Diamond Ranch Foods Signs Letter of Intent to Acquire Executive Seafood, Inc.

April 29, 2010 16:49

Diamond Ranch Foods, Ltd. (OTC BB: DRFO) (Berlin WKN# A0RNQK), a meat and poultry processing and foodservice distribution company, is pleased to announce that the Company has executed a ‘Letter of Intent' to acquire the business operations and customer accounts of Executive Seafood, Inc., which the Company anticipates to close within 30 days, reports www.megafishnet.com with reference to Diamond Ranch Foods Ltd. 

Diamond Ranch Foods anticipates a uniquely seamless transition upon concluding the final non-dilutive acquisition terms that establish Executive Seafood as a wholly owned subsidiary of the Company.

Further, the management at Diamond Ranch Foods will look to quickly incorporate the new seafood category into the their existing meat and poultry business, as the Company plans to implement an immediate cross- selling focus on Executive Seafood's products to all Diamond Ranch Foods customers throughout New York, New Jersey and Connecticut.

Executive Seafood, Inc. is a premiere wholesaler of the finest, freshest seafood available, with a reputation for the highest quality seafood selections from an unsurpassed variety of fish offered daily.

As one of these select wholesalers, Executive Seafood has distinguished itself by serving many of the most upscale restaurants and country clubs in the tri-state area.

President and CEO for Diamond Ranch Foods, Mr. Louis Vucci, states: "The acquisition of Executive Seafood is certainly a top priority, so we will be working diligently to complete this transaction in a timely manner. Indeed, the successful addition of their seafood operations should markedly increase our annual revenues, and further serve to fortify our double-digit quarterly growth plans. We expect to announce the completion of this acquisition in the next 30 days."

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 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; supermarkets chains, restaurants, hotels, deli/catering operators, institutions and industry suppliers.

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