Anyone see this yet:
Monday March 17 9:29 AM EDT
Saratoga Brands files registration statement for distribution of Mobile
Caterers unit to shareholders
LAKEWOOD, N.J.--(BUSINESS WIRE)--March 17, 1997-- Saratoga Brands Inc Monday said that it filed on Friday,
March 14, with the U.S. Securities and Exchange Commission a Form 10-SB for registration of the common stock of its
wholly owned Mobile Caterers Inc. subsidiary.
Upon effect of a registration statement, Saratoga Brands intends to distribute, as a dividend to its common shareholders, 100
percent of the common stock of Mobile Caterers. The company said it will distribute one share of Mobile Caterers for each
five shares of Saratoga Brands common stock and that Saratoga Brands stock is expected to trade with due bill attached until
the execution date.
After the distribution, there will be approximately 2.2 million common shares of Mobile Caterers issued and outstanding.
Mobile Caterers, formed in September 1996 by the integration of Saratoga Brands subsidiaries Deli King Inc. and JR's Delis
Inc., operates a 28,000-square-foot commissary facility in West Warwick, R.I., that prepares foods such as sandwiches,
soups, salads, pasta and baked goods.
The company provides these food products in addition to support services to its mobile-catering truck customers, serving
approximately 70 percent of the mobile caterers in the area encompassing Rhode Island, eastern Connecticut and southeastern
Massachusetts.
Mobile Caterers also sells the same food products to more than 800 convenience stores and retail outlets in Rhode Island,
Massachusetts and Connecticut.
Following the Mobile Caterers distribution, Saratoga Brands' principal operations will stem from its Cucina Classica Italiana
subsidiary, which imports and produces under license Italian specialty cheeses and other premium specialty foods, including
world-renowned brands from Egidio Galbani S.p.A.
In addition, the company expects to soon close its previously announced acquisition of Global Auto Group, a company
engaged in the retail auto business, including operation of new-car dealerships, previously owned vehicles, auto-parts
distribution and car rental.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements
that involve risks and uncertainties. The forward- looking statements in this release are made pursuant to the safe- harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially because of a variety of factors, including without limitation the presence of competitors with
broader product lines and greater financial resources; intellectual-property rights and litigation; needs for liquidity; and the other
risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
CONTACT: CommLink Associates Inc.
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