On the Monday after Thanksgiving 1994, Goldsbury announced the sale to his employees and to the public. They felt I was betraying Dave, that I should fire Kit." It reflects our world in ways that are invigorating to some and threatening to others. Christopher “Kit” Goldsbury, 76, is No. Beaumont Is Brimming With Vibrant Murals. SAN ANTONIO - Billionaire Christopher "Kit" Goldsbury has been accused of negligence and wrongful death by the widow of an employee who was killed in … She once lived in a trailer park in Christiansburg, Va. and never worked for Pace Foods or Pace & Sons Syrup. I remember how nervous Linda was. "He liked to party," muses Margaret Bosshardt Pace Willson, the first wife of David Pace and Goldsbury's former mother-in-law. Goldsbury acted generously with his employees, giving each a month's salary for every year they had worked for the company. Since his divorce from Linda Pace, Goldsbury has not remarried, but has kept the company of a woman named Angela Aboltin. In 1977 Kit became president of the business. Like many of the boys he grew up with--and who still make up his circle of friends--Goldsbury attended the Texas Military Institute, then a private Episcopal academy for boys. Over time, David experimented with 18 other products, like pickles, jellies and chile con quesa. The wife and ex-wife of an employee of San Antonio billionaire Christopher "Kit" Goldsbury accused Goldsbury and his wife of negligence in a fatal crash. Either way, Margaret says that she sold the company for less than it was worth in exchange for a promise that the company would not be sold out of the family. "They told me I shouldn't push Kit because he would never be a businessman, that he was a child. Once in control, Goldsbury set in motion a plan to take Pace Picante Sauce national. Her lawyer, Seagal Wheatley, insists that Linda "absolutely not, never" had any concern that she was undersold. As told to Jan Jarboe Russell by Linda Pace, 57, who founded ArtPace—a nonprofit foundation for contemporary art in San Antonio—in 1993. Goldsbury can be backing the Pearl through his personal equity company Silver Ventures, which he founded after selling Speed Foods, producer of Speed Picante salsa, to Campbell Soup in 1994 for $1. The gamble worked. Over time, I started seeing a psychotherapist who emphasized dream therapy. Her home, most of which was built in 1922, sits on a little more than two acres. Kit Goldsbury was awarded the San Antonio Business Journal's first Business Person of the Year award for his work at Pearl and Hotel Emma, his biggest accomplishment of … She encouraged me to come home. One even threw her out of his office when she appealed to him, a move which still raises her ire. My style was hard-edged and more abstract. Consequently, I did not graduate from Trinity until 1980. His bounty from the sale of Pace bought Goldsbury's way onto the Forbes 400 list, a distinction he does not relish. After she remarried in 1981, to the artist Robert Williams Willson, Margaret sold Pace to Goldsbury and her daughter. I decided to leave my marriage for many reasons. I realized that I would spend the rest of my life fostering my own life as an artist as well as the creativity of others. I divorced my husband to follow my true passion: art. His mother, Margaret Barclay Goldsbury, was from a wealthy banking family and had been elected Queen of San Antonio's historic Fiesta parade--an honor reserved for young ladies of important families by a male association called the Order of the Alamo. Her husband hired two nurses to … We report on vital issues from politics to education and are the indispensable authority on the Texas scene, covering everything from music to cultural events with insightful recommendations. I took her advice and dropped out of college my senior year. These were the kinds of things that Kit just couldn’t understand. His public philanthropic gestures have been scarce and low-key. Or perhaps Goldman negotiated one heck of a deal. We didn’t know much about AIDS at the time, but I was alarmed by the toll that it was taking in San Antonio, especially on the local arts community, and wanted to do something tangible to alleviate the suffering. At first Kit was miserable, because he has terrible allergies, and the smell of the peppers and onions aggravated them. By then my parents had divorced, and my mother had bought out my father’s share of the business. As for Pace Foods, since Goldsbury sold the company, its market share in salsa has slipped to second, behind Tostitos, and sales have stagnated at around $220 million annually. "Oh, the poor Pace family is just a mess," laments Jean O. The Children's Hospital of San Antonio Keepsake Insert Published in the San Antonio Business Journal May 20, 2016 Kit wasn't, but she felt they were really out on a limb.". On Christmas Day in 1966, Kit asked me to marry him and gave me an engagement ring. Jean Pace recalls that Goldsbury spent an entire afternoon at the bedside of her ailing husband fondly recounting stories of Pace Foods' early days. Others say they were told first. In 1989, Kit Goldsbury, the Paces' former son-in-law, became sole owner of Pace Foods, where he had worked since 1969. In 1988, Linda and Kit separated, a heartbreak that those close to him say he