---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-107300"
form_type: "8-K"
ticker: "EACO"
cik: "0000784539"
company_name: "EACO CORP"
filed_at: "2023-10-06T23:59:59+00:00"
generated_at: "2026-06-10T03:41:32.387683+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# EACO subsidiary agrees to buy corporate HQ property from CEO's trust for $31M cash

## Summary
- Bisco Industries, wholly-owned subsidiary of EACO, entered Purchase Agreement for Anaheim HQ property from trust controlled by CEO Glen Ceiley for $31M cash.
- Transaction expected to close within 60 days; property currently houses corporate headquarters and Anaheim distribution center.
- Company states the purchase will utilize cash position and reduce corporate overhead expenses.
- Purchase price $31M; deposit $25K; closing scheduled for October 13, 2023 or as mutually agreed.

## SEC filing metadata
- accession: 0001104659-23-107300
- form_type: 8-K
- ticker: EACO
- cik: 0000784539
- company_name: EACO CORP
- filed_at: 2023-10-06T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/784539/000110465923107300/0001104659-23-107300-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/784539/000110465923107300/tm2327940d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-107300
- JSON: https://secwatch.observer/filing/0001104659-23-107300.json
- Plain text: https://secwatch.observer/filing/0001104659-23-107300.txt

## Key facts
- Material Agreements
  EACO CORP entered into Purchase Agreement for Real Property and Escrow Instructions with Glen F. Ceiley and Barbara A. Ceiley Revocable Trust valued at $31,000,000 (effective 2023-10-05).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Glen F. Ceiley and Barbara A. Ceiley Revocable Trust
  - Value: $31,000,000
  - Effective: 2023-10-05
  source text: On October 5, 2023, Bisco Industries, Inc. (“Bisco”), a wholly-owned subsidiary of EACO Corporation (the “Company”), entered into a Purchase Agreement for Real Property and Escrow Instructions (the “Purchase Agreement”) with the Glen F. Ceiley and Barbara A. Ceiley Revocable Trust (the “Trust”), a trust beneficially owned and controlled by Mr. Glen F. Ceiley, the Company’s Chief Executive Officer, Chairman of the Board and major stockholder. Pursuant to the Purchase Agreement, the Trust agreed to sell the real property located at 5037/5065 East Hunter Avenue, Anaheim, California 92807 (the “Existing Property”), which currently houses the Company’s corporate headquarters and Anaheim distribution center, for a purchase price of $31,000,000 in cash (such transaction, the “Property Purchase”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/784539/000110465923107300/0001104659-23-107300-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.