Oct. 4, 2010 (Business Wire) — Diamond Ranch Foods, Ltd. (OTC BB: DRFO), a foodservice distribution company specializing in meat, poultry and seafood processing, announced today it has begun the establishment of a re-distribution network within the tri-state area comprising New York, New Jersey and Connecticut for several of its branded products.
The manufacturer, fabricator, and first-line receiver of products, has begun shipments to four re-distributors this month. It plans to expand that network with additional re-distributors in the coming months.
“The significance of a re-distributor network,” said Diamond Ranch Foods CFO/COO Victor Petrone, “is that it will allow the company to acquire an expansive customer base, affording larger volumes of product sales and broader brand recognition. This in turn gives the Company more buying power with manufacturers. Re-distributors customarily receive limited credit terms, thus increasing cash flow and quality of the Company's receivables.
“The establishment of a re-distribution network allows Diamond Ranch Foods to create another revenue stream for the Company, while allowing it to focus on its manufacturing and custom-cutting operation where the gross profit margins are highest, as well as concentrating on new product development,” Mr. Petrone observed.
About Diamond Ranch Foods, Ltd.
Diamond Ranch Foods is a highly strategic food group distributor and processor of a broad selection of the finest quality meats, poultry, seafood, and foodservice items, including private label and custom-cuts, which can be prepared fresh, frozen or vacuum-packed. The Company operates a fleet of refrigerated trucks for delivery throughout the New York metropolitan area and ships coast to coast via common carrier.
The Company‘s USDA-inspected facility is located in the Hunts Point Cooperative Market (Bronx, New York), which is the largest food distribution center in the world, and boasts a highly-diversified customer base throughout the tri-state region, including; supermarket chains, restaurants, hotels, deli/catering operators, institutions and industry suppliers.
Please visit http://www.diamondranchfoods.com/ for additional information on the Company.
Safe Harbor Statement
Statements contained in this presentation that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. The forward-looking statements are made based on information available as of the date hereof, and the Company assumes no obligation to update such forward-looking statements. Forward-looking statements are sometimes identified by words such as “intends”, “anticipates”, “believes”, “expects”, and “hopes” and involve a number of risks and uncertainties that could cause the Company's actual results to differ materially from projected results. All parties are cautioned that such forward-looking statements involve risks and uncertainties that could cause the Company's actual results to differ materially from those in these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the Company's products and services and any other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
Diamond Ranch Foods, Ltd.
or
Investor Relations:
Tim Matula, 425-836-9035
IR@diamondranchfoods.com
Source: Business Wire (October 4, 2010 – 9:15 AM EDT)
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