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JIMBO'S JUMBOS ACQUIRES WEST COAST OPERATION

 JIMBO'S JUMBOS ACQUIRES WEST COAST OPERATION
 EDENTON, N.C., May 11 /PRNewswire/ -- Jimbo's Jumbos, Incorporated


(NASDAQ: PNUT), today reported that it had acquired certain assets and the business of the Los Angeles Nut House and Fairhope Nut Processing subsidiaries of MEI Diversified, Inc. (NYSE: MEI), for a cash purchase price of approximately $8 million. LA Nut and Fairhope had sales of approximately $38 million in 1991 and are a major supplier of in-the- shell peanuts to West Coast markets. In addition, they supply such markets with walnuts, in-the-shell nut mixes, and other nuts and nut meats.
 Robert Thomas, president of Jimbo's Jumbos, stated that the acquisition will give Jimbo's Jumbos a strong presence in West Coast markets, will substantially broaden its product line and is a significant first step in the company's previously announced plans to expand its operations through strategic acquisitions. He also stated that Jimbo's Jumbos welcomes the strong management team and skilled work force of LA Nut House.
 Jimbo's Jumbos is a vertically integrated buyer, miller, sheller and processor of peanuts and is the number one supplier of consumer packaged processed and raw in-the-shell peanuts in the United States. The company completed its initial public offering in December 1991.
 -0- 5/11/92
 /CONTACT: Charles F. Schwartz, vice president and chief financial officer of Jimbo's Jumbos, 919-482-2193; or Edward Silverman of Silverman, Heller Associates, 212-682-9222, for Jimbo's Jumbos/
 (PNUT MEI) CO: Jimbo's Jumbos, Incorporated; MEI Diversified, Inc. ST: North Carolina, California IN: SU: TNM


GK-OS -- NY019 -- 8463 05/11/92 09:18 EDT
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Publication:PR Newswire
Date:May 11, 1992
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