The Fresh Juice Co. completes acquisition of Hansen's Juices
CLARK, N.J.--(BUSINESS WIRE)--Dec. 3, 1996--The Fresh Juice Co. Inc., (the "Company")(NASDAQ: FRSH) announced today that it has completed the acquisition of Hansen's Juices Inc. ("Hansen's") for approximately $150,000 cash, 617,669 shares of common stock, warrants to purchase 300,000 shares of the company's common stock at $3 per share and the assumption of Hansen's debt. The acquisition creates the first national producer and distributor of fresh squeezed juices.
Hansen's, headquartered in Azusa, Calif., is a leading west coast producer, marketer and distributor of over 30 fresh fruit juices and juice blends. Founded in 1935, Hansen's markets its juices under the Hansen's(R) and Creative Juices(TM) brand names throughout the western and mountain states, including California, Arizona, Nevada, New Mexico, Washington and Colorado.
The Fresh Juice Co. is a producer, distributor and marketer of the Just Pik't(R) family of fresh squeezed citrus and other juices, including the Just Pik't(R), Fresh Pik't(R), Florida Pik't(R) and Ultimate(R) brand names.
The Hansen's acquisition, which became effective on Dec. 2, 1996, was previously announced on Nov. 19, 1996 following the signing of the merger agreement dated Nov. 18, 1996. With the addition of Hansen's, The Fresh Juice Co. has proforma annual revenues of approximately $40 million. For the fiscal year ended June 30, 1996, Hansen's had in excess of $11 million in revenues.
CONTACT: The Fresh Juice Co., Inc.
Jeff Smith, 908/396-1112 |
