Diamond Ranch Foods
Signs Letter of Intent to Acquire Executive Seafood, Inc.
New York, New York - April 28, 2010 -- Diamond Ranch Foods, Ltd. (OTC BB: DRFO) (Berlin WKN# A0RNQK), a meat and poultry processing and foodservice distribution company, is pleased to announce that the Company has executed a ‘Letter of Intent’ to acquire the business operations and customer accounts of Executive Seafood, Inc., which the Company anticipates to close within 30 days.
Diamond
Ranch Foods anticipates a uniquely seamless transition upon concluding
the final non-dilutive acquisition terms that establish Executive Seafood
as a wholly owned subsidiary of the Company.
Further,
the management at Diamond Ranch Foods will look to quickly incorporate
the new seafood category into the their existing meat and poultry business,
as the Company plans to implement an immediate cross- selling focus
on Executive Seafood’s products to all Diamond Ranch Foods customers
throughout New York, New Jersey and Connecticut.
Executive
Seafood, Inc. is a premiere wholesaler of the finest, freshest seafood
available, with a reputation for the highest quality seafood selections
from an unsurpassed variety of fish offered daily.
As
one of these select wholesalers, Executive Seafood has distinguished
itself by serving many of the most upscale restaurants and country clubs
in the tri-state area.
President
and CEO for Diamond Ranch Foods, Mr. Louis Vucci, states: “The acquisition
of Executive Seafood is certainly a top priority, so we will be working
diligently to complete this transaction in a timely manner. Indeed,
the successful addition of their seafood operations should markedly
increase our annual revenues, and further serve to fortify our double-digit
quarterly growth plans. We expect to announce the completion of this
acquisition in the next 30 days.”
About Diamond Ranch Foods, Ltd.
Diamond
Ranch Foods is a highly strategic food group distributor and processor
of a broad selection of the finest quality meats, poultry and foodservice
items, including private label and custom-cuts, which can be prepared
fresh, frozen or vacuum-packed. The Company operates a fleet of refrigerated
trucks for delivery throughout the New York metropolitan area and ships
coast to coast via common carrier.
The Company‘s USDA-inspected facility is located in the Hunts Point Cooperative Market (Bronx, New York), which is the largest food distribution center in the world , and boasts a highly-diversified customer base throughout the tri-state region, including; supermarkets chains, restaurants, hotels, deli/catering operators, institutions and industry suppliers.
Please
visit www.DiamondRanchFoods.
Safe Harbor Statement
Statements
contained in this presentation that are not strictly historical are
"forward-looking" statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
and Exchange Act of 1934. The forward-looking statements are made based
on information available as of the date hereof, and the Company assumes
no obligation to update such forward-looking statements. Forward-looking
statements are sometimes identified by words such as "intends",
"anticipates", "believes", "expects",
and "hopes" and involve a number of risks and uncertainties
that could cause the Company's actual results to differ materially from
projected results. All parties are cautioned that such forward-looking
statements involve risks and uncertainties that could cause the Company's
actual results to differ materially from those in these forward-looking
statements. Such risks and uncertainties include but are not limited
to demand for the Company's products and services and any other factors
that may be more fully described in reports to shareholders and periodic
filings with the Securities and Exchange Commission.
Diamond Ranch Foods, Ltd.
355 Food Center Drive, B-1
Bronx, NY 10474
Investor Relations Contact:
Jon Barkman
Riverview Capital Enterprises
Ph: (866) 845-0105
© 2010 Diamond Ranch Foods, Ltd.