New York City, June 06, 2017 (GLOBE NEWSWIRE) --
NEW YORK, NY June 6th, 2017-- Hispanica International Delights of America, Inc. (OTCQB: HISP) (“Hispanica” or the “Company”), a rapidly growing company in the beverage and snack industry, today announced that it has signed a binding term sheet to acquire all the outstanding shares of Giant Beverage Company, Inc. (Giant Beverage) of New York City for cash and stock consideration. Giant Beverage is a Direct Store Delivery (DSD) company with eight routes servicing the five boroughs of New York City, the most lucrative market in the U.S. for premium beverages and snacks. Giant Beverage currently services over 500 retailers directly with well established brands such as Monster®, Arizona®, Snapple® as well as other highly sought after brands. Located in the borough of Staten Island, Giant Beverage’s warehousing and logistical capabilities will be a vital asset for Hispanica’s continued growth as it seeks to expand distribution of its own proprietary products into retailers inside New York City as well as neighboring New Jersey and other parts of the Tri-State Region.
Immediate benefits of the acquisition upon closing include:
- Based on Giant Beverage’s prior revenues, the company is expected to realize an Increase of over $4M in annual revenues, which would effectively more than double Hispanica’s annual revenues to over $8M.
- Provides immediate access to over 500 additional retailers and relationships in New York City.
- A high margin retail channel opportunity for our existing line of proprietary products and addition of valuable shelf space.
- Distribution relationships with large beverage companies such as Monster®, Dr Pepper® Snapple® and Arizona Beverages®.
Hispanica’s Chief Executive Officer, Mr. Fernando Oswaldo Leonzo stated: “This acquisition is a game changer for the company as it adds over 500 retail store relationships for our proprietary flagship product line GRAN NEVADA™. We expect this acquisition to have an almost immediate positive impact on our revenues, margins and our ability to add additional products to our pipeline. We are pleased to welcome the Giant Beverage management and staff to the Hispanica International family as we leverage our collective resources to address the tremendous business opportunities in front of us”.
Hispanica expects this transaction to be completed within the first quarter of its current fiscal year which began on June 1, 2017. The company ended its fiscal 2017 year on May 31, 2017. For more information on the acquisition, please read the 8K filed with the SEC on June 5th, 2016.
About Giant Beverage Company, Inc.
Giant Beverage Company, Inc. located in Staten, NY, one of the five boroughs of New York City with eight routes servicing all five boroughs. The company has revenues of over $4M a year and operates from a 7,500 Sq. ft. facility strategically located near the New Jersey side of Staten Island with easy access to the NJ Turnpike. The company currently services over 500 retailers throughout its 8 existing routes with plans to increase those routes over the next 12 months. The company has operated a successful wholesale platform for ten years with a steady and loyal customer base, employees, and vendors. The company sells only Ready To Drink (RTD) shelf stable beverages for its routes inside New York City.
About Hispanica International Delights of America, Inc.
Hispanic International Delights of America, Inc. (“HISP”) is a public company, founded in 2013. HISP is engaged in the distribution of proprietary, licensed and third-party Hispanic and ethnic food and beverages throughout the United States. Some of HISP’s products include fruit juices, nectars, and milk based products as well as teas, carbonated drinks, dry goods, preserves, frozen foods and bakery products. The brands distributed are done so on a proprietary basis (through distribution agreements and/or exclusive licensing arrangements). These brands emulate the flavors, tastes, and traditions, which have been known for generations among the Hispanic and other ethnic groups, and are now becoming part of the American mainstream diet. HISP is also committed in building long-term relationships with its consumers by offering superior, high quality products at the most competitive prices. HISP is headquartered in New York State with distribution operations under way in the New York City Tri-State Region, the Washington, D.C. Metro Area, the Houston Metropolitan Area, and in Los Angeles and the Northern California Region.
For more information on Hispanica International Delights of America, Inc. please visit http://www.hispanicadelights.com/
SAFE HARBOR ACT
Forward-Looking Statements: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Hispanica International Delights of America, Inc. its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements including those relating to the Company’s financing being adequate for the Company to close this acquisition, being able to place its products in the retail stores, to launch its growth and expansion plans among others, are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Hispanica International Delights of America, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. No information in this press release should be construed in any way whatsoever as an indication of Hispanica’s future revenues, financial performance or stock price. More information about the potential factors that could affect the business and financial results is and will be included in Hispanica International Delights of America, Inc.’s filings with the Securities and Exchange Commission at www.sec.gov.
Source:Hispanica International Delights of America, Inc.