has never gotten over. But not before she was ordered to post a $2,500 bond to pay Goldsbury's legal expenses. "Kit was just a genius at relating to people," recalls Margaret Willson, 79. He's also given $265,000 to the San Antonio Museum of Art and $43,500 to a drug abuse program. When my father, David Pace, started Pace Foods, in 1947, he did it with financial backing from my grandmother, Hedwig Bosshardt. "We looked at the value of the company very, very carefully," Wheatley said. "'White trash looking for money,' that's what Margaret calls us. His investments have been paying off and in return, he made a record $35 million donation to the Culinary Institute of America in 2007. I didn't know them and I saw no reason that I should do anything for them versus somebody else on the street.". You may opt-out by, The Leukemia & Lymphoma Society BrandVoice, The Next Step | Small Business Video Series, Maison Christian Dior Is Honoring Iconic Hotel Du Cap-Eden-Roc, Bordeaux Wine Vintage 2020 Completes A Winning Hat Trick, Bordeaux Wine Vintage 2020 Is A Silky Delight, The Deadly Consequences Of Medicine’s Coded Language, Elon Musk’s SpaceX Is Launching An Actual Dogecoin Mission To The Moon In 2022, Who Owns The AAPI Brand? "Kit is Gordon Gekko," he says, referring to the LBO dealster of the film Wall Street. By then I was working regularly in my studio as an artist, building my own collection of contemporary art, and getting to know more than one hundred artists from around the world. I remember sitting in our small apartment after Kit had gone to work, wondering, “Is this all there is?”. My father never let up on him, and he stayed on the line for six months. A Pair of Thieves Broke Into a Houston Art Museum, Then Escaped by Boat, Miranda Lambert on the Most Unapologetically Texas Album of Her Career, Why a Former Anti-Vax Influencer Got Her COVID-19 Shot, Inside Texas’s State High School BBQ Championship, from Fire Management to Flirting, The Baffling Experience of Living With Long COVID, Historic 6666 Ranch Almost Twice the Size of Chicago Gets the Perfect Steward, Love and Death in Silicon Prairie, Part I: Candy Montgomery’s Affair, 50 Cent Is Texas’s Newest Celebrity Transplant. I made a good deal myself. He since has been listed among Forbes Magazines's 400 richest … But the success created tensions between David, who felt Pace Foods should stay small, and son-in-law Goldsbury, who wanted to concentrate on salsa and sell the bottles as fast as people could scoop it up onto their tortilla chips. "It was logical the way it worked out," says Paul Pace, 51, a renowned San Antonio hand surgeon. When the historic brewery ceased operations in 2001, Kit Goldsbury and his Silver Ventures team purchased the 22-acre campus with a vision to revive the area as a destination in itself. Goldsbury, 56, is a kind of mystery man. Goldsbury and his wife, Angela, who oversee the foundation, did not attend Thursday's announcement. IN 1987 I DECIDED TO DIVORCE Kit Goldsbury, my husband of twenty years, the father of my two children, and the man who made my family’s business, Pace Picante Sauce, tremendously successful. He started out on the production line like everyone else, cutting up fresh vegetables for the salsa. 1425 on the list with a real-time net worth of $1.7 billion. But none of these activities were serious art-making, and I desperately wanted more. But somewhere deep inside, I also knew there was a hidden center pole—my identity—and that I had lost sight of it by conforming to the expectations of my era. Indiana had the highest population of Goldsbury families in 1840. I am part of that stoic, silent generation of Texas women who came of age in the fifties. "It's a sad day for San Antonio and those people that are out on the street. The business was a family affair from the start. It's truly what you would call a compound. By then Kit had graduated from Trinity University with a degree in political science. She says David always maintained that he discovered the stuff in "a dive Mexican restaurant" in San Antonio. These are their "homesteads". After twenty years of wondering, "Is this all there is?" "Kit and Linda had to mortgage everything they owned for a $14 million note. His handpicked allies on the board of directors tried to block Margaret from anointing Goldsbury. Your comment . Review Goldsbury Kit Barrister. In 2009, he sold Ecce Panis, an artisanal bread maker, to Campbell again for a reported $65 million. Pace Foods had the largest share, 27%, of a $640 million annual market. Goldsbury didn't attend a Campbell-sponsored send-off for the workers, though other Pace veterans did. "Everybody got screwed in that deal except Kit," rants James Ward Pace Jr., David Pace's nephew. Not so, says David Pace's widow Jean. "Kit just couldn't understand why David didn't do more with it," says Bennett. In the mid-eighties I contacted Robert “Papa Bear” Edwards—a heterosexual man who owned a gay bar in San Antonio and who had emerged as an activist on behalf of AIDS victims—and asked what I could do to help. As a result of the settlement, I gave up my share of Pace Picante Sauce. Did Goldsbury owe them some of the money, even as a goodwill gesture to the Pace name and tradition?
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