- Associated Press - Friday, October 2, 2015

BURLINGTON, Vt. (AP) - The University of Vermont has received a $20 million donation - its largest individual gift ever - and renamed its business school after the donor.

UVM announced the gift on Friday from Steven Grossman, a 1961 graduate. The school will be called The Grossman School of Business.

UVM says the donation from the Grossman Family Foundation will pay for three endowed academic positions. The school says the gift will also provide resources to support teaching and program priorities.

Grossman was CEO of Southern Container Corp., a business started by his grandfather in 1904 that was sold in 2008. He is now a trustee of the Grossman Family Foundation - a charitable organization - in Cos Cob, Connecticut.

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