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QUAKER DECIDES NOT TO SELL ITS ITALIAN EDIBLE OILS BUSINESS

 QUAKER DECIDES NOT TO SELL ITS ITALIAN EDIBLE OILS BUSINESS
 CHICAGO, June 11 /PRNewswire/ -- The Quaker Oats Company (NYSE: OAT)


announced today that it has decided not to pursue the sale of its Italian edible oils business. Garma S.r.L., a newly formed enterprise of Raul Gardini and Giulio Malgara, the former president of Quaker's European grocery products business, has publicly expressed interest in acquiring the Italian oils business and in serving as distributor of Quaker's pet foods, cereals and Gatorade thirst quencher products in Italy.
 William D. Smithburg, chairman, president and chief executive officer, said, "The Italian oils business is a profitable contributor to Quaker's results in Italy and in Europe. Cuore corn oil is a market leader in Italy and has a very strong brand franchise. After carefully evaluating Garma's proposal and the prospects for the oils business, we have decided that it is in the current best interest of our shareholders to keep the business."
 -0- 6/11/92
 /CONTACT: Ronald G. Bottrell of Quaker Oats, 312-222-7388/
 (OAT) CO: Quaker Oats Company ST: Illinois IN: FOD SU: TNM


PS -- NY037 -- 9167 06/11/92 10:26 EDT
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Publication:PR Newswire
Date:Jun 11, 1992
Words:191
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