IMS MAKES ANOTHER PURCHASE
By Adnews Staff
International Menu Solutions of Kitchener, Ont. has bought Transcontinental Gourmet Foods of Toronto for $1,000,000 cash and restricted common shares. Along with the acquisition, IMS will also own 59% of Norbakco Ltd. of Toronto. Both companies market a line of frozen fillo dough, fillo pastry hors d'oeuvres and fresh and frozen baked desserts. IMS markets fresh and frozen entrees. With the purchase of Transcontinental, IMS will have access to the company's low-fat pastry technology to create a line of low-fat foods.
In October, IMS bought Pasta Kitchens of Toronto. Company president Michael Steele told Adnews in an earlier interview that IMS will begin advertising its products sometime next year. It will be handled in-house. Until now, the company has not done any advertising. IMS was established in November 1997.