Opta Food Ingredients, Inc. (Nasdaq:OPTS), a leading developer and manufacturer of proprietary food ingredients, today announced it has retained KPMG Corporate Finance LLC as financial advisor to identify acquisition opportunities for the company. As previously stated, Opta plans to pursue acquisitions that complement its existing product portfolio, operations and customer base and are accretive to revenue and earnings.
“KPMG’s corporate finance group has a strong knowledge as well as extensive contacts within the consumer food, foodservice, and food ingredients industries,” said Arthur J. McEvily, president and chief executive officer. “Engaging KPMG as our financial advisor to identify potential acquisition opportunities accelerates Opta’s strategy of growing its business both internally and externally. We have demonstrated our ability to achieve significant and very positive results with our previous Stabilized Products and Canadian Harvest acquisitions. We are pleased to have KPMG representing us to help identify acquisition candidates that will add incremental revenue and profitability to Opta’s future results.”
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Opta Food Ingredients, Inc. is a leading innovator, manufacturer and marketer of proprietary food ingredients that improve the nutritional content, healthfulness, texture and taste of its customers’ food products. Opta’s food ingredients are used by more than 200 food companies, including 10 of the 15 largest U.S. consumer packaged food companies and three of the world’s largest quick service restaurant chains.
KPMG is a leading global network of professional service firms whose aim is to turn understanding of information, industries and business trends into value. With more than 100,000 people worldwide, KPMG member firms provide assurance, tax and legal, financial advisory and consulting services from more than 830 cities in 159 countries.
Note: This press release contains forward-looking statements based on management’s current expectations. Factors which could cause actual results to differ from such expectations are discussed in the Company’s periodic reports filed with the Securities and Exchange Commission (including Reports on form 10-K and form 10-Q) and include the size and timing of significant orders, as well as deferral of orders, over which the Company has no control; the extended product testing and launch cycles of the Company’s potential customers; the variation of the Company’s sales cycles from customer to customer; increased competition posed by food ingredient manufacturers; changes in pricing policies by the Company or its competitors; possible delays in securing production equipment and retrofitting production facilities and processes; the Company’s success in expanding its sales and marketing programs and its ability to gain increased market acceptance for its existing product lines; the Company’s ability to timely develop and introduce new products in its pipeline at acceptable costs; the potential for significant quarterly variations in the mix of sales among the company’s products; and general economic conditions.
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