NEWPORT BEACH, Calif., Dec. 20, 2006 (PRIME NEWSWIRE) -- International Food Products Group (OTCBB:IFDG) President, Mr. Ketan Mehta, today announced that as part of the restructuring, the company will offer for sale its fully developed snack lines which include G.O.T. FRIES(r), AW Shucks(r) and Just Popped(tm). Mr. Mehta stated that the two IFPG patent protected brands, G.O.T. FRIES(r) and AW Shucks(r), should offer considerable value to either manufacturers or distributors of snack foods. Commenting Mr. Mehta said, "Offering our portfolio of market tested brands is a particularly timely move for IFPG, as our two leading snacks items had significant success during their test phase, generating over $3 million in revenue with distribution through institutional, retail, club and vending machine outlets. IFPG's product development, design, packaging and marketing trials have been outstanding, and present a unique acquisition opportunity."
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The IFPG flagship snack G.O.T. FRIES(r) is a uniquely shaped extruded, crinkle-cut, french fry style snack, available in three highly popular flavors: Traditional, All American, and Southwestern. The brand's iconic cartoon character "Gotfrie," has also proven a favorite in market tests. Mehta concluded, "Typically development costs for new product formulas can run into tens of millions of dollars, before any packaging designs and market tests are undertaken. We now offer a number of unique tasting snack products with pre-existing demand, in a marketplace where product differentiation is minimal. This is a significant opportunity for IFPG to capitalize on a number of well defined, market ready brands, through the sale of this valuable portfolio."
About International Food Products Group, Inc.: IFPG is a public company trading on the OTCBB with the ticker symbol "IFDG." The Corporate Offices are at 895 Dove Street, 3rd Floor, Suite 365, Newport Beach, CA, 92660; http://www.goldenchoice.com. IFPG is the manufacturer and marketer of a variety of food products including Golden Choice 100% Colombian Roasted Coffees, Golden Choice Organic Harvest(tm) and Supreme Harvest(tm) lines of Frozen Fruits and Vegetables, and 100% Fresh Squeezed Pure Fruit Juices. Other products include "G.O.T. FRIES(r)," Just Popped(tm), and other fine domestic and imported food products.
Safe Harbor Disclaimer: Certain statements contained herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Such statements include, without limitation, statements regarding business and financing plans, business trends and future operating revenues and expenses. Although the Company believes that the expectations reflected in such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate and similar expressions, or which by their nature refer to future events. You should independently investigate and fully understand all risks before investing. These descriptions of the Company contain forward-looking statements that involve risk and uncertainties including, but not limited to, quarterly fluctuations and results, the management of growth, competition and other risks detailed in the company's SEC filings if any. Actual results may differ materially from such information set forth herein.
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