TSX:V - POH
EDMONTON, April 15 /CNW/ - A Planet Organic Health Corporation division
just north of New York city took to heart the old expression of 'home is where
the hearth is' in launching a major expansion of its commercial kitchen.
The division, Mrs. Green's Natural Market, has 11 busy organic and
natural foods and products stores, which currently get all their fresh and
healthy deli foods from a 3,000 sq. ft. kitchen located in a basement under
one of the stores.
Its new commissary will be 10 times larger and will elevate the 40
employees from the basement to an ultra-modern, above-ground facility.
Mrs. Green's founder and Co-President, Harold Hochberger, said employees
can't wait for the above-ground commissary to open its doors having worked
from their comfortable but still subterranean facility for the last 15 years.
"They are absolutely happy with this decision," Mr. Hochberger said.
The current kitchen produces everything from organic pies, to complete,
all vegetarian pick up dinners, to organic smoothies - enough products to rack
up annual deli sales in all of the 11 stores of $3.5 million, or up to eight
per cent of total division revenues.
Deli sales are increasing by about 15% annually and Mr. Hochberger is
confident that already impressive sales growth can be topped when the new, $1
million commissary opens its doors in about six months.
Planet Organic Health Corp. (POH) has five divisions, plus another
planned acquisition of another chain of organic food stores in California.
POH Vice President of Corporate Development and CFO, Darren Krissie, said
the acquisition of Mrs. Green's last year was a critical step in corporate
growth plans.
Those plans have seen overall revenues in all of POH's divisions rise
from $1.6 million to projected revenues this fiscal year of over $100 million
- all in less than seven years.
"Mrs. Green's founders and co-presidents, Harold and his wife, June, have
very astutely built Mrs. Green's from the ground up. We are very excited to
see this major step forward occur under their gifted stewardship."
About Planet Organic Health Corp.
---------------------------------
Planet Organic Health Corp. (TSX-V: POH) is a natural products industry
company, comprising manufacturing, distribution and retail. Planet Organic is
listed on the TSX Venture Exchange as a Tier One company. Planet Organic
operates nine natural food supermarkets throughout Canada under the Planet
Organic Market banner and eleven natural food supermarkets in the U.S. under
the Mrs Green's Natural Markets banner. The Company also operates 48 natural
health outlets under the Sangster's Health Centre banner and eight natural
health outlets under the Healthy's and Planet Organic Living banners. Another
Planet Organic company, Trophic Canada, is the country's leading manufacturer
of natural supplements. The Company has a total of 65 stores throughout Canada
and eleven in the U.S. and has more than 650 employees.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information included herein is forward-looking. Forward-looking
statements include, without limitation, statements regarding the future
financial position, business strategy, budgets, projected costs, capital
expenditures, financial results, taxes and plans and objectives of or
involving Planet. Many of these statements can be identified by looking for
words such as "believe", "expects", "expected", "will", "intends", "projects",
"anticipates", "estimates", "continues", or similar words and include but are
not limited to, statements regarding the accretive effects of the acquisition
and the anticipated results and expected benefits of the acquisition upon
closing thereof. Planet Organic believes the expectations reflected in such
forward-looking statements are reasonable but no assurance can be given that
these expectations will prove to be correct and such forward-looking
statements should not be unduly relied upon. Forward-looking statements are
not guarantees of future performance and involve a number of risks and
uncertainties some of which are described in Planet Organic's continuous
disclosure documents. Such forward-looking statements necessarily involve
known and unknown risks and uncertainties and other factors, which may cause
Planet Organic's actual performance and financial results in future periods to
differ materially from any projections of future performance or results
expressed or implied by such forward-looking statements. Such factors include,
but are not limited to: general economic, market and business conditions;
industry capacity; competitive action by other companies; refining and
marketing margins; the ability of suppliers to meet commitments; actions by
governmental authorities including increases in taxes; changes in
environmental and other regulations; and other factors, many of which are
beyond the control of Planet Organic. Any forward-looking statements are made
as of the date hereof and Planet Organic does not undertake any obligation,
except as required under applicable law, to publicly update or revise such
statements to reflect new information, subsequent or otherwise.
For further information: Planet Organic Health Corp., Darren Krissie, VP
Corporate Development, CFO, (780) 719-4667; Bob Beaty, The Howard Group Inc.,
Toll Free: 1-888-221-0915, Info@howardgroupinc.com, www.howardgroupinc.com
