PTA Holdings, Inc. Expects to Close Nortford, LLC Acquisition
Transaction by Year End
PHOENIX, Dec. 10, 2012 /PRNewswire/ -- PTA Holdings, Inc.
(Pink Sheets: PTAH) announced today that it has completed its
initial due diligence review of materials related to the previously
announced Nortford, LLC letter of intent. Nortford primarily serves
the agriculture and food processing sectors with a primary focus in
the egg industry. The Egg industry according to a 2010
national report is big business in Iowa, and the state's approximately 57 million
layers generate over 14,025 billion eggs each year making
Iowa the No. 1 egg-producing state
in the nation. The company anticipates the execution of a
Definitive Agreement, and transaction closing prior to year
end. Earlier the company announced that they had completed an
LOI for the purchase of Nortford, a $5,000,000 revenue, Iowa based Transportation Company.
Leonard J. Lewensohn, Chief
Executive Officer stated earlier that "we are making real progress
as the company pursues its acquisition roll-up strategy. The
Nortford transaction brings an annualized revenue base of
approximately $5,000,000 to our
company." He further stated that, "PTA Holdings, Inc. will
continue expanding the business through its roll-up strategy of
transportation companies."
About Nortford, LLC. : While our tradition
of service began with our produce marketing and truckload
services we've evolved into a first rate 3PL and
trucking operation with a comprehensive portfolio of sourcing,
transportation and logistics services. Our people, processes,
and technology improve our customer's transportation and supply
chains, as we deliver exceptional value to them. Our primary
business sector is the agriculture and food processing industry
offering a stable and growing source of business.
About PTA Holdings, Inc.: PTA Holdings, Inc. is a holding
company with a core focus in the automotive and for-hire
transportation industry. The Company acquired ProFlow Inc. in
April 2007. Kingsley Logistics Group,
acquired in June of 2012, is a multi-faceted transportation group
providing a broad array of traditional transportation and
management services. The focus of the combined companies is to
expand the company via a strategic transportation industry
roll-up.
Notice on Forward-Looking Statements:
This
news release includes forward-looking statements regarding PTA
Holdings, Inc. and its business. Such statements are based on
management's current expectations. The forward-looking events and
circumstances discussed in this release may not occur and actual
results could differ materially as a result of known and unknown
risk factors and uncertainties. Forward-looking statements speak
only as of the date on which they are made and PTA Holdings, Inc.
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise
For more information, visit
http://www.ptaholdings.net
Telephone (877)-636-4520
Investor Relations Contact: ir@ptaholdings.net
SOURCE PTA Holdings, Inc.