FORT WORTH, TX – March 22nd, 2007 – LAKEPORT, Calif., Mar. 22, 2007 -- Star Brands of Austin, Texas, has acquired Private Harvest and plans to double the company’s sales of gourmet spreads, oils, dips and sauces over the next three years, the company announced today.
Private Harvest, based in Lakeport, will continue to be managed independently by Bonnie and Kurt Frese, who founded the company in 1991, said Bobby McGee, chief executive officer of Star Brands. Bonnie Frese is president and responsible for sales and new product development. Kurt Frese is handling sales support and customer service.
Financial terms of the sale, which was finalized Feb. 28, were not disclosed.
Private Harvest was attractive to Star Brands, McGee said, because of the company’s dedication to producing innovative premium products. “Everything it produces is best-in-class and has strong appeal to food enthusiasts who see the value of purchasing premium gourmet goods,” he said. “We see continued growth in the entire gourmet category and have an aggressive plan to increase our market share, which will double our sales in three years.”
McGee said that growth will be fueled by a strong marketing and branding program, expanded distribution and continued focus on new product development.
“Star Brands offers the depth of financial and managerial resources we needed to truly capitalize on the national brand we have developed over the past 16 years,” according to Bonnie Frese, president of Private Harvest. “It is great to be able to concentrate on increasing our distribution and developing more new products.”
“Bonnie is the quintessential entrepreneur,” McGee said. “She is a gifted product innovator, who consistently creates exquisite and delicious offerings that she enthusiastically brings to market. It is our intent to continue to support that entrepreneurial spirit.”
In addition to Private Harvest, Star Brands owns Jardine Foods, a Texas- based producer of gourmet salsas, barbecue sauces and dips, which was founded in 1977.
About Private Harvest:
Private Harvest produces premium sauces, dips, dressings, spreads, and bread and cheese toppers, along with a variety of condiments for the gourmet table. Products are available nationally through fine gift shops and specialty food retailers, such as Wegmans, Harry and David and Boudin Bakery as well as online at www.PrivateHarvest.com or by calling 707-263-0694. The company is located at 2617 S. Main St., Lakeport, Calif., 95453.
This press release contains forward-looking statements. The statements regarding expected results of U.S. Growth Funds Corporation are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional or national economic conditions, or changes in the conditions of the industries in which U.S. Growth Funds Corporation has made investments.
|
