Vita Announces New Director
August 21 2007 - 12:48PM
PR Newswire (US)
CHICAGO, Aug. 21 /PRNewswire-FirstCall/ -- Vita Food Products, Inc.
(AMEX:VSF) today announced that David Allen was elected as a member
of its Board of Directors at the Company's Board Meeting held on
August 15, 2007. Mr. Allen has been named Chairman of the Company's
Audit Committee and has replaced Howard Bedford as a member of that
Committee. David Allen is a managing partner with Lake Pointe
Partners, LLC and has over 30 years experience in working with
underperforming companies. In the consumer products industry,
specifically, he has served in both advisory and interim management
roles with consumer products companies with annual revenues ranging
from $450 million to $1.5 billion. Prior to joining Lake Pointe,
Mr. Allen was a partner at several nationally recognized turnaround
management firms. He began his career in the tax department of
Arthur Andersen & Co. and served in management roles at Sara
Lee Corp. Mr. Allen has been an active member of the Turnaround
Management Association and a past president of the Association of
Certified Turnaround Professionals, on whose board he served for
several years. He has been President and a Director of the Indiana
University Business School Alumni Association and has served on the
Board of Directors for several privately held companies. Mr. Allen
has a BS in accounting and an MBA from Indiana University. The Vita
Seafood division is a U.S. leader in the herring and retail
packaged salmon markets, and is engaged in several other food
segments, including cream cheese, cocktail sauce, tartar sauce and
horseradish. More than 95% of Vita Seafood's sales are in kosher
foods. Vita Specialty Foods, Inc., the Company's wholly owned
subsidiary, markets and sells honey, salad dressings, barbecue
sauces and other meat enhancements and salsas. The Company markets
and sells these items under the Virginia Brand(R), Oak Hill
Farms(R), Scorned Woman(R), Jim Beam(R), Budweiser(TM), Dr
Pepper(R), 7UP(R) and A&W(R) brands. For more information visit
http://www.vitafoodproducts.com/ The common stock of Vita Food
Products, Inc. is currently traded on the American Stock Exchange
and Chicago Stock Exchange under the ticker symbol VSF. This
release contains forward-looking statements about the Company's
future growth and profitability. Any such statements are subject to
risks and uncertainties, including changes in economic and market
conditions, industry competition, raw material prices, the success
of new product introductions, management of growth and other risks
noted in the Company's filings with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on
forward-looking statements, which reflect management's analysis
only as of the date hereof. DATASOURCE: Vita Food Products, Inc.
CONTACT: Clifford Bolen, President and Chief Executive Officer of
Vita Food Products, Inc., +1-312-738-4500, Web site:
http://www.vitafoodproducts.com/
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