USA: International Multifoods announces actions to focus on its grain-based food manufacturing businesses
International Multifoods Corp. (NYSE: IMC) today announced that it is taking the following actions to focus the company on its North American grain-based food manufacturing businesses and enhance shareholder value: Acquire Pillsbury's desserts and specialty products portfolio, Pillsbury's non-custom foodservice baking mix business and General Mills' U.S. Robin Hood brand, which have combined net sales of about $450 million, for approximately $305 million in cash.
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