Printer Friendly

QUAKER AGREES TO SELL TWO ITALIAN BUSINESSES

 QUAKER AGREES TO SELL TWO ITALIAN BUSINESSES
 CHICAGO, Sept. 25 /PRNewswire/ -- The Quaker Oats Company


(NYSE: OAT) announced today that it has reached a definitive agreement to sell two Italian businesses -- Sorba and Pandea -- to Garma, an Italian investment group headed by Raul Gardini and Giulio Malgara. The price was not disclosed.
 Sorba, acquired by Quaker in 1983, is a leading distributor of gourmet products in Italy. It distributes approximately 400 items imported from around the world which are sold under various brand names. Its office and distribution center is in Milan.
 Pandea, a producer of breadsticks and crackers under the Pandea brand and co-packer of such products for other companies, was acquired by Quaker in 1981 as part of its acquisition of Chiari & Forti. Pandea products are manufactured at a plant in Parma.
 Combined revenues of Sorba and Pandea represent $45 million of Quaker's approximately $400 million in Italian sales.
 Robert S. Thomason, president--Quaker Europe, said, "Sorba and Pandea, although profitable businesses, strategically do not fit with Quaker's European focus on core products such as pet foods, cereals, and Gatorade."
 Quaker, headquartered in Chicago, is an international marketer of foods, pet foods and beverages. Fiscal 1992 sales totalled $5.6 billion.
 -0- 9/25/92
 /CONTACT: Ronald Bottrell, director-media relations of Quaker, 312-222-7388/
 (OAT) CO: Quaker Oats Company ST: Illinois IN: FOD SU: TNM


SH -- NY027 -- 3485 09/25/92 11:34 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 25, 1992
Words:234
Previous Article:CENTEL, SPRINT FILE IN VIRGINIA FOR STATE REGULATORY APPROVAL OF MERGER
Next Article:DETROIT EDISON HELPS CITY OF DETROIT RECYCLE USED BATTERIES
Topics:


Related Articles
MALGARA RESIGNS AS HEAD OF QUAKER EUROPE; PURSUES PURCHASE OF QUAKER'S ITALIAN EDIBLE OILS BUSINESS
QUAKER DECIDES NOT TO SELL ITS ITALIAN EDIBLE OILS BUSINESS
QUAKER ANNOUNCES AGREEMENT TO SELL SUTHERLANDS FOODS
THE QUAKER OATS COMPANY AND SNAPPLE BEVERAGE CORP. ANNOUNCE DEFINITIVE AGREEMENT FOR QUAKER TO BUY SNAPPLE
QUAKER OATS ANNOUNCES AGREEMENT TO SELL ITALIAN FOOD PRODUCTS DIVISION
QUAKER OATS CONSIDERS SALE OF FROZEN FOODS BUSINESS
Quaker Anticipates Higher-Than-Expected Earnings for First Fiscal Quarter
Quaker Oats Reports First-Quarter Up 9 Percent, Excluding Snapple Loss; Cereals and Gatorade Volumes Strong
Quaker Oats Announces Agreement to Sell Liqui-Dri Foods Business.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters