W.R. GRACE <GRA>, BERISFORD PLAN COCOA VENTURE
W.R. Grace and Co said it has agreed to
combine its cocoa processing businesses with those of S. and W.
Berisford PLC.
    It said the joint venture, to be 68.4 pct owned by Grace
and 31.6 pct by Berisford, would have annual sales in 1987 of
over 700 mln dlrs.
    Grace said the transaction involves the combination of its
cocoa products division and two Berisford cocoa processing
units, which would be operated under Grace management.
    The company said Berisford would contribute its Dutch and
West German cocoa subsidiaries and issue new ordinary shares to
Grace in connection with the transaction.  It said closing is
expected by early fall, subject to regulatory approvals.
 Reuter
