BORDEN SELLS SEVEN BRANDS TO AMERICAN ITALIAN PASTA CO.

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(July 17, 2001) -- American Italian Pasta Co. today completed its acquisition of seven pasta brands from Borden Foods for $67.5 million plus inventory.

AIPC, the largest manufacturer of private label pasta brands, adds the Borden brands, including Ronco and Luxury, to its existing portfolio, which in November grew to include Unilever BestFoods' Mueller's brand.

AIPC also announced it had named Ric Brockmeier, a former Philip Morris Cos.' Kraft Foods alum, as senior vice president of marketing and category development.

Borden on Monday completed the sale of its pasta sauce and dry bouillon and soup businesses, together worth $270 million annually, to H.J. Heinz Co. -- Stepahine Thompson

Copyright July 2001, Crain Communications Inc.

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