USA: Leading brands to spin off Quick, Inc. subsidiary to shareholders
Leading Brands, Inc. (NASDAQ:LBIX), Canada's largest independent, fully-integrated food and beverage brand management company, today announced that it will spin off all of the 7,900,000 shares that it holds in Quick, Inc., to its shareholders, pro rata. The transaction will be structured in such a way as to not attract any adverse financial or tax consequences for the Company or its shareholders. In announcing the decision, Ralph McRae, Leading Brands' Chief Executive Officer, stated, "Quick has operated as a separate company for several months now. It has its own experienced management team and a solid business plan. Although it was initially conceived that Quick could operate as an extension of Leading Brands' business, it became readily apparent in recent months that it would be more appropriate for Quick to be owned and operated separately. I hope that our shareholders appreciate this gift of a substantial interest in a great new company."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Does Kraft Heinz want to swallow Unilever whole?
- Focus: Nestle CEO plan to balance sales, earnings
- Comment: Meal kits in US - don't believe the hype
- Is Mondelez's margin target hurting sales?
- Will Kellogg's DSD exit help it grow in US snacks?
- Nestle plans restructuring as 2016 profit misses
- Kraft Heinz pursuing Unilever in takeover move
- General Mills issues profit warning
- Kraft Heinz returns to organic growth, ups margins
- Kraft Heinz pulls Unilever bid