FTC Clears Kraft Acquisition of All American Gourmet

Kraft Inc. said Tuesday that its pending $370-million acquisition of All American Gourmet Co. of Orange has been cleared by the Federal Trade Commission.

Kraft said it has been informed that its request for early termination of the waiting period required under the Hart-Scott-Rodino Act was approved by the FTC, which polices corporate acquisitions for potential antitrust problems.

On June 4, General Host Corp. agreed to sell its 75% stake in All American Gourmet to Kraft for $296 million. Kraft has offered to purchase the remaining 25% of All American’s publicly held stock for $74 million, or $18 per share. The tender offer expires at midnight July 2.

All American manufactures and markets three lines of frozen dinners under the “Budget Gourmet” label. The company has 42 administrative employees in Orange and more than 900 workers at manufacturing facilities located in Pittsburgh, Atlanta and Salt Lake City.