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NEW YORK — Seneca Investments completed its tender offer for the common shares of San Francisco-based i-shop Organic Thursday.
The New York-based holding company, jointly managed by Omnicom and Pegasus Partners II, purchased nearly 10.5 million shares of Organic, bringing its stake in the company to 93 percent. According to a statement, Seneca soon intends to acquire the remaining shares not purchased in the tender offer for 33 cents per share.
Last fall, Seneca closed a similar acquisition of another Omnicom-backed i-shop, Agency.com
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