Hershey, facing limp pasta sales, will sell brands

Article Abstract:

Hershey Foods Corp. is looking for a buyer for its pasta lines of business even though Hershey is the leader in pasta sales in the US. The company wants to concentrate on its confectionery and related businesses. Pasta sales, not including noodles, dropped 1.9% in the past year, although some competing brands dropped much further. Annual sales have been about $400 million. A price tag for the purchase has not been disclosed, though it is anticipated to be about $500 million. Hershey's pasta brands include Ronzoni, Skinner and San Giorgio.

United States, Asset sales & divestitures, Macaroni and spaghetti, Macaroni, Spaghetti & Noodles, Dry Pasta Manufacturing, Mergers, acquisitions and divestments, Abstract, Pasta products, Cereal products industry, Pasta industry, HSY, The Hershey Co.

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Seagram's profit surges in quarter; stake's sale is cited

Article Abstract:

Seagram Co. announced that its profits for the fiscal 1998 fourth-quarter more than doubled. The company's quarterly profits were helped by a $493 million windfall created by the sale of its shares in Time Warner Inc. Seagram posted quarterly net income of $324 million for the period ending June 30, 1998. During the same period in 1997, the company posted $148 million. Seagram's revenue saw a drop of 15% for the quarter to $2.2 billion.

Comment:

Announced that its profits for the fiscal 1998 fourth-quarter more than doubled

Canada, Sales, profits & dividends, Company Planning/Goals, Liquor, Distilleries, Seagram Company Ltd., Article

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