Printer Friendly

BURNS PHILP RECEIVES OK ON DURKEE PURCHASE

 BURNS PHILP RECEIVES OK ON DURKEE PURCHASE
 SYDNEY, Australia, June 30 /PRNewswire/ -- Burns, Philp & Company


Limited of Australia announced today that the requirements under the U.S. Hart-Scott-Rodino Anti-Trust Improvements Act have been met for the purchase of the Durkee-French spice and seasoning businesses from Reckitt & Colman, and the transaction can now proceed to closing, which is expected to be not later than the end of July.
 Burns Philp signed a letter of intent to purchase the businesses from Reckitt & Colman in January. Since that time, the transaction has been undergoing examination under the stringent U.S. anti-trust laws.
 Burns Philp and Reckitt & Colman restructured the contemplated transaction by excluding Reckitt & Colman's gourmet spices but including other businesses.
 The businesses included in the transaction are Durkee and French's spices and seasonings, sauces and gravies, Dec-A-Cake decorations, Durkee Famous Sauce and French's Lemon Pie Filling.
 The acquisitions will become part of the Burns Philp Food & Fermentation Division headquartered in San Francisco, taking advantage of existing distribution and sourcing structures in the Division's Specialty Brands and Integrated Ingredients businesses.
 Burns Philp will release its results for the twelve months to June 30, 1992 on September 9, 1992.
 Burns Philp shares, listed on the Australian Stock Exchange, are traded in the U.S. in the form of American Depositary Receipts (ADRs). The ADRs are quoted on the National Association of Securities Dealers' Electronic Bulletin Board (Symbol: 3BPHCY), and are traded in the Pink Sheets. One ADR equals six Burns Philp shares.
 -0- 6/30/92
 /CONTACT: Andrew Turnbull in Sydney, 61-2-259-1111, or Susanne Larson in Sydney, 61-2-259-1296, both ofof Burns, Philp & Company Limited; or Paul Whitelaw of Hill and Knowlton, Inc., 212-697-5600, for Burns Philp & Company/ CO: Burns, Philp & Company Limited; Reckitt & Colman ST: IN: FOD SU: TNM


TQ -- NY024 -- 5050 06/30/92 09:52 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:Jun 30, 1992
Words:304
Previous Article:TULTEX COMPLETES ACQUISITION OF LICENSED SPORTS CAP PRODUCER
Next Article:NEORX RECEIVES FDA CLEARANCE TO BEGIN CLINICAL TESTING OF BONE MARROW PURGING PRODUCT
Topics:


Related Articles
BURNS PHILP AGREES TO ACQUIRE DURKEE BRAND
BURNS PHILP FINALIZES U.S. DURKEE PURCHASE
BURNS PHILP OF AUSTRALIA REPORTS STEADY SALES, PROFITS AND DIVIDENDS
BURNS PHILP OF AUSTRALIA APPOINTS NEW CHAIRMAN AND TWO DIRECTORS
RYKOFF-SEXTON SIGNS LETTER OF INTENT TO SELL TONE BROTHERS SUBSIDIARY
RYKOFF-SEXTON SIGNS DEFINITIVE AGREEMENT TO SELL TONE BROTHERS SUBSIDIARY
RYKOFF-SEXTON SIGNS DEFINITIVE AGREEMENT TO SELL TONE BROTHERS SUBSIDIARY
Burns Philp Lowered to BB+/B; Still on S&P Watch Negative
Burns Philp to BB- From BB+, On S&P Watch Neg
Australia's largest food group Burns, Philp & Co Ltd, has put its Tone Brothers North American herbs and spices division up for sale, on hopes it...

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters