Here's on I got on Tril today, didn't know they were into food...
Subject:
Stockwatch US: TRIL
Date:
Mon, 30 Aug 1999 12:51:51 -0700
From:
newsout@canada-stockwatch.com
To:
slambang@calweb.com
(Applies to: RVFD TRIL)
Riviana Foods Acquires S&W Rice Business From Tri Valley Growers
HOUSTON, Aug 30, 1999 (BUSINESS WIRE) -- Riviana Foods Inc.
(NASDAQ/NMS:RVFD) announced today that it has reached an agreement with
Tri Valley Growers (TVG), parent of S&W Fine Foods of San Ramon,
California, to transfer certain assets of TVG's S&W(R) rice business to
Riviana.
Under the terms of the agreement, Riviana will license the S&W
trademark for use on retail packaged rice products, which Riviana will
market throughout the United States. Beginning August 30, 1999, Riviana
will be responsible for marketing, distributing, selling and promoting
the S&W retail packaged rice product line. Riviana has been the
exclusive supplier of rice to S&W for more than 40 years.
"S&W is the best selling branded long-grain rice in the Pacific
Northwest," said Riviana President and Chief Executive Officer Joseph
A. Hafner, Jr., "This transaction allows Riviana to strengthen its
focus on its core rice business and allows us to establish a strong
presence in the northwestern U.S."
Hafner noted that Riviana is currently the number one or number two
rice marketer in 19 of the top 20 U.S. rice markets.
TVG President and Chief Executive Officer Jeff Shaw commented, "I
cannot think of a better way to extend a 40-year relationship with
Riviana. This arrangement allows Tri Valley Growers to concentrate on
growing its core fruit, tomato and vegetable businesses by developing
new, innovative products, while Riviana utilizes its leading position
in rice to enhance and increase the S&W rice business. Customers and
consumers alike will benefit from this new opportunity to expand the
S&W line of fine products."
TVG is responsible for approximately half of the canned peaches, pears
and apricots, 20% of the canned olives and canned tomato products in
the U.S. Its principal brands include S&W Fine Foods(R), Tri Valley(R),
Oberti(R), Libby's(R), Monarch(R), Sun Vista(R), Redpack(R) and
Sacramento Tomato Juice(R).
Based in Houston, Texas, Riviana Foods, Inc. is one of the largest
processors, marketers and distributors of branded and private-label
rice products in the United States. Principal brands include
Mahatma(R), Carolina(R) and Success(R). The Company has additional food
operations in Central America and Europe.
Copyright (C) 1999 Business Wire. All rights reserved.
-0-
CONTACT: Tri Valley Growers
Steve Swasey, 925/327-6562
or
Riviana Foods, Inc.
E. Wayne Ray Jr., 713/529-3251
Elizabeth B. Woodard, 713/525-9502
WEB PAGE: businesswire.com
GEOGRAPHY: TEXAS CALIFORNIA
INDUSTRY CODE: FOODS/BEVERAGES
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page. |
