Amcon Completes Acquisition of Hawaiian Natural Water.Business Editors HONOLULU--(BUSINESS WIRE)--Dec. 19, 2001 Amcon Distributing Company, a wholesale distributor of consumer products (AMEX AMEX See: American Stock Exchange :DIT), announced today that it has completed the acquisition of Hawaiian Natural Water Co. Amcon which is based out of Omaha, Nebraska, has provided assistance to Hawaiian Natural Water Company in creating a new, first-class bottling plant on the Big Island that will increase output from 40,000 cases to over 225,000 cases a month to help meet growing consumer demand. "We acquired Hawaiian Natural Water because it is a quality product with a big future that fits beautifully into our growing distribution business," said William F. "Bill" Wright, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Amcon. "We distribute many products and we wanted a healthful health·ful adj. 1. Conducive to good health; salutary. 2. Healthy. health  ful·ness n. , attractive, quality product of our own." The merger makes Hawaiian Natural Water a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Amcon. Shareholders of Hawaiian Natural Waters will receive Amcon shares, which are listed on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the symbol DIT. Distributed under the Hawaiian Springs trademark, Hawaiian Natural water is a premium brand that is naturally produced and bottled at the source. "We believe it can fill a growing niche market that seeks high quality natural water from recognized and respected sources," Wright said. Amcon is a leading distributor of such products as candy, beverages, tobacco, groceries, food service, frozen and chilled foods and health and beauty products. It also owns 14 health and natural product retail stores. This news release contains forward looking statements that are subject to risk and uncertainties and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, Company performances and financial results. A number of factors could affect the future results of the Company and could cause those results to differ materially from those expressed in the Company's forward looking statements. Moreover, post financial performance should not be considered a reliable indicator of future performance. Accordingly, the Company claims the protection of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward looking statements contained in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 with respect to all such forward looking statements. |
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