Simeus Foods eyes expansion.

Largest black-owned food manufacturer acquires North Carolina facility

Simeus Foods International (SFI), a leading food supplier for some of the country's popular restaurant chains, recently acquired a North Carolina meat processing firm. The purchase further expands the company, No. 15 on the BE INDUSTRIAL/ SERVICE 100 list with $105 million in sales.

SFI's acquisition of Fast Food Merchandisers, Inc. (FFM) of Forest City, North Carolina, which had 1998 projected sales of $70 million and a team of 350 employees, will extend the Texas-based concern to more than 750 workers and boost revenues to $175 million. The acquisition of the roast beef and pork processing assets of FFM includes a 170,000-square-foot production facility.

"This is really a step toward reaching our vision of being a $1 billion company in the next five years," says CEO Dumas M. Simeus. Prior to purchasing Portion-Trol Foods from Advantica in 1996, the 56-year-old was president and

CEO of TLC Beatrice International Holdings Inc. (No. 1 on the BE INDUSTRIAL/SERVICE 100 list).

SFI provides products to restaurant chains, including Denny's, Quincy's Steak House, Popeye's Chicken and T.G.I. Friday's. By purchasing the North Carolina facility, Simeus hopes to increase his stake in the competitive restaurant market along the East Coast.