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WARNER-LAMBERT AGREES TO SELL ITS CHOCOLATE/CARAMEL BUSINESS

 MORRIS PLAINS, N.J., Sept. 29 /PRNewswire/ -- Warner-Lambert Company (NYSE: WLA) said today it has entered into a definitive agreement for the sale of its chocolate/caramel business to Chicago-based Tootsie Roll Industries Inc. (NYSE: TR). The sale includes the Junior Mints, Sugar Daddy, Sugar Babies, Charleston Chew and Pom Poms product lines.
 John F. Walsh, president of Warner-Lambert's consumer products sector, said the divestiture reflects a re-focusing of company resources to capitalize on strategic global opportunities for its flagship confectionery and consumer health product brands. As an example of the strategy to make brands available to customers in new geographic markets, Walsh cited recent initiatives: last week, the company announced it has begun to sell its Halls cough tablets and Trident sugarless gum in Eastern Europe. He said the company hopes to create a new product category there with Halls, the largest selling cough drop in the world with 1993 global sales expected to exceed $400 million.
 Warner-Lambert purchased the chocolate/caramel business of Nabisco Brands in February 1988. Terms were not disclosed.
 "We know there are significant opportunities in new global markets and we're confident that many of our consumer brands have universal appeal," Walsh said. As an example, he pointed to Clorets. The product had worldwide sales of approximately $75 million in 1988, but following its introduction in key new markets such as Japan and France, worldwide sales this year are expected to exceed $190 million.
 Other key Warner-Lambert confectionery brands include Chiclets candy-covered gum, Dentyne gum, Bubblicious bubble gum and Certs mints.
 Warner-Lambert is a worldwide company devoted to discovering, developing, manufacturing and marketing quality health care and consumer products. It employs approximately 35,000 people.
 -0- 9/29/93
 /CONTACT: Media: Lisa Wilder, 201-540-2145, or Sandy Horner, 201-540-4268; or Investors: Stephen Mock, 201-540-6916, or Cary Rosansky, 201-540-4874, all of Warner-Lambert/
 (WLA TR)


CO: Warner-Lambert Company; Tootsie Roll Industries Inc. ST: New Jersey IN: FOD SU:

TW -- NY065 -- 6946 09/29/93 16:03 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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