Eagle Snack is second in the market, with a 6.5 percent share, and Borden, after its snack business divestitures, is at 5 percent.
In 1986, he also was named chairman of the board and chief executive officer for Eagle Snacks, consolidating food operations under his direction.
Kevin F. Bowler, 41, was named president of Eagle Snacks.
In October, Anheuser-Busch said Eagle Snacks had a book value of $240 million but that it expected to get substantially less for the unit.
By the end of 1990 Eagle Snacks dropped out of the BMX scene.
The snacks were in various shapes, sometimes depicting an eagle, hence the name "Eagle Snacks".
Eagle Snacks (peanuts, potato chips, etc.) for which he does television commercials, is presenting him with a $100,000 check.
Eagle Snacks expects a 1995 loss of $25 million.
Eagle Snacks, a subsidiary of Anheuser-Busch, is also entering the field, which already has half a dozen chip makers.
Texas was unsponsored for five months after he left Eagle Snacks.