Galaxy Nutritional Foods (AMEX:GXY), a leading producer of nutritious plant-based dairy alternatives for the retail and foodservice markets, today announced that in August it will start shipping 10 of its healthy Veggie(TM) brand dairy alternative products to major supermarket chains in Australia. These chains include Coles, Franklins, and Woolworths, the three largest chains, as well as some smaller chains, for a total of more than 1,100 stores. Sales for the first 18 months are expected to reach $1.8 million and are projected to grow significantly thereafter. The company also expects to rapidly increase the number of Veggie(TM) brand dairy alternatives being sold to the Australian market once the initial 10 products are in distribution.
Angelo S. Morini, Galaxy’s Chairman and President remarked, “Through the diligent efforts of John W. Jackson, Galaxy’s Vice President of Retail Sales, and Alison Walmsley, Galaxy’s Australian sales representative, we can now include the thriving continent of Australia to our impressive list of international customers. I believe Galaxy’s Veggie(TM) brand dairy alternatives are a natural fit for this market. The Australians are very health conscious people who primarily eat meat and dairy foods that are free of growth hormones and antiobiotics and vegetables that are organically grown. Galaxy’s phytonutrient-enriched (soy, rice and oats) Veggie(TM) brand dairy alternatives contain no dangerous growth hormones or antiobiotics, and are made with organic ingredients. They are also saturated fat free and lactose free and have more calcium, vitamins and other minerals than dairy products derived solely from animal protein.
“It is also interesting to note,” Morini concluded, “that, according to the latest World Health Organization rankings, the Australians are second in life expectancy, slightly behind the Japanese. On July 18, 2001, Galaxy announced its entrance into the Japanese mass market with our Veggie(TM) dairy alternatives and now, with Australia also following suit, we are proud to be supplying our products to the two healthiest cultures in the world. We look forward to a long and prosperous relationship with both markets.”
About Galaxy Nutritional Foods
Galaxy Nutritional Foods is the leading producer of health-promoting plant-based dairy and dairy-related alternatives for the retail and foodservice markets. These phytonutrient-enriched products, made from nature’s best grains — soy, rice and oats — are low and no fat (no saturated fat and no trans-fatty acids), have no cholesterol, no lactose, are growth hormone and antibiotic free and have more calcium, vitamins and minerals than conventional dairy products. Because they are made with plant proteins, they are more environmentally friendly and economically efficient than dairy products derived solely from animal proteins. Galaxy’s products are part of the nutritional or functional foods category, the fastest growing segment of the retail food market. Galaxy brand names include: Veggie(TM), Nature’s Alternative, Galaxy(TM), Soyco(TM), Soymage(TM), Wholesome Valley(TM), formagg®, Lite Bakery®, Veggie Cafe(TM) and Veggie Lite Bakery(TM). For more information, please visit Galaxy’s website at http://www.galaxyfoods.com.
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, or other factors which may cause actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements which speak only as of the date hereof. The company undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect unanticipated events or developments.
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