established on March 2, 1888. ; Le Cordon Bleu For the Schnitzel variant, see . Le Cordon Bleu (French for "blue ribbon") is an international group of hospitality management and cooking schools teaching French cuisine. Culinary Program at Brown Institute in Mendota Heights, Minnesota Mendota Heights is a city in Dakota County, Minnesota, United States. The population was 11,434 at the 2000 census. The St. Thomas Academy boys school is located here, as well as Henry Sibley High School. ; McIntosh College in Dover, New Hampshire Dover is a small city in Strafford County, New Hampshire, in the United States of America. The population was 26,884 at the 2000 census. It is the county seat of Strafford County. Dover is home to McIntosh College. ; International Culinary Academy in Pittsburgh, Pennsylvania; Western Culinary Institute
Career Education Corporation is one of the largest providers of private, for-profit, postsecondary education in North America. CEC currently operates 28 campuses in 15 states and two Canadian provinces. CEC schools enjoy long operating histories and offer a wide variety of bachelor's degree, associate degree and diploma programs in career-oriented disciplines within CEC's core curricula of visual communication and design technologies, information technology, business studies and culinary arts. The purchase price of $5.25 for each California Culinary Academy share will be paid by the Harris Trust Company of New York, the paying agent. Letters of transmittal will be mailed to former CCA shareholders shortly. Former CCA shareholders should direct any questions to Harris Trust Company of New York at (312) 360-5376. The forward-looking statements contained in this release are based upon various assumptions, and certain risks and uncertainties could cause actual results to differ materially from those stated. Factors that could cause such differences include those matters disclosed in Career Education Corporation's and California Culinary Academy's respective filings with the Securities and Exchange Commission (SEC). Career Education Corporation and California Culinary Academy assume no obligation to update those forward-looking statements. |
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