Broughton Foods to Acquire Michigan Dairy

Broughton Foods (Marietta, OH) has signed a definitive agreement to acquire London's Farm Dairy, Inc. of Port Huron, MI from Key Equity Capital, its principal shareholder. The proposed transaction is expected to close by the end of May 1998.

London's Farm Dairy processes milk, orange juice and cultured products in a Port Huron facility, and produces ice cream at a Burton, MI plant.

Broughton Foods' president and CEO, Philip E. Cline, said, "We feel this acquisition will strategically place Broughton to compete effectively within the rapidly consolidating dairy industry by establishing positions in new markets while still allowing the establishment of synergistic efficiencies."

Cline said Broughton Foods expects to continue operating the acquisition as London's Farm Dairy and to retain the current management team and employee base.

Broughton Foods Company is a leading manufacturer and distributor of fresh milk and dairy products in Ohio, West Virginia, Kentucky, Tennessee and parts of the eastern United States.

Edited by Pam Ahlberg