Nash Finch Co., Minneapolis, said last week it has terminated a previously announced agreement in principle to acquire Fairway Foods of Michigan, Menominee, Mich., a wholesale division of Fairway Foods, Bloomington, Minn. Ron Marshall, Nash Finch president and chief executive officer, said, "Our due diligence has led us to conclude that this acquisition does not, and will not, meet the business criteria we established for the transaction."
l Markets, which are based in Hayward, Calif. The company said it is studying whether or not to retain that office location.
Wal-Mart Stores, Bentonville, Ark., said last week it has formed a strategic alliance with America Online, Dulles, Va., to provide the majority of Wal-Mart communities with low-cost Internet access. The agreement created a co-branded Internet service provider, Wal-Mart.com, and numerous cross-marketing initiatives between the two companies. Also last week, Kmart, Troy, Mich., said it has formed a strategic alliance with Yahoo!, Santa Clara, Calif., to give Kmart customers free Internet access through BlueLight.com.
General Mills, Minneapolis, said last week it has signed an agreement in principle to purchase the privately held Small Planet Foods, Sedro-Woolley, Wash., a producer of organic food products. Small Planet's Cascadian Farm and Muir Glen brands are part of the acquisition, although Fantastic Foods, formerly part of the group, will stay with its former owner and is not part of this acquisition. Cascadian Farm organic frozen fruits, vegetables, juices and entrees and the Muir Glen line of organic canned tomatoes, pasta sauces, salsa and condiments, have combined annual sales of $60 million, the companies said. Terms of the sale were not disclosed. General Mills introduced its first cereal made with certified organic ingredients, Sunrise, earlier this year.
