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Yogen Fruz Amends S.E.C. Filing With Respect to Its Investment in Eskimo Pie Corp.

TORONTO--(BUSINESS WIRE)--

Michael Serruya, Co-President and Co-Chief Executive Officer of Yogen Fruz World-Wide Incorporated (TSE:YF.A) announced today that Yogen Fruz had amended its public filing with the U.S. Securities and Exchange Commission with respect to its investment in Eskimo Pie Corp. as follows:

Yogen Fruz World-Wide Incorporated acquired the Eskimo Pie Corp. common stock in the open market and in a private transaction with a view towards acquiring control of Eskimo Pie Corp. for the purpose of thereafter causing it to take such actions as Yogen Fruz deems to be advisable in order to maximize shareholder value. Such actions may include, among other things, a sale of all or a part of Eskimo Pie Corp. to a third party, a change in management of Eskimo Pie Corp. and/or a restructuring of Eskimo Pie Corp. Depending upon market conditions and other factors that Yogen Fruz may deem material to its strategy, Yogen Fruz may purchase additional securities of Eskimo Pie Corp. in the open market or in private transactions, may seek to obtain control of the Board of Directors of Eskimo Pie Corp. through a proxy contest or otherwise, or may dispose of all or a portion of the securities of Eskimo Pie Corp. that it now owns or hereafter may acquire.

As of August 31, 1998, Yogen Fruz had approximately 4,900 locations, through company owned, franchised and non-traditional partnership locations in 80 countries. The Company operates a Family of Brands including Yogen Fruz, I Can't Believe It's Yogurt, Bresler's Ice Cream and Premium Frozen Yogurt, Swensen's Ice Cream, Steve's Ice Cream, Golden Swirl, Paradise, Ice Cream Churn and Java Coast Fine Coffees. The Company also directly, and through its subsidiary Integrated Brands, markets, sells and distributes Tropicana frozen fruit juice bars and frozen dessert products, as well as a variety of frozen novelties and frozen dessert products under the Betty Crocker, Trix, Yoplait, Colombo, Lucky Charms and Yoo Hoo brand names, pursuant to long-term license agreements.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 5, 1999
Words:332
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