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MAIN ST. & MAIN INC. ANNOUNCES NEGOTIATIONS TO ACQUIRE CARNATION DAIRIES PHOENIX

 MAIN ST. & MAIN INC. ANNOUNCES NEGOTIATIONS
 TO ACQUIRE CARNATION DAIRIES PHOENIX
 SCOTTSDALE, Ariz., Dec. 23 /PRNewswire/ -- Main St. & Main Inc. (NASDAQ: MAIN, MAIN-U) (the "company") announced that it has joined with two senior managers of Carnation Dairies Phoenix ("Carnation") to negotiate the acquisition of Carnation from Nestle Food Co. Carnation produces a broad line of fluid milk products, packaged and bulk ice cream and cottage cheese and distributes these and other dairy products, including ice cream novelties and yogurt products, to many of the major food distributors in Arizona. The parties are still discussing various terms of the possible acquisition, and there can be no assurance that an agreement will be reached or that the acquisition will be consummated.
 Steven Sherman, chairman and chief executive officer of Main St., said, "The company is very excited about the possibility of the acquisition of Carnation and its association with the senior management of Carnation which will have an equity interest in the business and long-term employment contracts. The proposed acquisition would represent a new milestone for our business and would compliment and facilitate the expansion of our existing businesses of the ownership and operation of T.G.I. Friday's restaurants and family entertainment centers."
 -0- 12/23/91 R
 /CONTACT: Joe W. Panter of Main St. & Main, 602-951-3200/
 (MAIN) CO: Main St. & Main; Carnation Dairies Phoenix ST: Arizona IN: FOD SU: TNM


AL -- SD001 -- 4821 12/23/91 12:04 EST
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Publication:PR Newswire
Date:Dec 23, 1991
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