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Microcap & Penny Stocks : AWLT wines and gourmet food - Italy Direct -- Ignore unavailable to you. Want to Upgrade?

To: Jack of All Trades who wrote (138)	12/2/1997 9:19:00 AM
From: Riley G	Read Replies (1) \| Respond to of 2595

More very good news! Riley G -------------------- biz.yahoo.com Tuesday December 2, 8:31 am Eastern Time Company Press Release Araldica Wineries, Ltd. Announces Acquisition Of Connecticut Specialty Foods Distributor NEW ROCHELLE, N.Y.--(BUSINESS WIRE)--Dec. 2, 1997--ARALDICA WINERIES, LTD. (NASD:BB-AWLT) announced today that it has contracted to acquire ''Gold Coast Traders, Inc.,'' headquartered in Bethel, Connecticut. Gold Coast, located at 3 Paul Street in Bethel, is a five year old distributor of gourmet foods and beverages, servicing customers in seven states, in New York and throughout New England. Louis Desantis, Vice President of ARALDICA WINERIES, LTD., stated that, ''The Company plans to merge the operations of Gold Coast with its ''Super City Gourmet'' and ''Mediterranean Diet'' subsidiaries (acquired earlier in 1997), which will allow its Specialty Foods Group to offer, combined, close to 1,000 different gourmet food and drink products to its customer base of some 2,000 companies.'' Edgar Arguello, also a Vice President of ARALDICA WINERIES, LTD., who will be installed as the new General Manager of Gold Coast, stated, ''The acquisition of Gold Coast adds another profitable operation to the Company, with annual sales volume approximately $1.1 million, and pre- tax profits of ten percent ($100,000+).'' Additional terms of the agreement were not disclosed. ARALDICA WINERIES LTD. is a public company engaged (since 1993) in the nationwide marketing of premium Italian wines, olive oils and specialty foods, and is known primarily for its proprietary ''Knights of Italy'' custom-labelled wine series, being sold via direct mail to the Company's data base of Italian-American consumers. All anticipations and expectations contained herein are forward looking statements that involve uncertainty and risk. Actual results could differ materially from those projected in such forward looking statements. This release and others are available on the L.G. Zangani Inc. Public Relations Website @ ''www.zangani.com.'' and ARALDICA WINERIES, LTD. Website @ ''www.araldica.com'' ----------------------------------------------------------------------------- Contact: Edgar Arguello, Vice President ARALDICA WINERIES Ph: 914/636-0500 Fax: 914/636-0518 E-mail: arladica@idsi.net or Adrian Madonia, Public Relations L.G. ZANGANI, INC. Ph: 908/788-9660 Fax: 908/788-4024 E-mail: zangani@aol.com