Interstate United will be acquired by Transworld.
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Transworld Corp. agreed to purchase the food service management firm from Hanson Trust PLC of Great Britain for $92.5 million in cash. The New York-based company said it plans to operate Interstate United as part of its Canteen Corp. subsidiary--which, after the combination, will have sales of about $1.3 billion. Interstate United is also engaged in contract services in the leisure, commercial, health and educational markets nationwide. The transaction has been approved by the boards of both companies.
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