Vermont Pure Holdings, Ltd. Acquires Vermont Coffee Time
RANDOLPH, Vt.--(BUSINESS WIRE)--Jan. 7, 1998--Tim Fallon, President and CEO of Vermont Pure Holdings, Ltd. announced today that the company has acquired the assets of Vermont Coffee Time, Inc. of Williston, VT.
Vermont Coffee Time delivers Green Mountain Coffee and spring water to offices and homes throughout Vermont and parts of upstate New York and New Hampshire. Total sales for the company were $1.5 million in 1997.
''The addition of the Vermont Coffee Time business to our present distribution system in Vermont and the contiguous states will result in greater efficiency and allow us to provide better customer service,'' said Fallon. The Vermont Coffee Time acquisition represents the company's fifth transaction in a strategy to provide incremental growth through consolidation of Home and Office coffee service and bottled water distributors.
''We are extremely excited about acquiring this business from the owner, Amy Berger, who built an incredible business based on quality and customer service. Vermont Pure intends to build on this tradition and provide superior products and service to its customer base,'' said Fallon. Vermont Pure Springs, Inc. provides natural spring water and coffee to over 20,000 customers from Buffalo to Boston, MA.
Founded in 1990, Vermont Pure Holdings, Ltd. bottles its Vermont Pure Natural Spring Water through its subsidiary Vermont Pure Springs, Inc. from its natural springs in a state-of-the-art manufacturing facility in Randolph Center, Vermont. Vermont Pure's common stock trades on the Nasdaq Small Cap Market (SM) tier of the Nasdaq Stock Market (SM) under the symbol VPUR.
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Contact:
Vermont Pure
Tim Fallon, President/CEO or Bruce MacDonald, CFO
(802) 728-4014
or
Corp Investor's Network
Eugene Malone, (212) 967-1005 |
