Baby Gourmet Announces Management, Board Changes, and a $1.75 Million Equity Financing
(firmenpresse) - EDMONTON, AB -- (Marketwire) -- 10/01/12 -- Baby Gourmet Foods Inc. ("Baby Gourmet" or the "Company") is pleased to announce that it has entered into a $1.75 million financing arrangement with an investor group comprised of Avrio Capital Inc. (through Avrio Ventures Limited Partnership II), Scott Inglis and Sean Durfy (the "Financing"), expected to close on or about October 2, 2012. As part of the Financing, Scott Inglis, Glen Wilson and Sean Durfy have been appointed to the Baby Gourmet Board of Directors, replacing Bruce Johnson, Ingrid Hamburger and Greg Santora who have chosen to step down at this time.
As a condition of the Financing, Sean Durfy will be appointed the Executive Chairman and interim CEO of the Company. Durfy is a proven and successful senior executive known for his strategic direction and leadership abilities. Formerly as the President and CEO of West Jet, and the President of Enmax Energy Corporation, Durfy has guided successful and growing companies through important phases of their development.
Baby Gourmet is entering an exciting phase in its evolution, having started three years ago under the guidance of founders and sisters Jennifer Broe and Jill Vos, the Company has become a leading provider of natural, organic, healthy and tasty baby food in the Canadian marketplace. Baby Gourmet's products are available in Canada where approximately 80% of the baby food is sold, including Walmart, Loblaws (Superstore), Safeway, and Save-On Foods to name a few.
Over the course of the next year, Baby Gourmet intends to expand its product line in Canada, adding 15 new products including launching Kids Gourmet. With Kids Gourmet, school-age children will have a brand of their own when it comes to healthy, organic snacks. Squoosh™ is to be the first product launched under the Kids Gourmet™ brand extension. This organic fruit and veggie snack is expected to be widely available on the grocers' shelves and without competition. Baby Gourmet expects to be extending its product launch in the U.S. market with Winn Dixie and Harris Teeter.
Baby Gourmet has accepted the resignation of Bruce Johnson as Chairman and CEO of the Company. After three years of helping build the company's successful presence in the Canadian baby food market, he has chosen to step down to pursue other interests. The Company thanks him for his leadership and guidance during this important start-up phase.
Baby Gourmet also wishes to thank its employees, investors, past and present directors, retailers, and most importantly, its customers for the support given in helping the Company achieve such great success so quickly. The Company will strive to maintain its unwavering commitment to providing great tasting, healthy organic foods for babies and children in their most important developing years.
For further information please contact:
Jen Broe
President, Baby Gourmet Foods Inc.
403-614-9821
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Datum: 01.10.2012 - 06:00 Uhr
Sprache: Deutsch
News-ID 1155773
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