B&D Successfully Concludes Transaction to Become the Lead Shareholder of the Canaan Company Group, Rio de Janeiro, Brazil
January 29 2008 - 11:25AM
PR Newswire (US)
NEW YORK, Jan. 29 /PRNewswire-FirstCall/ -- B&D(R) Food Corp.
(OTC Bulletin Board: BDFC.OB) operating in the food and beverage
industry, B&D specializes in the trading, roasting and
distribution of top quality Arabica coffee and related products out
of Brazil and Ethiopia. The Canaan Group, now controlled by
B&D, is comprised of three subsidiaries: -- Socan Produtos
Alimenticios Ltda.: Brazil's 12th largest roaster and the owner of
several successful brands in the State of Rio de Janeiro. -- Leite
Canaan Industria e Comercio Ltda.: A powdered milk producer and
distributor. -- Geskan Industria e Comercio Ltda.: A specialty-item
factory that produces easy-to-use coffee pods for domestic and
office use. The Canaan Group, a well-established operation with an
extensive market hold in the Rio de Janeiro State, has shown
increasing revenues throughout the past years. The former owner,
Mr. Gilberto Codognotto, will be joining B&D's board of
directors and will continue managing the factories. Mr. Daniel
Ollech, B&D President, said today that B&D plans to
integrate its future capabilities of growing Green Coffee Beans in
Ethiopia and its instant coffee production in the Cruzeiro,
Sao-Paulo factory, with all three Canaan companies in order to sell
its products throughout South Brazil. B&D continues to
implement its strategy of growth through acquisition and is in
various stages of negotiations with several companies worldwide.
Safe Harbor Statement This announcement contains forward-looking
statements. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and
similar statements. Among other things, expectations about the
Brazilian coffee and food market and quotations from management in
this announcement contain forward-looking statements. Statements
that are not historical facts, including statements about B&D
Food Corp's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties that could cause actual results to differ materially
from those contained in any forward- looking statements. Further
information regarding these and other risks is included in our
annual report on Form 10KSB and other documents filed with the
Securities and Exchange Commission. All information provided in
this press release is as of January 29, 2008 and B&D Food Corp.
undertakes no duty to update such information, except as required
under applicable law. DATASOURCE: B&D(R) Food Corp. CONTACT:
Daniel Ollech of B&D Food Corp., +1-646-652-6463, / Web site:
http://www.bdfcorp.com/
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