Rosen's Diversified, American Foods Group announce merger

17/06/05 Rosen's Diversified, Inc. (RDI) and American Foods Group, Inc. have announced an agreement in principle to create a new national food company, "American Foods Group, LLC" by combining the operations of American Foods Group, Inc. and the Rosen Meat Group, Inc., a wholly owned RDI subsidiary.

The new company, to be headquartered in Alexandria, Minnesota, will consist of all of American Foods Group, Inc. current operations, along with RDI's meat processing companies. RDI's agricultural chemical distribution and fertilizer business units are not part of the agreement. The parties expect the merger to close by late August, following due diligence by the companies. Combined total sales for the two companies last year were over $1.5 billion. Terms of the agreement were not announced.

Tom Rosen, CEO of RDI, and Carl Kuehne, CEO and owner of American Foods Group, will serve as co-chairmen and co-chief executive officers of the new company, along with Greg Benedict, Chief Operating Officer and Robert Hovde, Chief Financial Officer.