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LA Group to Buy Maker of Veg-O-Matic

March 26, 1997|(Associated Press)

Ronco Inc., maker of the Popeil Pocket Fisherman, Veg-O-Matic and other products advertised on television, has agreed to be acquired by LA Group Inc. for $25 million in cash and stock. The deal should be completed within two months, LA Group President and Chief Executive Daniel Fasano said. LA Group, based in Rochester, N.Y., sells products through infomercials and "Seen on TV" kiosks in retail stores. The Ronco name will continue to be used, but LA Group will hold most of the company's assets, Fasano said. Ron Popeil, founder and president of Los Angeles-based Ronco, will continue to develop products as a private consultant for LA Group, Fasano said. Popeil has long been a familiar figure in so-called direct-response TV sales. He has sold more than $300 million worth of products, LA Group said.

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