MARION, N.Y., Aug. 10 /PRNewswire-FirstCall/ -- Seneca Foods
Corporation (the "Company") (Nasdaq: SENEA, SENEB) announced
today that it has purchased the assets of Unilink, LLC from
Pennsylvania Food Group, LLC and has purchased Lebanon Valley Cold
Storage, LP and its subsidiary, Lebanon Valley Cold Storage, LLC,
from its partners. These businesses, based in Lebanon, Pennsylvania, primarily sell frozen
fruits and vegetables in the packaged private label retail and food
service channels.
"We believe that these operations are a complementary fit with
our frozen vegetable business which is primarily based in the
Midwest. It will give the Company an eastern distribution
point for private label retail and food service frozen vegetables,
with an experienced workforce, solid book of business and potential
for growth in the future," stated Kraig
Kayser, Seneca Foods' President and CEO. "On behalf of
the entire Seneca team, I welcome
them to the organization."
About Seneca Foods Corporation
Seneca Foods is one of the country's largest processors of
canned fruits and vegetables with manufacturing facilities located
throughout the United States. Its
products are sold under the Libby's, Aunt Nellie's Farm Kitchen,
Stokely's, READ, and Seneca labels
as well as through the private label and industrial markets. In
addition, under an alliance with General Mills Operations, LLC, a
successor to the Pillsbury Company and a subsidiary of General
Mills, Inc., Seneca produces
canned and frozen vegetables, which are sold by General Mills
Operations, LLC under the Green Giant label. Seneca's common stock is traded on the Nasdaq
Global Stock Market under the symbols "SENEA" and "SENEB".
Forward-Looking Statements
Statements that are not historical facts, including statements
about management's beliefs or expectations, are forward-looking
statements as defined in the Private Securities Litigation Reform
Act (PSLRA) of 1995. All forward-looking statements involve
risks, uncertainties and contingencies which may cause actual
results, performance, or achievements to differ materially from
anticipated results, performance, or achievements. Factors
that may cause actual results to differ materially from those in
the forward-looking statements include those set forth in our
filings with the SEC, including the disclosure under the heading
"Risk Factors" in the Company's Annual Report on Form 10-K.
There can be no assurance that the acquisition will close on
the expected schedule or that the acquisition will be consummated
at all. We are under no obligation to update or alter our
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Seneca Foods Corporation
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