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Archive for Wednesday, June 6, 2001

American Italian

June 6, 2001

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— Borden Foods will sell some of its pasta brands to American Italian Pasta Co. for $67.5 million.

The sale does not include many of Borden's best-known products.

The brands being bought by Kansas City, Mo.-based American Italian, the nation's largest pasta maker, amount to 35 percent of Borden Foods' pasta volume and have $63 million in annual sales.

American Italian will buy the Pennsylvania Dutch, Anthony's, Ronco, Globe A-1, Luxury, Mrs. Grass and R&F brands.

Borden expects the sale to be completed within the next three months.

Up to 12 Borden Foods employees who work with the brands are expected to be offered jobs with AIPC. Production of the products will shift to American Italian plants in Excelsior Springs, Mo., and South Carolina.

The sale does not include Cremettes pasta, Classico pasta sauces, Wyler's soups and bouillon, and It's Pasta Anytime convenience meals. No pasta-making plants are part of the deal.

Borden announced in February that it was exploring the sale of its Foods Division.

"We've been actively pursuing transactions, and there may be more in the near future," said Lynn Anderson, a Borden Foods spokeswoman.

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