AMCON Announces Election of William R. Hoppner as President of The Healthy Edge and Possible Spin-Off of The Healthy Edge
07 Juin 2005 - 12:00AM
Business Wire
AMCON Distributing Company (AMEX:DIT), an Omaha, NE based consumer
products company, announced today that William R. Hoppner has been
elected President of The Healthy Edge, Inc., a wholly-owned
subsidiary of AMCON Distributing Company. Mr. Hoppner currently
serves as Senior Vice President of AMCON Distributing Company and
has been an AMCON Director since 1994. He was formerly engaged in
the private practice of law, for 10 years was Executive
Vice-President of International Transportation Specialists, Inc.,
an Omaha transportation firm and spent many years in public service
as Chief of Staff for J.J. Exon and then for Bob Kerry during their
terms as governor of Nebraska and later in the U.S. Senate. AMCON
also announced that it plans to place all of the common stock of
Hawaiian Natural Water Company, Inc., currently a direct
wholly-owned subsidiary, and all of the common stock of Trinity
Springs, Inc., currently 85% owned directly by AMCON, under The
Healthy Edge. Chamberlin's Natural Foods, Inc., and Health Food
Associates, Inc. (d/b/a Akin's Natural Foods Market) will continue
as wholly-owned subsidiaries of The Healthy Edge. William F.
Wright, Chairman of the Board of both AMCON and The Healthy Edge,
stated that "We are extremely pleased to place Bill Hoppner in
charge of our retail health food stores and continuing beverages
operations. In the future, we expect further announcements to
follow as to other officers of The Healthy Edge and as to its Board
of Directors." Wright also noted that "We are presently studying
the feasibility of The Healthy Edge remaining as a subsidiary of
AMCON or whether The Healthy Edge should be spun-off to our
shareholders and achieve its own identity, as a separate publicly
held company. We expect that decision to be made by our Board of
Directors in the next month or two." If the decision is made to
proceed with the spin-off, The Healthy Edge would be a reporting
company and an Information Statement would be distributed to AMCON
stockholders in connection with the spin-off. It is not expected
that the spin-off would require any vote of AMCON's stockholders.
There can be no assurance that the spin-off will take place. AMCON
is a leading wholesale distributor of consumer products including
beverages, candy, tobacco, groceries, food service, frozen and
chilled foods, and health and beauty care products with
distribution centers in Illinois, Missouri, Nebraska, North Dakota,
South Dakota and Wyoming. Chamberlin's Natural Foods, Inc. and
Health Food Associates, Inc., both wholly-owned subsidiaries of The
Healthy Edge, Inc., operate health and natural product retail
stores in central Florida (6), Kansas, Missouri, Nebraska and
Oklahoma (4). The retail stores operate under the names
Chamberlin's Market & Cafe and Akin's Natural Foods Market.
Hawaiian Natural Water Company, Inc. produces and sells natural
spring water under the Hawaiian Springs label in Hawaii and other
foreign markets and purified bottled water on the island of Oahu in
Hawaii. The natural spring water is bottled at the source on the
Big Island of Hawaii. Trinity Springs, Inc., which was acquired in
June 2004, produces and sells geothermal bottled water and a
natural mineral supplement under the Trinity label and recently
introduced a vitamin enhanced beverage product under the Trinity
Enhanced label. The water and mineral supplement are both bottled
at the base of the Trinity Mountains in Paradise, Idaho, one of the
world's deepest known sources. Trinity Springs also distributes
Hawaiian Springs on the U.S. mainland. This news release contains
forward looking statements that are subject to risks and
uncertainties and which reflect management's current beliefs and
estimates of future economic circumstances, industry conditions,
Company performance and financial results. A number of factors
could affect the future results of the Company and could cause
those results to differ materially from those expressed in the
Company's forward looking statements. Moreover, past financial
performance should not be considered a reliable indicator of future
performance. Accordingly, the Company claims the protection of the
safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 with respect to all such
forward-looking statements. Visit AMCON Distributing Company's web
site at: www.amcon.com
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