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QUAKER OATS ACQUIRES NEAR EAST FLAVORED RICE BUSINESS FROM H.J. HEINZ

 CHICAGO, Aug. 20 /PRNewswire/ -- The Quaker Oats Company (NYSE: OAT), through its wholly owned subsidiary, Golden Grain Company, has acquired the Near East specialty rice business of H.J. Heinz Company (NYSE: HNZ), the companies jointly announced today. The price was not disclosed.
 The companies said the acquisition includes trademarks, inventory and fixed assets, including the Leominster, Mass. plant, where Near East products are produced.
 Near East, founded in 1962 and acquired by H.J. Heinz Company in 1986, produces a line of rice and other grain mixes which are available nationally.
 Golden Grain, headquartered in Pleasanton, Calif., is best known for its two principal brands in the main-meal, side-dish category, Rice-A- Roni and Noodle Roni.
 Charles F. Marcy, president of Golden Grain, said, "Near East is an excellent addition to our line of grain-based products, which are on- trend with consumers' desires for foods that are healthful, convenient and offer value. The Leominster, Mass., plant also will provide us a strategically important manufacturing facility in the Northeast." Current Golden Grain plants are located in Seattle, Washington and Bridgeview, Ill.
 Heinz USA President and CEO William C. Springer said, "The decision to sell the business was based on the assessment that Near East products do not fit into our overall strategic plan. The sale of Near East provides us with additional financial resources to invest in growing our core businesses."
 -0- 8/20/93
 /CONTACT: Ronald G. Bottrell of Quaker Oats, 312-222-7388, or Deb Magness of H.J. Heinz, 412-237-5806/
 (OAT HNZ)


CO: Quaker Oats Company; Golden Grain Company; H.J. Heinz Co. ST: Illinois, California, Pennsylvania IN: FOD SU: TNM

MP -- NY025 -- 8674 08/20/93 11:48 EDT
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Publication:PR Newswire
Date:Aug 20, 1993
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