Strategy

The fourth annual Progressive Grocer ProGro and Cannondale Associates PowerRanking Awards banquet, celebrating the "best of the best" in retailing and manufacturing, is scheduled for Nov. 1 at the Intercontinental Hotel in Chicago.

PepsiCo said today it has completed its merger with The Quaker Oats Company, creating a $25 billion food and beverage company sharply focused on the rapidly growing consumer demand for convenience.

Fenway Partners, a private investment firm, announced today that The H. J. Heinz Company has purchased Delimex, a rapidly growing producer and distributor of branded, high-quality frozen Mexican foods. Terms of the transaction were not disclosed.

Jack H. Brown, chairman, president and CEO of Stater Bros. Holdings Inc. announced financial results for the 13-week third quarter and 39 weeks year to date period ended on June 24, 2001. Sales for the third quarter ended June 24, 2001 increased 5.4% to $639.9 million compared to $607.3 million for the 13 weeks ended June 25, 2000.

PepsiCo and The Quaker Oats Company said today they have received unconditional clearance from the Federal Trade Commission to merge. With the last remaining regulatory hurdle to the transaction removed, they intend to complete the transaction within the next several business days.

Food Distributors International (FDI) and National Grocers Association (N.G.A.) announced today that they are partnering with AmeriQuest, the transportation and logistics company based here, to launch a new buying service that will save member companies that operate truck fleets millions of dollars in lower prices and new efficiencies. The new service, www.foodfleetxchange.com, opened for business today.

William F. Christ, Executive Vice President and Chief Operations Officer, Hershey Foods Corporation, today announced that Hershey do Brasil, Hershey Foods' Brazilian subsidiary, has acquired the chocolate and confectionery business of Visagis.

SYSCO Corporation, the largest foodservice marketing and distribution organization in North America, today announced diluted earnings per share of $0.88 on sales of $21.8 billion for the fiscal year ended June 30, 2001, marking the 25th year of uninterrupted sales and earnings increases.