Nabisco, Parsippany, N.J., said it agreed to sell its College Inn line of canned broths to H.J. Heinz Co., Pittsburgh. Nabisco said the sale is the result of an ongoing strategic review of its product lines. Nabisco, which said College Inn is a $50 million business with market strength in the East and Midwest, explained it "doesn't fit strategically with our focus." Terms of the sale, still subject to antitrust review, were not disclosed. H.J. Heinz President-CEO William R. Johnson said: "With the acquisition of College Inn, we continue to upgrade our portfolio with an emphasis on higher-margin, good fit, synergistic branded businesses." DDB
Needham Worldwide, Chicago, is the agency for Heinz USA.
Copyright June 1998, Crain Communications Inc.