ASTRAL FOODS CLOSES TRANSACTION WITH MACKENZIE LIMITED.
ATLANTA, GA – July 5, 2006 – Astral Foods announced today that it has successfully closed its transaction with Mackenzie Limited. As a result of this transaction, Mackenzie Limited. is now a fully owned subsidiary of Astral Foods, a division of Atlanta-based Astral Brands, LLC. Mackenzie will begin immediately operating under the umbrella of Astral Foods and will continue to operate under its current management structure and headquarters in Baltimore, MD. Manufacturing and fulfillment will consolidate with World Class Fulfillment of Baltimore, MD, another wholly-owned subsidiary of Astral Foods and the leading perishable food fulfillment company in the country.
"Mackenzie has a 16-year tradition as a purveyor of fine quality specialty foods," said Steve Cohen, President of Astral Foods. "After a substantial investment in Mackenzie, we are excited to take the next step in our relationship that will enable Mackenzie to further expand its position in the sector."
The transaction will accelerate Mackenzie's commitment to growth by leveraging Astral Foods's infrastructure of brand creation, management and multi-channel marketing expertise. It will also further broaden Mackenzie's product offering and geographic coverage. Furthermore, the marriage of the brands unites the professional talents of both companies to enable Astral Foods to dominate the gourmet food industry in all aspects of multi-channel marketing, including via catalog, brick and mortar, home shopping and online sales.
"We are pleased to have successful closure on the transaction," said Cohen. "Both management teams are passionate about creating and enabling superior consumer gourmet food products. Our combined teams will become a powerful force in the sector."
About Astral Foods: Astral Foods is an innovator in the creation and management of high-end gourmet food products, including manufacture and large-scale fulfillment of perishable products from their state-of-the-art plant, World Class Fulfillment, Baltimore, Md. The company, established in 1983, has grown and multiplied, and was acquired by Astral Brands, LLC of Atlanta, Ga. in 2004. Astral Brands generates approximately $100 million in annual wholesale sales and has 350 employees in North America. www.astralbrands.com.