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PITTSBURGH FOOD & BEVERAGE, INC., ANNOUNCES ACQUISITION OF WAYNE CANDY COMPANY

 PITTSBURGH FOOD & BEVERAGE, INC.,
 ANNOUNCES ACQUISITION OF WAYNE CANDY COMPANY
 PITTSBURGH, April 6 /PRNewswire/ -- Pittsburgh Food & Beverage, Inc., announced today the acquisition of the Wayne Candy Company of Fort Wayne, Ind., makers of the Bun(R) candy bar brand. Pittsburgh Food & Beverage, Inc., is a privately owned company engaged in the manufacture and distribution of food and beverage products. The company's principal subsidiaries are the D.L. Clark Company and Pittsburgh Brewing Company. Financial terms of the agreement were not disclosed.
 Wayne Candy Company, founded in 1902 as a small manufacturer of bulk chocolate candies, has been owned since 1981 by Storck, L.P., a unit of the German confectioner Storck KG.
 Richard R. Harshman, president/CEO of Storck's North American operations, stated that the sale of Wayne Candy Co. to Pittsburgh Food & Beverage, Inc., fulfills his company's commitment of assuring that the Bun bar remains in production in the United States.
 Pittsburgh financier Michael Carlow, president and chief executive officer of Pittsburgh Food & Beverage, Inc., described the acquisition as part of the company's long-range strategy to enhance its position as a quality confectionery manufacturer with a strong distribution base.
 According to Carlow, "The Bun brand is an extremely compatible and viable addition to our 'family' of candies, which now includes the Clark(R) Bar, Black Cow(R), and Slo Poke(R) brands. All are well-established, high quality products with loyal customer bases. We are looking forward to combining the strength of all of these popular brands to reinforce our presence in the U.S. confectionery market."
 Marketing, finance and administrative functions for Wayne Candy Company will be transferred to Pittsburgh.
 Bun brand candy bars, sold in supermarkets, drug and convenience stores throughout the United States, come in three popular varieties -- caramel, maple and vanilla.
 -0- 4/6/92
 /CONTACT: Bob Butter or Mary Stackpole of Ketchum Public Relations, 412-456-3851, or 412-456-3856, for Pittsburgh Food & Beverage, Inc./ CO: Pittsburgh Food & Beverage, Inc.; Wayne Candy Company ST: Pennsylvania IN: FOD SU: TNM


CD-SB -- PG003 -- 5504 04/06/92 16:00 EDT
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Publication:PR Newswire
Date:Apr 6, 1992
Words:340
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