In the '70s packaged-food companies went on a buying binge, gobbling up disparate lines of business that ranged from luggage to toys to women's clothing. Now many are discovering that their eyes were bigger than their stomach, and they are getting back to basic areas of expertise. The latest to join the trend is Chicago's Quaker Oats, the breakfast giant. It will shed its nonfood division, the Specialty Retailing Group, which accounts for 6% of the company's $3.67 billion in sales. Acting on the same impulse, Northbrook, Ill.-based Dart & Kraft (1985 sales: $9.9 billion) had previously announced that it would...
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