Diamond Ranch Foods Acquires Steiger Meats.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Diamond Ranch Foods, Ltd. (Pink Sheets:DFDR) announced today that the Company has acquired Steiger Meats, a long established quality meat and poultry distributor from New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , as well as a distributor of Hebrew National products for the New York City/Metropolitan area. Complete details of the acquisition have not been disclosed; however, payment was made to Steiger Meats in the form of restricted stock with no cash outlay by the Company. Steiger Meats has been distributing meat, poultry, and a full line of Hebrew National products for the past 25 years to countless regional customers. Mr. Jack Steiger, former President of Steiger Meats, will remain with Diamond Ranch Foods to facilitate a smooth transition of his existing client base. He will also work with the current sales and management team to further expand the business. According to Philip Serlin, COO, management expects to yield a multi-million dollar revenue boost upon full integration between the companies. Serlin went on to comment that, "This acquisition provides us with a new platform to continue our growth in all areas of our business. Not only do we pick up the current revenue stream of Steiger Meats, but we also can use their existing distribution channels for our entire product line. This merger creates a regional force within our industry and we fully intend to aggressively grow our company going forward." About Diamond Ranch Foods, Ltd. Diamond Ranch Foods, Ltd. processes and distributes meats and fresh cut portion controlled poultry, and is located in the historic Gansevoort meatpacking meatpacking or meat-processing, wholesale business of buying and slaughtering animals and then processing and distributing their carcasses to retailers. The livestock industry is among the largest in the world. district in lower Manhattan, NY. Operations include packing, processing, labeling and distribution of products. The company's diversified customer base includes in-home food service businesses, retailers, hotels, restaurants, and institutions, deli and catering operators and industry suppliers. Specific customers include Madison Square Garden Current arenas in the National Hockey League Western Conference Eastern Conference , TGI TGI Tribunal de Grande Instance TGI Target Group Index TGI Thank God It's Friday (US restaurant chain) TGI Tracheal Gas Insufflation TGI Tumor Growth Inhibition TGI Trato Gastrointestinal (Portugese) Friday's (owned by Carlson Restaurants Worldwide, Inc. with more than $2 Billion in system-wide sales), Sloan Kettering Hospital, and the Hilton Group (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :HLTGY). The company also provides portion controlled meats, custom meat cutting, and private labeling. Please visit the Company's website at: www.diamondranchfoods.com. 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. Forward-Looking Statements Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of 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. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks. |
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