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Article: Hanover buys Wege Pretzel
- Article from:
- Central Penn Business Journal
- Article date:
- January 23, 2004
- Author:
CopyrightCopyright Journal Publications Inc. Jan 23, 2004. Provided by ProQuest LLC. (Hide copyright information)
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Ike Laughman said he spent a week negotiating to buy Wege Pretzel Co. from the family that owned it in 1970. He took a bit longer to sell.
Laughman negotiated for years before striking a deal to sell Wege Pretzel last month. Hanover Foods Corp. bought the pretzel maker for $4 million. (Wege is pronounced
-We've been talking to them for seven years," said Pete Giraffa, controller of Hanover Foods.
Laughman and industry executives predicted Hanover Foods would do well with Wege, despite a challenging market for pretzels.
Pretzels are low in fat but relatively high in carbohydrates. Sales are sluggish as Americans turn to low-carb foods, said Ann Wilkes, a spokeswoman for the Snack Food ...