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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Norms who wrote (8235)	6/14/1999 2:41:00 PM
From: kbert	Read Replies (1) \| Respond to of 108040

CRGI NEWS!!! Monday June 14, 12:33 pm Eastern Time Company Press Release SOURCE: Creative Gourmet Inc. Creative Gourmet Announces Its Acquisition Of A Major 14,000 Square-Foot Baking Facility FORT LAUDERDALE, Fla., June 14 /PRNewswire/ -- Creative Gourmet Inc. (OTC Bulletin Board: CRGI - news) announced today that it has closed on its acquisition of a 14,000 square-foot state-of-the-art baking facility. The facility is located in Boca Raton, Fla., still within the company's South Florida hub. The acquisition was finalized late last week. The baking facility has state-of-the-art baking equipment that includes ovens, refrigeration, freezing and packaging capabilities. The baking facility is home to Shelia G's Brownie Connection (1-800-BROWNIE) whose largest customer is Walt Disney World. In an exclusive agreement, Creative Gourmet will be manufacturing all of Shelia G's Brownie Connection products. This is the first acquisition of several potential candidates that the company deems necessary for its goal to become a significant force in the gourmet and specialty dessert industry. ''This is one of the most significant developments since the company's inception. It will enable us to increase production and sales substantially. One of the companies that had been in the facility prior to us taking it over was doing over twenty million dollars ($20,000,000) annually. CRGI is currently working with ex-management to revamp that company's sales and incorporate them into CRGI's business. We believe that by doing this, it will allow CRGI to reach levels of business that were done prior at the same facility. Announcement on this part of the acquisition will be made later. On the onset, we believe that we will at least triple our production,'' commented Sam Rubin, CFO of Creative Gourmet. CRGI is a manufacturer of premium specialty desserts for major hotel and restaurant chains. For further information please contact the company's investor relations at either Sound Capital Inc. (Richard Chancis) at 305-936-9450, or Continental Capital (Brendan Hopkins) at 407-682-2001. SOURCE: Creative Gourmet Inc.