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CATTLEMAN'S OF DETROIT SIGNS AGREEMENT TO ACQUIRE PRODUCE COMPANY

 DETROIT, July 20 /PRNewswire/ -- Cattleman's Meat Company of Detroit, one of Michigan's largest beef processors, today announced additional expansion in the retail fresh food market business with an agreement in principle to acquire the business of Oak Farms, Inc.
 Oak Farms are retail produce companies, operating two stores in Oak Park and in Farmington, Mich. The acquisition, when completed, will give Cattleman's five stores, with produce departments being added to Cattleman's existing three stores.
 In making the announcement, David S. Rohtbart, Cattleman president and chief executive officer, said with the acquisition and Oak Farms management, Cattleman will offer the "best value in retail fresh meat and produce within the metropolitan Detroit area."
 Rohtbart also said the acquisition is in keeping with Cattleman's long-term strategy.
 "Our vision for the company is to operate stores which specialize in distributing top-quality meat and produce," said Rohtbart. "This strategy, developed after considerable study, will give us a special identification and niche in these important markets."
 Rohtbart said he expects the acquisition to be completed by mid- August. The purchase price was not made public.
 Cattleman's had sales of $123.8 million in fiscal 1992 ended April 25. It has approximately 400,000 shares outstanding and is listed on the pink sheets.
 -0- 7/20/93
 /CONTACT: David S. Rohtbart, president/CEO, Cattleman's Meat Company, 313-833-2700 or 313-310-1640; or investors, Berl Falbaum of Falbaum & Associates, 313-262-9608, for Cattleman's Meat Company/


CO: Cattleman's Meat Company; Oak Farms, Inc. ST: Michigan IN: FOD REA SU: TNM

ML -- DE005 -- 6661 07/20/93 10:02 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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