OWENSBORO, KY, March 1, 2017 /CNW/ - Specialty Foods Group, LLC (a successor of, among others, SFG Parent, Inc. and Specialty Foods Group, Inc.) ("SFG") announces the completion of its previously announced reorganization (the "Reorganization") which streamlined and simplified its capital structure and that of certain related companies. The Reorganization facilitated the distribution by SFG of an aggregate of US$55,000,000 to its stakeholders. Such distributions have been initiated and will follow to stakeholders in March.
The unitholders of Specialty Foods Group Income Fund (the "Fund") will receive a distribution of the moneys received by the Fund subject to a holdback of Cdn.$750,000 to cover anticipated Fund expenses and liabilities. The distribution per unit will be approximately Cdn.$0.886877.
ABOUT SPECIALTY FOODS GROUP, LLC
SFG is an independent producer and marketer of premium branded and private-label processed meat products in the United States. SFG sells a wide variety of products such as franks, hams, bacon, luncheon meats and delicatessen meats. These products are sold to a diverse customer base in the retail (e.g., supermarkets) and foodservice (e.g., restaurants) sectors. SFG sells products under a number of leading national and regional brands, such as Field, Kentucky Legend, Kentucky Gold, Fischer's, Mickelberry's and Scott Pete, as well as on a private-label basis.
This press release contains forward-looking information within the meaning of applicable securities laws that reflects the current expectations of management of SFG regarding the Reorganization. The words "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "aim", "endeavour", "project", "continue", "predict", "potential", or the negative of these terms or other similar expressions have been used to identify these forward-looking statements.
Forward-looking statements are based upon a number of assumptions and are subject to a number of known and unknown risks and uncertainties, many of which are beyond management's control, and that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those expected or estimated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Certain factor(s) could cause actual results to differ materially from those discussed in the forward looking information.
This forward-looking information represents management's views as of the date of this press release. While subsequent events and developments may cause such views to change, SFG does not intend to update this forward-looking information, except as required by applicable securities laws.
SOURCE Specialty Foods Income Group Fund