Delicious Brands, Inc. Announces: Carl Icahn Purchases Substantial Ownership Interest.DES PLAINS, Ill.--(BUSINESS WIRE)--April 14, 1999-- Delicious Brands, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DBSI DBSI Deutsche Bank Securities, Incorporated ) announced today that, through a privately negotiated transaction, an investment entity affiliated with Carl Icahn and Icahn Associates Corp. has purchased an equity stake in Delicious Brands, Inc. and will be appointing two Directors to the Company's Board of Directors, including Russell Glass, President of Icahn Associates Corp. Upon closing of the transaction the investment entity may be deemed to be the beneficial owner Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial of approximately 16 percent of the Company's common stock. Terms of this transaction will be available in the Company's 8-K filing with the Securities and Exchange Commission, which the Company intends to file shortly. Michael Kirby, President of Delicious Brands, Inc., said, "We believe our Company has significant growth opportunity through distribution channel expansion, new product line extension, and consolidation via tuck-in acquisitions. We are very encouraged by Mr. Icahn's investment in Delicious Brands and look forward to continuing relationship with Icahn Associates." Delicious Brands is the fifth largest U.S. branded cookie company (according to IRI Iri (ē`rē`), former city, North Jeolla (Cholla) prov., SW South Korea. An agricultural center and transportation hub, it was absorbed into Iksan. Scan Track analysis as of December 31, 1998) and markets such well known brands as Delicious, Frookie, Salerno, and Mama's. Note: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and Section 21E of The Securities Exchange Act of 1934. These forward-looking statements are dependent on a number of factors which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide website at www.kcsa.com. |
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