Amfac, Inc.

Amfac Hawaii, LLC was a land development company in Hawaii. Founded in 1849 as a retail and sugar business, it was considered one of the so-called Big Five companies in territorial Hawaii. At its peak it owned 60,000 acres (240 km²) of land, and was a dominant sugar company in Hawaii as well the founder of one of its best known department stores, Liberty House. It now owns 5,000 acres (20 km²) of land in Kaanapali on the island of Maui and is now known as Kaanapali Land, LLC.

German immigrant Heinrich Hackfeld and his brother in law J.C. Pflueger founded H. Hackfeld and Co. in 1849 in Honolulu. Hackfeld later became the business agent for Koloa Plantation on the island of Kaua'i. During World War I, the company was seized by the U.S. government along with other assets owned by Germans. It was later sold to a consortium of Hawaii business men in 1918, which changed the name to American Factors, Inc.. In 1966, the name was further shortened to Amfac, Inc.

Amfac was bought by Chicago-based JMB Realty in 1988 for USD $920 million. As the sugar industry in Hawaii declined after statehood, so did the fortunes of Amfac. Amfac's assets were gradually sold off. Liberty House went into bankruptcy in 1998 (it was later acquired by Federated Department Stores and now carries the Macy's brand name), and the company went into Chapter 11 bankruptcy in 2002.

ources

* [http://www.time.com/time/magazine/article/0,9171,877962,00.html Amfac's Wide Swing]
* [http://query.nytimes.com/gst/fullpage.html?res=940DE3D61F3BF93AA25752C1A96E948260 Amfac Holders Back Bid by JMB]
*Harry W. Brooks