World News: 15:00 GMT Wednesday 11th July 2018. [US Highland, Inc. via Globe Newswire via SPi World News]
PHOENIX, July 11, 2018 (GLOBE NEWSWIRE) -- US Highland (OTC:UHLN), a franchise development company that builds and acquires franchise concepts, as well as other related businesses, throughout the United States and International markets, is pleased to announce the completion and execution of the acquisition of Supreme Sweets, Inc., adding millions of dollars in assets and significant revenues to the Company. The Company previously announced the initiation of the corporate name and ticker change to CRUZANI in line with the new corporate direction.
The definitive agreements relating to the acquisition of, select assets, of the Supreme Sweets operations have been completed and executed; the multi stage close is underway. Supreme Sweets, Inc., a Toronto based commercial bakery that designs, produces and delivers custom private label products for restaurant chains and grocery retailers. Founded and managed by Mario and Barbara Parravano, Supreme Sweets brings over 70 years’ of experience in the food industry, encompassing the creation of unique product lines, designing manufacturing equipment and a business with over $25mm in revenue with 300 employees.
Supreme has been in operation since 2015, and they have established a strong customer base with national and international retailers. The Supreme 38,000 sq. ft. facility has the capability to produce any mixed, fresh baked, par-baked, frozen, fried, extruded or cold-slabbed product. The acquisition will bring several million dollars of hard assets onto the Company’s balance sheet as well as a manufacturing component with projected annual run rates (revenues) exceeding seven figures, once fully implemented.
Everett Dickson, CEO commented, “We are excited to finally complete this stage of the acquisition, both parties worked long and hard to conclude the transaction timely. The Supreme Sweets team and operating assets offer huge potential and we look forward to working with them in the continued growth of the company.”
Mario Parravano, President of Supreme Sweets commented, “This acquisition will allow Supreme Sweets team, to implement an aggressive widespread distribution of our existing and new great food products. Our years of experience and the synergy in the direction of CRUZANI is a perfect fit. We look forward to the future growth of the company.”
In March, 2018, the company announced that it had acquired 100% of a health-conscious, restaurant concept, which will offer consumers a healthy diverse menu made with fresh organic ingredients every day. The brand is also headquartered in Atlanta, Georgia and is currently expanding across the Southeast. The chain offers consumers a healthy, diverse menu made with fresh organic ingredients every day. The brand offers a diverse menu from flatbread sandwiches, bowls, wraps, salads, and fresh proteins such as chicken, turkey, steak and falafel. All entrees are also available in pre-packaged “meal plans,” for take-out.
Safe Harbor Statement
This communication contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of US Highland, Inc and members of its management as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions.
The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Everett M. Dickson, CEO email@example.com 3500 Lennox Road Suite 1500 Atlanta, GA 30309 (404) 419-2253
Globe Newswire: 15:00 GMT Wednesday 11th July 2018
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2018. [Admin Only]
Sector Publishing Intelligence Ltd.
Ground Floor Offices, Little Keep Gate, Barrack Road, Dorchester, Dorset DT1 1AH
Registered in England and Wales number 0751938.