Sepp's Gourmet Foods Ltd. (SGO-TSE) announces that a company controlled by a group headed by Dr. K. Peter Geib and comprised of certain members of management, directors and existing shareholders of the Company, has advised the Company's board of directors that it intends to make an offer (the "Offer") to acquire all of the outstanding common shares of the Company not owned by group members for $0.68 cash per share.