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Industry mergers/acquisitions rise in '92.

Some 468 food business-related mergers and acquisitions took place in 1992, a 28% increase from 1991, according to The Food Institute. The Fair Lawn, NJ-based information and reporting association says this was the highest number of transactions since 1989. Merger and acquisition activity in a number of industry categories was well above the year before. These include mergers and acquisitions by agricultural cooperatives, bakers, diversified food processors, meat packers, packaging suppliers, poultry processors, restaurant and foodservice firms, snack food companies, soft drink bottlers, wholesalers, and food brokers. Activity fell from 1991 among confectioners, foodservice vendors, "primary products companies" (raw products suppliers), convenience stores, and supermarket firms.

On the international front, The Food Institute found that the number of food industry-related acquisitions of U.S. assets by foreign firms dropped slightly in 1992 to 28, compared to 29 in 1991. At the same time, acquisitions of overseas assets by U.S.-based firms totaled 50, compared to 57 in 1991. U.S.-based firms made more acquisitions in Canada (14 transactions), than in any other nation, but there were three transactions each in Chile, Hungary, Mexico, and Spain, with the rest of the activity spread among 13 other countries.

The year's activity is summarized in The Food Institute's new report, "Food Business Mergers and Acquisitions, 1992." The 112-page report lists the year's 468 industry-related transactions, categorized by type of firm. Additionally, the report reviews significant acquisition/divestiture activity by a number of major companies, including Albertson's Inc., American Stores Co., Campbell Soup Co., ConAgra Inc., CPC International Inc., Fleming Cos., H.J. Heinz Company, Marriott Corp., RJR Nabisco, Inc., Nash Finch Company, PepsiCo Inc., Philip Morris Companies Inc., Southland Corp., Super Valu Inc. and others.

TABULAR DATA OMITTED
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Publication:Frozen Food Digest
Article Type:Industry Overview
Date:Jul 1, 1993
Words:287
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