ITALY'S BUITONI ACQUIRES VISMARA FOOD GROUP
Carlo De Benedetti's food
company Industrie Buitoni Perugina Spa said it has acquired the
Italian food group Vismara.
    Buitoni said in a statement that Vismara had 1986 sales of
181 billion lire and net profit of 11 billion lire, employs 950
people and has four subsidaries.
    Buitoni did not disclose financial details about the
acquisition. De Benedetti said last week that his group was
negotiating a purchase of an unidentified Italian food firm.
    Vismara primarily produces a variety of pork products. "The
acquisition represents a diversification in a market sector
with annual consumption of 8,500 billion lire," Buitoni said.
    Buitoni also said its consolidated revenue during the first
quarter of this year was 429 billion lire, up 51 pct from the
comparable 1986 period.
    As reported, Buitoni's consolidated revenue rose last year
to 1,623 billion lire from 1,177 billion in 1985. Net profit
rose to 18.5 billion lire from 448 mln lire in 1985.
 Reuter
