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CURTICE BURNS FOODS ANNOUNCES DEFINITIVE AGREEMENT TO SELL HILAND POTATO CHIP COMPANY

 ROCHESTER, N.Y., Nov. 15 /PRNewswire/ -- Curtice Burns Foods (AMEX: CBI), a food processor, which announced earlier that it had signed a letter of intent to sell certain assets of its Des Moines, Iowa- based Hiland Potato Chip Company to Weaver Potato Chip of Lincoln, Neb., today announced that it has signed a definitive letter of agreement with Weaver. This transaction has been approved by the board of directors of Curtice Burns and the board of directors of Pro-Fac Cooperative (which holds title to certain of the fixed assets used in this business). The sale is expected to close within the next two weeks. Terms were not disclosed.
 As announced on October 19, Weaver plans to consolidate production, management and administration of the Hiland and Old Vienna snack lines into its Lincoln facility. Curtice Burns will close the Des Moines plant after the sale is finalized. Weaver has said it will continue to distribute the Hiland brand snacks in the Iowa, South Dakota, and Nebraska areas and the Old Vienna brand snacks in the St. Louis area, using existing direct store-door delivery system.
 Curtice Burns processes and markets 24 product lines of regional branded, private label and food service products through nine autonomously managed divisions and 44 plants and warehouses located throughout the United States and Canada.
 -0- 11/15/93
 /CONTACT: Bea Slizewski of Curtice Burns Foods, 716-264-3133/
 (CBI)


CO: Curtice Burns Foods; Hiland Potato Chip Co.; Weaver Potato Chip ST: New York; Nebraska; Iowa IN: FOD SU:

LC-KL -- CL014 -- 4571 11/15/93 15:03 EST
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Publication:PR Newswire
Date:Nov 15, 1993
Words:258
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