USA: Host America Completes Acquisition
Host America (Nasdaq: CAFE - news) announced today that as of late Friday afternoon, July 28, 2000 management has completed its transaction with Lindley Food Service Corporation of New Haven, CT. The management of both firms has a long-standing business relationship and similar goals and is excited about the competitive synergies of the combined companies. Lindley management will remain in place and be a major player in our future expansion plans.Lindley Food Service Corporation is a privately held regional food management company specializing in providing full-service contract feeding programs to schools, senior citizens, day care centers, charitable organizations and other government funded agencies as well as the private sector. Annual revenues for Lindley were approximately $8.5 million for year ending March 31, 2000. Management has indicated that the acquisition was completed with a combination of bank financing, Host America Corporation cash and common stock.Geoffrey Ramsey, President of Host America Corporation, commented that, "The addition of Lindley to the Host family not only helps to diversify our services, but it also strengthens our management team and allows us to develop markets that were previously unavailable to both Host and Lindley as separate companies."For on-line investor relations' information go to:
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