Chock Full O’Nuts Seeks to Buy Tenco
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From United Press International
NEW YORK — Chock Full O’Nuts Corp. said it has signed a letter of intent to acquire the Tenco private-label instant coffee business of Tetley Inc. for about $7 million.
Tenco processes instant coffee and markets it to major supermarket chains for private-label sales. Revenue from its coffee business totaled $22 million in 1988.
Chock said it would sign a long-term lease on Tenco’s instant coffee plant in Linden, N.J., as part of the deal.
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