CENTENNIAL, CO., Feb. 12, 2013 -- Greenfield Farms Food, Inc. ("Greenfield" or the "Company") (OTC/QB: GRAS) announced today that it has signed a definitive agreement to acquire 100% of the equity interest in Ohio-based Carmela's Pizzeria. Carmela's presently has three Dayton, Ohio area locations offering authentic New York style pizza. In addition, Carmela's offers a full service menu for Dine In, Carry out and Delivery as well as pizza buffets in select stores. Visit the Carmela's website at: www.carmelasohio.com
Details of the transaction call for all of the equity interests in Carmela's to be acquired by a newly created wholly-owned operating subsidiary of Greenfield in exchange for shares of Greenfield common stock and warrants.
"We believe we have created an exciting concept with our pizza segment including a scalable platform for both company owned and franchise operations nationally; and are looking forward to being part of a public company and the capital it can provide to help us grow our business model," stated Carmela's President, Ron Heineman .
"Americans love of pizza and there is a proven track record within this multi-billion dollar industry for offerings outside of the typical giant pizza delivery chains," stated Greenfield President , Henry Fong . "As we have stated before, it is our opinion that Carmela's has built a solid business model offering quality food at affordable prices that can be scaled-up quickly with sufficient capital resources."
Closing of this transaction is subject to, among other things, final due diligence by the parties, completion of audited financial statements, preparation of schedules to the definitive agreement, and any final board of director and/or stockholder approvals as necessary.
About Greenfield Farms Food, Inc.
The Company is a publicly-traded nominally capitalized producer and marketer of "grassfed" beef supplying a North Carolina based grocer on a very limited basis. The Company is currently seeking other business opportunities to both expand its business and seek greater capitalization in an effort to maximize shareholder value.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, they are based on management's current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
Greenfield Farms Food, Inc.
Thomas B. Olson, Public Relations
Ron Heineman, Chairman & CEO
SOURCE Greenfield Farms Food, Inc.