The one asset that is always in demand is food. We may have periods of resession and surplus, but Food remains on high demand.
RFBC’s aggressive merger and acquisition strategy is instrumental in their growth as pointed out by Morrie Fogelbaum, Chairman of Romana:
“Our objective of becoming the new Italian food leader is becoming a reality thanks to our Mergers and Acquisitions strategy bringing one acquisition and integration at a time. This brings us a step closer to our target of achieving $100 million in Revenue for 2018“.
With A Distinctive “Made in Italy” Savory Signature, Michelis Brings Romana Quality, Authenticity, and Annual Revenues in the Range of 19 Million Dollars
OAKVILLE, ON, Jan. 16, 2018 /PRNewswire/ – Romana Food Brands Corp. (OTC Markets: RFBC) announced today the signing of a binding letter of intent to acquire the northern Italian based specialty artisanal producer Michelis Egidio SNC di Michelis C.M.M. (“Michelis”). This strategic acquisition will add $19 million USD in Annual Revenue to the corporation.
Romana will acquire 100% of Michelis, which was founded in 1919 and specializes in the production of fresh, dried and frozen pasta, baked goods and a line of desserts. According to the letter of intent, the company will proceed with a formal due-diligence, and expects to sign a definitive agreement within the next month and close the acquisition on or before April 30, 2018.
Michelis supplies numerous restaurants and vendors, including the distinguished global Eataly Italian marketplace; an establishment comprised of a variety of restaurants, bakeries, retail merchandise vendors and cooking schools. Eataly delivers to the most discerning palates for fine Italian cuisine from New York to Tokyo, and will soon be opening in Toronto.
“The integration of Michelis branded products within our distribution channels makes this a perfect match” said Morrie Fogelbaum, Chairman of Romana. “Our objective of becoming the new Italian food leader is becoming a reality thanks to our Mergers and Acquisitions strategy bringing one acquisition and integration at a time. This brings us a step closer to our target of achieving $100 million in Revenue for 2018″.
The company is developing new technology to create the next generation of food traceability and control to be equipped for the ever-growing risks associated with health matters and the protection of brand trademarks. This technology is being created in partnership with leading experts and will yield significant returns to shareholders of Romana Food Brands Corp.
RFBC could be the most complete play we’ve seen in a very long time; when you see the key points all in one place it’s jaw-dropping… how they’ve slid under the radar until now is almost inconceivable:
In summary, RFBC has the distribution, revenues and business model to rival some of its competitors, presenting us with a potential long term and short term winner.
Continue your research on RFBC and make sure to stay up to date.
We have received twelve thsnd dlrs via a bank wire for the awareness of FRBC
All of the information in this report is gathered from public information released by the company.
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