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SOURCE Romana Food Brands Corp
With Current Production Capabilities of 5,000 Pizzas Per Hour, the Company Moves to Bolster Market Position
MONTRÉAL, Dec. 7, 2017 /PRNewswire/ - Romana Food Brands Corp. (OTC Pink: RFBC), is pleased to announce that following the acquisition of Pasta Romana, the Board of Directors have successfully concluded the acquisition of the Montreal based pizza manufacturer, a significant player in the industry, whose newly renovated facility will soon be equipped to produce in the range of 5,000 thin crust pizzas per hour and 5,000 rising crust or stuffed crust pizzas per hour.
Boasting 60,000 square feet of manufacturing space, the facility has significant potential for on site future expansion. "This is a very significant milestone in our strategy to become a leader in the industry. We anticipate, that between our plans to grow the Pizza Romana brand, and the potential represented by private labelling, these delicious premium pizza products will become fundamental in our strategy for growth." stated Morrie Fogelbaum, CEO and Chairman of the Board.
Pizza Romana currently produces pizza for Imvescor Restaurant Group Inc., under the "Mike's" private label, and has established distribution through Colabor, Costco, Loblaws, Metro, Regitan, Sobey's, and Walmart.
The Company recently announced that its Board of Directors has elected a new Chairman and CEO, who comes with well over four decades of experience to drive the Company to its next level. The Board of Directors, as part of its strategy to formulate, produce and market its authentic Italian "Pasta Romana" selections and privately branded products, will be diligently collaborating and working closely with Mr. Fogelbaum to realize the Company's short-term goal of increasing efficiencies and focusing corporate efforts on significantly increasing consolidated sales within a relatively short period of time.
Romana Food Brands Corp. is committed to establishing itself as a leader in the thriving North American food manufacturing and processing industry.
According to Agriculture and Agri-Food Canada statistics, the food and beverage processing industry is the second largest manufacturing industry in Canada in terms of value of production with shipments worth $105.5 billion in 2014; it accounts for 17% of total manufacturing shipments and for 2% of the national Gross Domestic Product (GDP). It's the largest manufacturing employer and provides employment for 246,000 Canadians.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.
For more information visit the Company's website at: http://romanafoodbrands.com
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