U.S. Business: Milk & Chips

The need to nibble is rooted deep in the human personality—and TV watching and growing liquor consumption have increased that need to a new pitch.

The result may put pounds on the populace, but "It also means an astounding expansion for the snack industry, which last year accounted for almost $2 billion in sales of everything from potato chips to pretzels to pralines. Attracted by such growth, dozens of big companies have hastened to get in their licks. One such is the Borden Co., a conservative, 107-year-old dairy company that bought out Cracker Jack and a pretzel and corn-chip manufacturer as part...

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