Nestle to buy Chef America for $2.6B
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Manufacturing News, Source : TheManufacturer.com
Published : 08 Aug 2002 21:10
Nestle, an international leader in food and beverage manufacture, announced that it will buy Colorado-based Chef America, the manufacturer of Hot Pockets, Lean Pockets, and Pizza Minis, for $2.6 billion.
The acquisition will give Nestle a competitive edge in the US frozen food market.
Nestle also stands to be a contender in the purchase of Hershey Foods, the largest US candy manufacturer, in a $10 billion deal. Nestle has completed four large takeovers this year, with an accumulated overall debt of $13.6 billion.
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