Foodfest International 2000 Inc. Closes Merger Agreement
December 29 2010 - 11:09AM
Foodfest International 2000 Inc. (OTCBB:FDFT) completed the
acquisition of all of the issued and outstanding shares of Foodfest
International 2000, Inc., a private company incorporated under the
laws of Ontario, Canada ("CanCo") on December 20, 2010. CanCo is in
the business of processing and distributing kosher, natural, and
organic food and drink. Upon closing, CanCo became a wholly owned
subsidiary of the Company. The combined entity has approximately
$12.9 million in net sales.
Foodfest International 2000 Inc. ("Foodfest" or the "Company")
was incorporated in Ontario, Canada on June 25, 1987 by Henry
Ender, Chief Executive Officer and Fred Farnden, President and
Chief Financial Officer. The Company was formed to align with food
distributors and processors specializing in kosher, natural, and
organic food and drink to expand sales and manufacturing growth
opportunities.
Foodfest is one of the largest kosher food distributors in North
America and its mission statement is simple: To be the best
supplier of Kosher, natural and organic food and drink to existing
and new customers through its association with associated companies
and suppliers servicing retail and institutional markets in North
America and globally.
About Foodfest International 2000 Inc.
Foodfest International seeks out new opportunities to enter into
new broker agreements representing companies with products focused
on Kosher, organic, and/or natural qualities. In addition, Foodfest
International will pursue acquisitions or joint ventures with other
brokerage firms, distributors, and manufacturers that also focus on
these Kosher, organic, and natural qualities. Through its wholly
owned subsidiaries and partnerships, Foodfest International sells
and distributes a diversified portfolio of high-quality,
shelf-stable, frozen and refrigerated foods across North America.
For further information on company developments and information,
please visit our website at www.foodfestamerica.com.
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.
Statements that are not historical facts, including statements
about Foodfest International 200, Inc.'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 10-K and other documents
filed with the Securities and Exchange Commission. All information
provided in this press release is as of December 28, 2010 and
Foodfest International 2000, Inc. undertakes no duty to update such
information, except as required under applicable law.
CONTACT: Foodfest International 2000 Inc.
Fred Farnden
+1 778-578-7157
Foodfest International 2... (CE) (USOTC:FDFT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Foodfest International 2... (CE) (USOTC:FDFT)
Historical Stock Chart
From Jul 2023 to Jul 2024