Printer Friendly

GRACE EXITS MEXICAN FAST FOOD BUSINESS

 GRACE EXITS MEXICAN FAST FOOD BUSINESS
 BOCA RATON, Fla., April 3 /PRNewswire/ -- W. R. Grace & Co.


(NYSE: GRA) announced today an agreement to sell its Del Taco Restaurants, Inc. properties to PepsiCo, Inc.'s (NYSE: PEP) Taco Bell unit. The transaction involves the staged transfer during 1992 of approximately 100 Del Taco and Taco Villa Mexican fast food locations in the Southeast, primarily in Georgia, and in Texas. The staged closings of the transaction are expected to be completed within nine months.
 Grace announced a new worldwide business strategy in 1991, which delineated six core businesses for the company. A Grace spokesman said: "This transaction to divest the Del Taco unit is consistent with the previously announced strategy and will conclude Grace's effort to remove the company from the Mexican restaurant business." In 1986, Grace divested a number of national chains of restaurants in an initial step to reposition the company as a specialty chemicals and health care company.
 Grace is the world's largest specialty chemicals company with a leadership position in health care.
 -0- 4/3/92
 /CONTACT: Chuck Suits of W.R. Grace & Co., 407-362-2600 or 800-GRACE99/
 (GRA) CO: W.R. Grace & Co.; Del Taco Restaurants, Inc.; PepsiCo, Inc.;
 Taco Bell ST: Florida, Georgia IN: LEI SU: TNM


AW-SS -- FL006 -- 4785 04/03/92 10:55 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 3, 1992
Words:219
Previous Article:OTTER TAIL POWER SHELF DEBT, PREFERRED RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:GEORGIA REGIONAL STOCK REPORT FOR MONDAY, MARCH 9


Related Articles
TONY WANG NAMED PRESIDENT OF FOODMAKER INTERNATIONAL
GRACE TO SELL GRACE PETROLEUM STOCK FOR $125 MILLION
PEPSICO'S FRITO-LAY AND TACO BELL DIVISIONS TEAM UP TO LAUNCH TACO BELL PRODUCTS IN SUPERMARKETS
ARBY'S SIGNS LETTER OF INTENT TO ACQUIRE STAKE IN ZUZU; FOCUS WILL BE ON DUAL BRANDING
King Taco Expands Retail Food Service Operations With Lynnwood Restaurant Launch.
Baja Fresh Mexican Grill Says 'Hola' to Oakland; City location is fast growing quick casual restaurant's second in Pennsylvania.
Baja Fresh Mexican Grill Opens First of Two Austin Area Restaurants in Round Rock on Monday January 5, 2004.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters