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NOEL GROUP AGREES TO ACQUIRE LINCOLN SNACK COMPANY FROM SANDOZ

 NOEL GROUP AGREES TO ACQUIRE LINCOLN SNACK COMPANY FROM SANDOZ
 NEW YORK, Aug. 11 /PRNewswire/ -- Noel Group, Inc. (NASDAQ: NOEL) and Sandoz Nutrition Corporation, a wholly owned subsidiary of Sandoz Corporation, announced today the signing of an agreement for the purchase by a Noel subsidiary of certain assets of the Lincoln Snack Consumer Company division of Sandoz.
 The transaction, scheduled to close on or about Aug. 31, has been approved by both corporations and is subject to the usual closing conditions.
 Lincoln Snacks is one of the leading manufacturers and marketers of candied pre-popped popcorn in the United States and Canada with a product line that includes Poppycock, Fiddle-Faddle, and Screaming Yellow Zonkers. Lincoln Snack revenues totaled approximately $30 million in 1991. The assets to be acquired include a 67,000-square-foot manufacturing facility located in Lincoln, Neb., as well as related inventories.
 Helmut Breuer, president, Sandoz Nutrition Corporation, said, "The divestiture of the Lincoln Snack Company is part of the overall plan of Sandoz Nutrition Corporation to disengage from the consumer market in order to focus strategically on its professional clinical nutrition, foodservice, and health risk management business."
 This acquisition is the second major transaction announced by Noel since its initial public offering in January in which it raised over $100 million for the acquisition of controlling positions in established businesses. On Aug. 4, Noel announced preliminary agreement on its purchase of newly issued equity securities of Curtis Industries, Inc., for $15 million. Curtis is a national distributor of industrial hardware, including fasteners, chemicals, security products, tools, and fittings and connectors, and also manufactures keys and key cutting machines.
 Noel conducts its operations through small and medium-sized operating companies. It announced its intention last month to distribute to its shareholders substantially all of its interest in three public companies: Global Natural Resources Inc. (NYSE: GNR), Garnet Resources Corp. (NASDAQ: GARN) and VISX, Inc. (AMEX: VSX). In addition to these three companies Noel's principle holdings are Sylvan Foods Holdings, Inc. (NASDAQ: SYLN), Health Management International, Inc. (NASDAQ: HMII) and a private company, Simmons Outdoor Corporation.
 Sandoz Nutrition Corporation researches, develops, manufactures and markets high-value nutritional products and services for professional use in improving health and quality of life.
 -0- 8/11/92
 /CONTACT: Donald R. Dwight of Noel Group, 203-661-8480, or John Fontana of Sandoz Nutrition, 612-593-2147/
 (NOEL) CO: Noel Group, Inc.; Sandoz Nutrition Corporation ST: New York IN: FOD SU: TNM


CK-KW -- NY033 -- 8907 08/11/92 11:05 EDT
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Publication:PR Newswire
Date:Aug 11, 1992
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