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MULTIFOODS' CANADIAN SUBSIDIARY BUYS LEADING FROZEN BAKERY PRODUCTS BUSINESS

 MULTIFOODS' CANADIAN SUBSIDIARY BUYS LEADING
 FROZEN BAKERY PRODUCTS BUSINESS
 MINNEAPOLIS, April 27 /PRNewswire/ -- International Multifoods' (NYSE: IMC) Canadian subsidiary, Robin Hood Multifoods, has purchased Gourmet Baker, a leading frozen bakery products business in Canada.
 The business was purchased from Ogilvie Mills Ltd., a subsidiary of John Labatt Ltd., London, Ontario. Terms were not disclosed.
 Gourmet Baker is a leading supplier of frozen pies, cakes, muffins, croissants and puff pastries to Canadian bakeries and foodservice operations. Based in Vancouver, B.C., it operates six processing facilities located in Winnipeg, Manitoba; Vancouver and near Toronto. It employs 380 people and has annual sales of about $40 million (U.S. dollars).
 "We're enthused about this acquisition," said Tony Luiso, Multifoods' chairman, president and chief executive officer. "Gourmet Baker is a market leader complementing our bakery products business, which is a leading supplier of flour and bakery mixes to Canadian retail bakers. It expands our product offerings and service to our bakery customers and gives us a strong position in Canada's frozen bakery products market, which is a major growth area."
 Frozen bakery products is about a $250 million market in Canada with an annual real growth rate of about 6 percent. With the acquisition of Gourmet Baker, the company will be the only national supplier of flour, mixes and frozen bakery products in Canada. Multifoods is also a leading supplier of bakery mixes and frozen specialty desserts in the United States, which are marketed under the Multifoods and Fantasia brands.
 Minneapolis-based International Multifoods, with fiscal 1992 net sales of $2.3 billion, is a diversified food company with major operations in the United States, Canada and Venezuela.
 -0- 4/27/92
 /CONTACT: Linda K. Berg (media), 612-340-3755 or Yolanda M. Scharton (investors),612-340-3621, both of Multifoods/
 (IMC) CO: International Multifoods ST: Minnesota IN: FOD SU: TNM


AL -- MN024 -- 3383 04/27/92 16:52 EDT
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Publication:PR Newswire
Date:Apr 27, 1992
Words:312
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