New Leaf Brands (NLEF) Acquires Beverage Network of Maryland; Gains Strong Distribution Operation in the Mid-Atlantic Region
April 24 2013 - 12:35PM
Marketwired
New Leaf Brands, Inc. (PINKSHEETS: NLEF), a diversified beverage
holding company acquiring brands, distributors and co-packers, has
purchased all of the outstanding common stock of Master
Distributors, Inc. for $2,900,000 in cash and stock. Master
Distributors, which operates as Beverage Network of Maryland, is a
leading distributor of top quality beverage products in the
Mid-Atlantic market, with projected 2013 sales of more than 550,000
cases totaling approximately $6.0 million in sales. Details of the
acquisition will be available in New Leaf's forthcoming Form 8-K.
CEO David N. Fuselier said, "New Leaf is delighted to launch our
distribution operations with this great acquisition. Beverage
Network of Maryland has an extremely strong reach throughout one of
America's largest metropolitan regions. Its distribution channels
and accounts will help us greatly expand sales not only for New
Leaf's own brand, but for brands that we partner with, or acquire,
in the future."
Beverage Network of Maryland's Morris Stodard will remain with
the company as president and also will manage New Leaf's
distribution operations. One of the most experienced distribution
managers in beverage and snack distribution in the U.S., Mr.
Stodard has more than four decades in the industry. Before
purchasing the company's predecessor in 1999, Mr. Stodard served in
key roles at various major companies, including Director of Sales
for Joseph Schlitz Brewery and Vice President of Sales for the
Frito Lay division of PepsiCo.
"With the additional support and expertise that New Leaf and its
team brings to the table, I am confident that we can expand our
geographic area, increase our buying power and better serve our
customers," said Mr. Stodard. "We are very excited about joining
New Leaf and building a powerful beverage distribution network
throughout the Northeast Corridor."
Beverage Network of Maryland is headquartered in Jessup,
Maryland, strategically located between Baltimore and Washington,
D.C. The company serves more than 2,000 accounts with eight sales
representatives and nine delivery routes. It provides its
customers, including Giant Food, the largest grocery chain in the
Baltimore/Washington market, with such brands as Voss waters,
Xyience Energy drinks, and Vernor's Ginger Ale brands as well as
others. In addition, the company distributes for 20 suppliers of
beverage products with more than 200 SKU's.
About New Leaf Brands, Inc.
New Leaf Brands, Inc. (PINKSHEETS: NLEF) is a diversified
beverage holding company acquiring brands, distributors and
co-packers in North America. For our customers, we develop and
distribute high quality, great-tasting beverages in well-placed
consumer markets. For our shareholders, we acquire companies that
build, maintain and nourish shareholder value. Our corporate
mission is to be the best small-cap beverage holding company in
North America.
This press release may contain forward-looking statements, made
in reliance upon Section 21D of the Exchange Act of 1934, which
involve known and unknown risks, uncertainties or other factors
that could cause actual results to differ materially from the
results, performance, or expectations implied by these
forward-looking statements. The Company's expectations, among other
things, are dependent upon economic conditions, continued demand
for its products, the availability of raw materials, retention of
its key management and operating personnel, its ability to operate
its subsidiary companies effectively, need for and availability of
more capital as well as other uncontrollable or unknown factors
which are more fully disclosed in the Company's 10-Ks and 10-Qs on
file with the Securities and Exchange Commission.
Contact: David N. Fuselier Chief Executive Officer
(201)-784-2400