Naturally Splendid Enterprises' CEO Dave Eto Discusses the Company and the Acquisition of 100% of Prosnack Natural Foods - Video of Interview on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2017) - Naturally Splendid Enterprises' (TSXV: NSP) (FSE: 50N) (OTCQB: NSPDF) CEO, Dave Eto, discusses the company and its acquisition of 100% of Prosnack Natural Foods.
Prosnack's innovative "Elevate Me™" brand focuses on lifestyle and healthy meal replacement products that include energy bars and on-the-go oatmeals that are currently distributed throughout North America. The Elevate Me™ brand can be found in over 1,000 retail stores including major retailers such as Costco, Whole Foods, Choices, Save On Foods, Sobeys, London Drugs, Thrifty's, Rexall and many more. A unique feature of Prosnack is its ongoing success strategy of private labelling for major retailers in North America and co-packing for other manufacturers globally. The combination of Elevate Me™ products and its private label clients is almost $8,000,000 CDN in sales over the past four years.
The video of the interview (view here) is available on InvestmentPitch Media's website. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Naturally Splendid" in the search box. The video is also available for viewing on YouTube. (view here)
Naturally Splendid CEO Mr. Dave Eto stated: "Our new relationship with Prosnack and its founders, Alan Maddox and Jim Pratt, continues our strategy to gain market share in the 'healthy food sector' retail markets. Not only will synergies benefit Naturally Splendid with enhanced and effective operating costs, leverage distribution and innovative products, but Alan's relationships with retailers and co-packers and his business acumen strengthens both companies Canadian and US marketing and branding capabilities."
Upon completion of the acquisition, Alan Maddox is expected to become Executive VP, Sales and Marketing for Naturally Splendid. Alan has built a successful career in the food industry spanning over 34 years. In addition to developing sales for Prosnack, Alan held the position of Director of International Sales for McCain Foods where he was responsible for overseeing sales development in over 70 countries around the world. As President of Sepp's Food Group in the early 1990's he was instrumental in developing the company into one of the leading natural organic frozen breakfast food manufacturers in North America, growing sales from $1,000,000 CDN to over $88,000,000 CDN annually.
Mr. Maddox stated, "This is an excellent environment for me to leverage my experience and contacts to combine distribution channels and move Elevate Me™ and products of Naturally Splendid to the next level — to be quicker and stronger throughout Canada, USA and internationally. With the fine brands of Prosnack complimenting the family of high quality products of NSE, I am very pleased to be part of the Naturally Splendid Family."
Upon closing, Jim Pratt is expected to join Naturally Splendid's Advisory Board. Naturally Splendid expects that his experience gained as a former investment banker on Bay Street in Toronto, and having directly overseen 15 acquisitions and divestitures with Sepp's Food Group while serving as CFO and CEO, will be of great benefit. Mr. Pratt's continuing involvement with the BC Food Processors Association as Chair establishes his credentials as a food sector leader and provides Naturally Splendid with additional insights into evolving markets and opportunities.
Mr. Pratt stated, "I'm excited to join Naturally Splendid in an advisory role. The Prosnack Natural Foods suite of products will add to the exciting story that NSE is developing in the consumer product and healthy food markets and I look forward to being part of that story."
The company announced a non-brokered private placement to raise gross proceeds of up to $1,250,000 through the issuance of 6,944,444 units at $0.18 per unit, with each unit consisting of 1 share and one-half a warrant, with each full warrant exercisable $0.27 for 24 months, subject to an acceleration clause. In addition to accredited investors, the private placement is also available to current shareholders.
The shares are trading at $0.175, and with 76 million shares outstanding, the company is capitalized at $13.3 million.
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Source: Newsfile Corp.