COMPANY REPORTS;Anheuser-Busch Shutting Its Eagle Snack-Food Unit – The New York Times

Not included in the sale was Eagle’s salted-nuts operations or the plant in Hyannis, Mass., which makes potato chips and popcorn under the Cape Cod brand. Anheuser is still looking for buyers for those divisions, and the Hyannis plant and its 100 workers are to continue operations for another 60 days.

All other plants, including Eagle’s St. Louis headquarters, will be closed. Anheuser-Busch will retain its Eagle trademark.

In October, Anheuser-Busch said Eagle Snacks had a book value of $240 million but that it expected to get substantially less for the unit. The company said then it had received “serious expressions of interest” from potential buyers. But analysts had predicted it would be tough to find a buyer for the unit, which lost $25 million in 1995.

“We would have preferred to preserve Eagle in its entirety as an ongoing business, but this proved to be impossible,” John Jacob, an executive vice president at Anheuser-Busch, said.