Mergers, and Acquisitions

Cessna as a company has not been an independent company for approximately 30 years.  In 1985, it was bought by General Dynamics, a large aerospace and defense company, who then later sold it to Textron is 1992.  The initial agreement between Cessna and General Dynamics was one where Cessna would be a wholly-owned subsidiary, retaining much of the same structure and leadership team it had in place as an independent company.  While all the details are not known, it appears this move was a product extension merger, with both companies set to benefit from the experience and product lines of the other.  Cessna was a very large and experienced producer of general aviation aircraft, and General Dynamics had the experience and leadership to be able to pull Cessna out of a struggling time in its history.  For several years prior to the merger, Cessna had not been profitable.