OLD TAPPAN, NJ -- (Marketwired) -- 04/24/13 -- New Leaf Brands, Inc. (PINKSHEETS: NLEF), a diversified beverage holding company acquiring brands, distributors and co-packers, has purchased all of the outstanding common stock of Master Distributors, Inc. for $2,900,000 in cash and stock. Master Distributors, which operates as Beverage Network of Maryland, is a leading distributor of top quality beverage products in the Mid-Atlantic market, with projected 2013 sales of more than 550,000 cases totaling approximately $6.0 million in sales. Details of the acquisition will be available in New Leaf's forthcoming Form 8-K.
CEO David N. Fuselier said, "New Leaf is delighted to launch our distribution operations with this great acquisition. Beverage Network of Maryland has an extremely strong reach throughout one of America's largest metropolitan regions. Its distribution channels and accounts will help us greatly expand sales not only for New Leaf's own brand, but for brands that we partner with, or acquire, in the future."
Beverage Network of Maryland's Morris Stodard will remain with the company as president and also will manage New Leaf's distribution operations. One of the most experienced distribution managers in beverage and snack distribution in the U.S., Mr. Stodard has more than four decades in the industry. Before purchasing the company's predecessor in 1999, Mr. Stodard served in key roles at various major companies, including Director of Sales for Joseph Schlitz Brewery and Vice President of Sales for the Frito Lay division of PepsiCo.
"With the additional support and expertise that New Leaf and its team brings to the table, I am confident that we can expand our geographic area, increase our buying power and better serve our customers," said Mr. Stodard. "We are very excited about joining New Leaf and building a powerful beverage distribution network throughout the Northeast Corridor."
Beverage Network of Maryland is headquartered in Jessup, Maryland, strategically located between Baltimore and Washington, D.C. The company serves more than 2,000 accounts with eight sales representatives and nine delivery routes. It provides its customers, including Giant Food, the largest grocery chain in the Baltimore/Washington market, with such brands as Voss waters, Xyience Energy drinks, and Vernor's Ginger Ale brands as well as others. In addition, the company distributes for 20 suppliers of beverage products with more than 200 SKU's.
About New Leaf Brands, Inc.
New Leaf Brands, Inc. (PINKSHEETS: NLEF) is a diversified beverage holding company acquiring brands, distributors and co-packers in North America. For our customers, we develop and distribute high quality, great-tasting beverages in well-placed consumer markets. For our shareholders, we acquire companies that build, maintain and nourish shareholder value. Our corporate mission is to be the best small-cap beverage holding company in North America.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 10-Ks and 10-Qs on file with the Securities and Exchange Commission.
David N. Fuselier
Chief Executive Officer
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