Heathrow Natural Food & Beverage, Inc. Signs Letter of Intent to Acquire Innovative Health Food Company
During the due diligence period, both parties have agreed to market and promote each others' product line through their existing distribution networks. Details of the acquisition will be announced upon closing.
21/05/09 Heathrow Natural Food & Beverage, Inc. is pleased to announce that the Company has signed a letter of intent to acquire 100 percent of the assets of Natural Harmony Foods, Inc. for a combination of cash and restricted and/or preferred stock. Both parties agreed to a thirty day due diligence period before the signing of a definitive agreement.
Natural Harmony Foods, Inc. is an innovative food company dedicated to producing healthy, flavorful, convenient foods that fit the lifestyles of individuals looking to make better, health conscious diet choices without sacrificing taste. Currently, the company's SoLean product line includes four breakfast sandwiches, which are sold through several grocery chains including Super Target and Whole Foods Market, amongst other grocery stores. During the due diligence period, both parties have agreed to market and promote each others' product line through their existing distribution networks. Details of the acquisition will be announced upon closing.
"We look forward to the possibility of joining forces with Heathrow Natural Food & Beverage. I feel that their product line is a nice complement to the SoLean products we are currently selling, as well as the products that are in development," stated Sam Dewar, CEO of Natural Harmony Foods, Inc.
"This is a tremendous complement to our current food and beverage line and gives us immediate presence in such high profile national food chains, such as Super Target, Whole Foods Market, Harris Teeter, Kings Super Markets and Shop Rite Supermarkets. Sam Dewar, CEO of Natural Harmony Foods, Inc., brings many years of extensive food and beverage industry experience to the table and will be instrumental in the future growth of Heathrow Natural Food & Beverage, Inc.," said Michael Pagnano, CEO of Heathrow Natural Food & Beverage, Inc. "We look forward to the progressive and prolonged growth this natural acquisition will bring the shareholders of HRNF."
