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MULTIFOODS, JAMCO SIGN AGREEMENT; MULTIFOODS ACQUIRES ASSETS OF BAKERY MIX, FROZEN-BATTER MANUFACTURER

 MINNEAPOLIS, June 30 /PRNewswire/ -- International Multifoods Corp. (NYSE: IMC) today said it has purchased the assets and business of J. Amicone Company, Inc. (JAMCO), a leading suburban Boston-based supplier of bakery mixes and frozen batters to in-store bakeries with annual sales of approximately $17 million. Terms of the agreement were not disclosed.
 "JAMCO's product line, distribution channels and customers complement Multifoods' North American Bakery business and provide an appropriate fit with our strategic direction," said Tony Luiso, Multifoods chairman, president and chief executive officer. "The acquisition offers us excellent growth opportunities and positions us as a leader in a key market - in-store bakeries in the Northeast."
 Joseph M. Amicone, JAMCO president, will become a broker for Multifoods, continuing to serve existing customers and helping to grow the business. In addition, Joseph A. Amicone, founder of JAMCO, has entered into a consulting arrangement with Multifoods.
 "The Amicones are well regarded for their excellent sales and service efforts and for building a superior customer base," said Luiso. "We look forward to their ongoing insight and counsel and to their help in continuing to serve our combined customer base."
 Minneapolis-based Multifoods, with fiscal 1993 sales of more than $2.2 billion, is a diversified food company with major operations in the United States, Canada and Venezuela.
 -0- 6/30/93
 /CONTACT: Jill W. Schmidt (media) of Tunheim Santrizos, 612-340-3755 or 612-851-1625, for Multifoods; or Yolanda M. Scharton (investors) of Multifoods, 612-340-3621/
 (IMC)


CO: International Multifoods Corp.; J. Amicone Company, Inc. ST: Minnesota, Massachusetts IN: FOD SU: TNM

AL -- MN006 -- 7162 06/30/93 12:25 EDT
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Publication:PR Newswire
Date:Jun 30, 1993
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