Grand Met backs U.S. brands

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Grand Metropolitan said it intends to sell off its national food brands in Europe and focus on its international brands Pillsbury, Green Giant, Haagen-Dazs and Old El Paso. Grand Met will sell its Erasco canned meals and soups line in Germany to Campbell Soup Co. for approximately $210 million. FCB Hamburg handles the Erasco account. The Erasco business was acquired by Pillsbury in 1962, which Grand Met in turn bought in 1989. Grand Met also said that it will consider offering for sale its remaining national food business in the U.K. and continental Europe. Starting Oct. 1, Grand Met Foods Europe will be renamed Pillsbury Europe and its headquarters will be relocated from Paris to Uxbridge in the U.K.

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