Milling & Baking News - December 9, 2003 - (Page 1)

Theinewsweeklyiofigrain-basedifoods / DECEMBER 9, 2003 Dawn Foods to acquire Bunge bakery business for $76 million JACKSON, MICH. - Dawn Food Products, Inc. has reached a definitive agreement to acquire the bakery business of Bunge North America for $76 million. The transaction includes assets that produce mixes, frozen dough, syrups and toppings. The transaction is subject to regulatory approval and other closing conditions but is expected to be completed by year end. "Dawn Foods is very excited about this acquisition," said Ron Jones, chief executive officer of Dawn Food. "We have a great deal of respect for the way Bunge Story on Page 23 Willett, Gaesser to square off in debate at A.S.B. conference WASHINGTON - Two prominent scientists specializing in health and fitness will go head to head in a debate at the 80th anniversary conference of the American Society of Baking. In what the A.S.B. is dubbing "The Great Carbohydrate Debate," Walter C. Willett, professor of epidemiology and nutrition and chairman of the Department of Nutrition at Harvard School of Public Health, and Glenn Gaesser, professor of exercise physiology and director of the kinesiology program at the University of Virginia, will discuss the benefits and detriments of carbohydrate consumption. Dr. Willett and Dr. Gaesser will present their research and discuss the science and Continued on Page 18 has grown its business, and this acquisition will help Dawn grow in our service to the baking industry." Bunge has bakery mix facilities in Bradley, Ill.; Modesto, Calif.; and Seattle. Its frozen dough plants are in Mexico, Mo., and Tustin and Modesto, Calif. A syrup and toppings plant is in Seattle and bakery research and development facilities are located in Seattle and St. Louis. Miles Jones, Dawn executive vice-president, said the Bunge assets represent "an excellent geographic and product line fit" with Continued on Page 11 J&J Snack Foods plans to buy Country Home's Atlanta plant NEW HAVEN, CONN. - The U.S. Bankruptcy Court for the District of Connecticut has scheduled a Dec. 19 hearing on a motion by Country Home Bakers, Inc. to sell its remaining assets to J&J Snack Foods Corp. J&J, based at Pennsauken, N.J., has agreed to purchase Country Home's Metropolitan Parkway plant in Atlanta and its Shelton, Conn., office assets for $7.4 million plus consideration of up to $1.3 million aris- LATE ing from the release of certain employe severance and related employment claims. Country Home, which has been operating under Chapter 11 bankruptcy provisions since last February, currently has 300 employes. The sale of the Country Home assets to J&J Snack Foods is subject to higher and better offers at an auction to be conducted Continued on Page 10 NEWS ST. LOUIS - Ralcorp Holdings, Inc. last week increased its presence in the food service business and entered the frozen food segment by completing the acquisition of Bakery Chef, Inc., a producer of frozen griddle products (pancakes, waffles and French toast) and other frozen, pre-baked foods. "Ralcorp is now poised to take advantage of growth opportunities in frozen foods and enhance its offerings to food service customers," Joe R. Micheletto, vice-chairman, said Dec. 3. Under the purchase agreement (see Milling & Baking News of Nov. 18, Page 10), Ralcorp Continued on Page 8 Ralcorp completes purchase inside THIS WEEK Ingredient Hausmann up at Bunge; Klein to retire Frito-Lay closing Louisville facility 10 13 Microbiologist to replace Levitt at C.F.S.A.N. 18 Week 30

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Milling & Baking News - December 9, 2003