Exhibit 99.9
FOR IMMEDIATE RELEASE: September 12, 2000
SPECIALTY FOODS ANNOUNCES SALE
OF MOTHER'S AND ARCHWAY COOKIE COMPANIES
TO PARMALAT
DEERFIELD, IL - Specialty Foods Corporation today announced
that it has signed an agreement to sell Mother's Cake &
Cookie Company and Archway Cookies to Parmalat SpA. The
purchase price is $250 million.
Completion of the transaction is subject to customary
governmental approval and certain conditions related to the
financial reorganization of the Specialty Foods parent
holding companies.
Mother's and Archway form the third largest cookie company
in the United States. Parmalat, which is based in Italy, is
one of the world's largest food companies and is present in
31 countries across 5 continents. With annual sales of over
$6 billion, Parmalat is a world leader in liquid milks and
has leading positions in several other product categories.
"We are very pleased to add Mother's and Archway to our
rapidly growing North American bakery businesses," said
Robert Cortese, Parmalat's Global Head of Bakery. "These
are outstanding brands with very significant opportunities
for growth. We look forward to welcoming the Mother's and
Archway employees and distributors to the Parmalat family of
companies."
The financial reorganization of the Specialty Foods parent
holding companies will be completed in accordance with the
agreement between Specialty Foods and certain of its
bondholders as announced in June of this year. Specialty
Foods will announce its plans in the near future.
Specialty Foods is a privately-held company formed in 1993.
The company's previous holdings included Stella Foods, a
leading cheese producer sold in 1997, and Metz Baking
Company, the leading Midwest bread company, sold in March of
this year.
Contact: Media: Andy Stern, Sunwest Communications, Inc. (214) 373-1601, x228
Investors: Sean Stack, Specialty Foods (847) 405-5330
