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Article: Synergy Brands Subsidiary Acquires a Baking Mix Manufacturing Facility in Michigan.
- Article from:
- Business Wire
- Article date:
- May 22, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SYOSSET, N.Y. -- Synergy Brands Inc. (NASDAQ: SYBR):
Synergy Brands subsidiary, Quality Food Brands Inc. (QFB) acquired the assets of a baking mix facility in Michigan from Laurus Master Funds (Laurus) for $4.75 million in 9 non-recourse secured term notes. In addition QFB provided Laurus and LVBP Holdings the right to acquire a minority stake in QFB. The assets provide QFB with an operation to produce baking mix products that will supply existing customers of the Company. The Company has used this facility in the past to supply its customers and felt that at this time its baking business has grown to a level that requires direct manufacturing capabilities so that ...