REDFORD TOWNSHIP, Mich. (AP) - A minority-owned financial services company is taking over a popcorn business in Detroit that lost major clients after its owner posted a racially charged comment online that trivialized the killing of George Floyd in Minneapolis.
Harris Financial Group announced Thursday that it had signed a letter of intent to acquire the Detroit Popcorn Company, which sells popcorn tins and concessions equipment. The deal is expected to close in 30 days, the Detroit Free Press reported.
Owner Evan Singer made a disparaging remark on Facebook that trivialized the way that Floyd, a handcuffed black man, died with a white police officer’s knee on his neck. The widely shared post has since been deleted. Nevertheless, at least two major clients - the Detroit Zoo and Quicken Loans - subsequently ended their relationships with the company.
The move comes in the wake of protests nationwide over Floyd’s death and wider issues of police brutality and racism. Many early protests devolved into violence and vandalism, particularly in big cities. In the comment, Singer appears to be reacting to the destruction, saying: “They wonder why they need knee’s on there necks.”
David Farber, who sold the company to Singer 18 months ago, said last week that Singer’s comment contravened their sale agreement and that he would buy the 97-year-old company back and sell it to an African American investor. Under the agreement, if Singer made any comments that harmed the integrity, good name or reputation of the Detroit Popcorn Company, Farber could take back control.
Singer told WJBK-TV earlier this month that the comment “had nothing to do with race,” but that he regretted writing it.
Farber is acting as a facilitator of the sale to Harris and will not hold an ownership stake in the company.
“I’m excited about this rare opportunity to continue the company’s legacy, and remain committed to the high level of quality and service that its customers have come to expect,” Harris Financial Group Managing Partner Ken Harris said in a news release.
Farber said a third change in ownership in less than two years is the right move for the company.
“I want to see it succeed and I want it to be around for another 100 years,” he said.
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