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NABISCO INTERNATIONAL IN JOINT VENTURE WITH TABACALERA FOR SPAIN'S ROYAL BRANDS

 NEW YORK, July 22 /PRNewswire/ -- Nabisco International, Inc. today announced that it has established a joint venture agreement with Spain's Tabacalera SA through which the two companies will own and manage Royal Brands, a large food manufacturer in Spain and Portugal.
 Nabisco International said it also has the option to acquire the remaining 50 percent interest in the venture from Tabacalera after one year.
 Royal Brands has leading positions in cookies and crackers, dry dessert mixes, canned vegetables and fruit juices in Spain and Portugal. The company currently is 100 percent owned by Tabacalera. Royal Brands had annual sales of 29 billion pesetas (approximately $227 million) in 1992.
 According to G. Richard Thoman, president of Nabisco International, the joint venture marks the company's re-entry into the European food markets. RJR Nabisco, Inc., the parent company of Nabisco International, had sold its European food businesses, including Royal Brands, after a leveraged buy-out in 1989.
 "Spain and Portugal are among the most attractive consumer markets in Europe," said Thoman. "They are among the fastest growing the European Community and, combined, they are comparable in size to France, the United Kingdom or Italy.
 "Royal Brands' position as one of the leading manufacturers of biscuits and other packaged goods will enable us to immediately gain access to a market that should continue to lead the EEC in economic growth," Thoman continued. "It also will provide us a base from which to become active in several other European markets."
 Thoman said Nabisco International's business-building plans focus on high-growth Latin American markets and targeted markets in Southern Europe, Eastern Europe and Asia, where the biscuit market has strong growth potential.
 Based in New York, Nabisco International is an operating unit of RJR Nabisco, with major food businesses in Brazil, Mexico, Venezuela, Puerto Rico, Argentina, Uruguay, Ecuador, Chile and Peru.
 -0- 7/22/93
 /CONTACT: Jason Wright of RJR Nabisco, 212-258-5770/


CO: Nabisco International, Inc.; Tabacalera SA; Royal Brands ST: New York IN: TOB FOD SU: JVN

BR-** -- AT015 -- 4653 07/22/93 14:25 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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