Military Resale Group Has Signed an Agreement with Sun-Dance Distributing, Inc.
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--July 2, 2003--Military Resale Group, Inc. (OTCBB-MYRG) announced today that this agreement is to distribute the Snak King(TM) line of products to the commissary system. This line includes the El Sabroso snack chips.
Paul Mayer, the President of Sun-Dance distributing stated this line is the hottest selling new snack line he has seen in his thirty years in this business. MYRG estimates that this line could add more than $250,000 in new revenue.
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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CONTACT: Military Resale Group, Inc., Colorado Springs
Ethan Hokit, 719/391-4564
Ehokit@militaryresalegroup.com |
