VSA EXPANDS OPERATIONS IN CALIFORNIA, SOUTHEAST
VSA EXPANDS OPERATIONS IN CALIFORNIA, SOUTHEAST MINNEAPOLIS, Feb. 28 /PRNewswire/ -- International Multifoods Corp.
(NYSE: IMC) announced today that its subsidiary, VSA, Inc., has purchased certain assets of Servatron, Inc., a distribution company based in Long Beach, Calif. Terms were not disclosed.
The acquisition enhances VSA's service to office coffee service and vending customers in California and the southeastern United States. It complements other acquisitions VSA has made the past year to expand its distribution operations in the Pacific Northwest, Texas, Florida and New Jersey. The recent purchase includes selected assets, including inventories and customer lists, at four distribution centers in Los Angeles, San Francisco, Memphis and Atlanta. It does not involve any distribution facilities. The four locations currently have annual sales of approximately $10 million. "This acquisition will strengthen our market penetration and service to customers in these four key metropolitan markets," says John Gregory, president of Denver-based VSA. "In addition, it increases our office coffee service business, an important market which we are committed to serving." VSA operates 19 distribution centers in the United States, serving more than 22,000 vending and office coffee service operators. It offers a line of more than 3,000 products -- including snacks, fruit juices, canned and refrigerated foods. Minneapolis-based International Multifoods, with fiscal 1991 net sales of $2.1 billion, is a diversified food company with major operations in the United States, Canada and Venezuela. -0- 2/28/92 /CONTACT: Linda K. Berg (media), 612-340-3755, or Yolanda Scharton (investors) 612-340-3621, both of International Multifoods/ (IMC) CO: International Multifoods Corporation ST: Minnesota IN: FOD SU:
AL -- MN006 -- 3648 02/28/92 10:25 EST
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|Date:||Feb 28, 1992|
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