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ALTERNATIVE DISTRIBUTORS CORPORATION ENTERS INTO AGREEMENT TO ACQUIRE NEW ENGLAND SNACKS

 ALTERNATIVE DISTRIBUTORS CORPORATION ENTERS INTO AGREEMENT
 TO ACQUIRE NEW ENGLAND SNACKS
 MEDFORD, Mass., April 15 /PRNewswire/ -- Alternative Distributors Corporation, the largest distributor of high quality bakery products and snack foods in the New England states, announced today that it has entered into an agreement to purchase the assets of New England Snacks, Inc., a corporation engaged in the same business as the company, in exchange for the assumption of certain liabilities and the issuance of approximately 111,000 shares of its common stock, subject to downward adjustment in certain circumstances. The acquisition will increase the number of delivery routes serviced by the company from 41 to 52 and is expected to increase the volume of the company's business by more than 25 percent. The acquisition, which is subject to typical closing conditions, is expected to be completed in about two weeks. After consummation of the acquisition, the company will have approximately 3 million shares of common stock outstanding.
 -0- 4/15/92
 /CONTACT: Sandra van Essche of Shepard & Tolley, 212-557-9525, for Alternative Distributors Corporation/ CO: Alternative Distributors Corporation; New England Snacks, Inc. ST: Massachusetts IN: FOD SU: TNM


JB-AW -- FL013 -- 8862 04/15/92 15:51 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
Words:197
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