Military Resale Adds Another Major Brand To Its Supplier Network; Mrs. Smith's Bakeries Frozen Pies To Be Distributed To Military Market By Military Resale Group, Inc.
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--June 12, 2003--Military Resale Group, Inc. (OTCBB:MYRG) announced today that certain consumer products distributed by Mrs. Smith's Bakeries have been added to its supplier network.
Mrs. Smith's Bakeries is a major marketer and manufacturer of branded consumer products, principally frozen pies.
Mrs. Smith's Bakeries holds true to a 100-year-old tradition of Dutch pie baking that began a century ago. Today, millions of delighted customers now enjoy the flavor and special goodness of Mrs. Smith's pies and cobblers throughout the United States. Further information on Mrs. Smith's can be found at mrssmiths.com.
Commenting on this exciting new product offering, Ethan Hokit, President of Military Resale Group, said, "We are proud to begin offering Mrs. Smith's quality product line to the large military market. This world-class brand is just one of many we expect to be adding in the weeks and months ahead." Hokit has over 25 years of experience servicing the military markets.
Military's Resale Group's annual sales for the year ended December 31, 2002 were more than $6.3 million, reflecting a nine-fold increase from $750,000 since its formation in 1997. Sales for the three months ended March 31, 2003 were more than $1.7 million, reflected an increase of approximately 24%, compared to the three months ended March 31, 2002.
Military Resale Group's existing product offerings, include Tyson Fresh Chicken, Toms Potatoes Chips, Jimmy Dean Sausage, Rayovac Batteries, Bush Beans, Hillshire Farm and Kahn's product groups by Sara Lee Foods-USA, a line of infant and feminine products offered by Playtex Products, Inc., Malt-O-Meal and L'Eggs, among others. Military Resale Group is a regional distributor of grocery and household items specializing in distribution to the military market. It distributes a wide variety of items, including fresh and frozen meat and poultry, seafood, frozen foods, canned and dry goods, beverages, dairy products, paper goods and cleaning and other supplies. Its operations are currently directed to servicing the commissary at each of six military installations located in Colorado, Wyoming and South Dakota, including the Air Force Academy located in Colorado Springs, Colorado. Military Resale Group is approved by the Department of Defense to contract with military commissaries and exchanges.
Military commissaries are large supermarket-type stores operated by DeCA to provide grocery items for sale to authorized patrons at the lowest practicable prices in facilities designed and operated under standards similar to those in commercial food stores. As of May 2002, there were 281 commissaries worldwide, of which 176 were located in the Continental U.S. and 105 were located overseas. Commissaries are authorized by law to sell goods only to authorized patrons, which include the approximately 1.4 million active duty U.S. military personnel, their dependents and certain authorized reservists and retirees. As of May 2002, these authorized patrons totaled approximately 13.7 million individuals. Annual worldwide commissary sales totaled more than $5 billion in the year ended September 30, 2001.
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Some of the statements contained in this press release discuss future expectations, projections of sales, results of operations, financial conditions or licensee production or state other "forward-looking" information (as defined in Section 21E of the Securities Exchange Act of 1934). Such information can be identified by the use of "may," "will," "should," "expect," " anticipate," "estimate," "continue," or other similar words. These statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contemplated by the statements. When considering such forward-looking statements, the reader should keep in mind these risk factors and their possible implications. Because the Company's common stock is considered a "penny stock" as defined by the regulations of the Securities and Exchange Commission, the safe harbor for forward-looking statements does not apply to statements by the Company.
The Company believes that the information contained in its press release was accurate as of its date of publication. The Company disclaims any obligation to update information it has released. Certain pages of this release may appear on a Web site which contains links or frames to sites operated by third parties. The Company assumes no responsibility for the accuracy or completeness of information on such third-party sites.
CONTACT: Military Resale Group, Inc., Colorado Springs
Ethan Hokit, 719/391-4564
E-mail: Ehokit@militaryresalegroup.com |
