New York / NY. (fhp) Fresh Harvest Products Inc., developer and marketer of natural and organic products, is pleased to announce that it has completed its asset acquisition of AC LaRocco Pizza Company, a twelve-year-old privately held purveyor of organic and natural frozen foods, located in Spokane, Washington state.
«The completion of this acquisition represents a significant step for Fresh Harvest in our strategy to accelerate growth in our business», said Michael J. Friedman, chief executive officer of Fresh Harvest. «Today, we significantly increased the depth and breadth of our products, sales and distribution across the nation into retailers such as Kroger (certain divisions), H-E-B, Albertsons (certain regions) and further enhances our foothold with the largest natural food retailer in the US. The addition of AC LaRocco will complement the sound internal growth that our Wings of Nature brand is achieving.
This transaction will add approximately 1,5 million USD in sales to our annual volume and should lead to increased efficiencies. We expect to benefit from an expanded customer base, as well as establishing our presence in the West and Midwest. We are now squarely focused on quickly seizing the attractive opportunities this transaction has created for us to increase top-line growth as well as achieving significant cost synergies in general and administrative expenses. With the acquisition now complete, Fresh Harvest is a stronger, more broadly based company than ever before, with increased capacity to reach new customers and the ability to provide current customers with enhanced products. We are looking forward to delivering on the promise of this acquisition and to building value for our Shareholders».