Norwegian Orkla buys Volvo food division

Article Abstract:

Orkla of Norway, a consumer products and chemicals group, is to purchase Procordia Food, a subsidiary of Volvo of Sweden for 4.25 billion Swedish Krona, making Orkla the largest Nordic food group. Chief executive of Procordia Kurth Auguston wanted the company to be floated on the stock exchange with Swedish institutions being the main investors. Orkla and Volvo's Ringnes and Pripps drinks operations will also be merged.

Food & Kindred Products, Food Manufacturing, Procordia Food AB, Orkla Borregaard A/S

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Grand Met to buy Pet for US$2.6bn

Article Abstract:

US food manufacturer Pet will have all its outstanding shares purchased by Pillsbury, the US subsidiary of UK food and drinks concern Grand Met. Pet is particularly strong in the Mexican food sector, and in 1994 saw sales of $1.6 billion. Grand Met has announced details of a second large restructuring in two years, which will lead to the loss of 2,600 jobs.

Frozen specialties, not elsewhere classified, Frozen Specialty Food Manufacturing, Frozen Mexican Foods, Frozen ethnic foods, Grand Metropolitan PLC, Pet Inc.

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Abco sold to McLane

Article Abstract:

United States food distributor McLane will take over Polish Abco.

Asset sales & divestitures, Acquisitions & mergers, Poland, Professional & Commercial Equipment, Professional and Commercial Equipment and Supplies Wholesalers, Business & Commercial Eqp Whsle, McLane Company Inc. McLane America Div., ABCO Engineering Corp.

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