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HERSHEY FOODS TO ACQUIRE INTEREST IN FREIA MARABOU a.s

 HERSHEY FOODS TO ACQUIRE INTEREST IN FREIA MARABOU a.s
 HERSHEY, Pa., April 29 /PRNewswire/ -- Hershey Foods Corporation


(NYSE: HSY) announced today that it has reached an agreement to acquire an 18.6 percent interest in Freia Marabou a.s, the leading Scandinavian chocolate, confectionery and snack food company.
 The interest is being purchased from Orkla a.s, a diversified Norwegian company. The purchase price is approximately $180 million. The transaction is expected to be completed in early May.
 "This agreement to purchase reaffirms and strengthens the close and friendly relationship that has existed between Hershey and Freia Marabou for the past 15 years," said Richard A. Zimmerman, chairman and chief executive officer. "Since 1983 Hershey has successfully marketed Freia Marabou's products in North America, including SKOR toffee bar (called DAIM in Europe). Hershey was also a shareholder of AB Marabou, the leading Swedish confectionery company, which merged in 1990 with Freia a.s, the leading Norwegian confectionery company, to form Freia Marabou a.s. From these relationships, we have developed the highest regard for the management and employees of Freia Marabou.
 "The purchase of these shares will represent both a financial and strategic investment for Hershey Foods. While we are confident that the purchase of this interest will in itself be a good investment, we are hopeful that we can build upon it over time," Zimmerman said.
 In addition to being the leading Scandinavian chocolate, confectionery and snack food company, Freia Marabou markets cookies and other food products. It had sales of $833 million in 1991.
 Hershey Foods Corporation is the leading North American producer of chocolate and confectionery products, is a major U.S. producer of dry pasta products and has international interests in Latin America, Europe and the Far East. It had sales of $2.9 billion in 1991.
 /delval/
 -0- 4/29/92
 /CONTACT: Natalie Bailey or Bonnie Glass, both of Hershey Foods, 717-534-7631/
 (HSY) CO: Hershey Foods Corporation ST: Pennsylvania IN: FOD SU: ERN


MP -- PH001 -- 4153 04/29/92 07:50 EDT
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Publication:PR Newswire
Date:Apr 29, 1992
Words:338
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