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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 21, 1995
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MICHAEL FOODS, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
0-15568 41-1579532
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(Commission File Number) (IRS Employer Identification No.)
Suite 324, Park National Bank Bldg.
5353 Wayzata Boulevard
Minneapolis, Minnesota 55416
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(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code) (612) 546-1500
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N/A
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On December 21, 1995 the Company, through its wholly-owned subsidiary
Northern Star Co., completed the purchase of the refrigerated potato products
line of Interstate Food Processing Corporation ("Interstate"). The assets
purchased included the customer list, equipment, inventory, supplies,
goodwill and a license of Interstate's "Quality Farms" trademark for the sale
of refrigerated potato products in the institutional/foodservice market.
Interstate has agreed to contract package products for the Company for an
interim period.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Press Release
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MICHAEL FOODS, INC.
Date: December 26, 1995 By: /s/ John D. Reedy
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John D. Reedy, Vice President-Finance,
Chief Financial Officer and Treasurer
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MICHAEL FOODS, INC. NEWS
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324 Park National Bank Building
5353 Wayzata Boulevard
Minneapolis, MN 55416
(612) 546-1500 FAX (612) 546-3711
Contact: MARK D. WITMER
DIRECTOR OF CORPORATE COMMUNICATIONS
(612) 546-1500
For Immediate Release
MICHAEL FOODS ACQUIRES REFRIGERATED POTATO PRODUCTS LINE
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MINNEAPOLIS, December 21 -- Michael Foods, Inc. (NMS-MIKL) announced today
that it has purchased the institutional refrigerated potato products business
of Interstate Food Processing Corp. Interstate is the second largest
producer in the U. S. foodservice refrigerated potato products market after
Michael Foods' Northern Star Co. subsidiary. The purchase includes all
institutional refrigerated potato products volume and related processing
equipment and a long-term license for the use of Interstate's Quality
Farms--Registered Trademark-- brand. In order to provide Michael Foods' new
customers with the same high quality products and service they have received
from Interstate, production and distribution will remain at Interstate's Fort
Fairfield, Maine plant under a co-packing arrangement. Terms of the purchase
were not disclosed.
Commenting on the acquisition, Chief Executive Officer Gregg A. Ostrander said,
"This purchase is an excellent fit with our strategic plan to grow our sales
and earnings by focusing primarily on value-added, refrigerated products sold
in the foodservice market. With the addition of the former Interstate
volume, we will solidify our standing as the premier supplier of high
quality refrigerated potato products in the U.S. We will work with the
former owners of this business to ensure that Interstate's customers continue
to receive their customary top quality refrigerated potato products and high
service level."
Michael Foods, Inc. is a diversified food processor and distributor with
particular interests in egg products, refrigerated grocery products, frozen
and refrigerated potato products and specialty dairy products. Principal
subsidiaries include M. G. Waldbaum Company, Crystal Farms Refrigerated
Distribution Company, Northern Star Co. and Kohler Mix Specialties, Inc.
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12-21-95
