01.11.2006 15:30:00
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Hot Stuff Foods(R) Adds Lettieri's(R) to Team
Hot Stuff Foods, LLC is proud to announce the acquisition of Lettieri’s, Inc., a manufacturer of ready-made food products. The acquisition is being funded by Hot Stuff management, Lettieri’s management and Allied Capital Corporation (NYSE:ALD). "The Lettieri’s transaction solidifies Hot Stuff’s leadership position within the ”on-the-go” food category and establishes an even greater daypart dominance for our brand,” said Des Hague, Chairman. President and CEO of Hot Stuff Foods®. Furthermore, Hague stated, "The addition of Lettieri’s significantly increases our market reach and presence within the c-store channel by adding established menu items and broadening our distribution channels.” The addition of Lettieri’s will extend Hot Stuff’s reach to over 40,000 additional locations that will now have access to the combined resources of both companies including over 500 products and numerous food programs and formats. "We are very excited not only with what Lettieri’s brings to Hot Stuff’s franchise partners, but also with the new and innovative programs and products we can offer to Lettieri’s distributors and retailers,” stated Hague. Benefits to both Lettieri’s and Hot Stuff customers will be immediate and will include: For Lettieri’s customers, a "one-stop” menu offering including pizza, gourmet sandwiches, cinnamon rolls and broader ethnic and bread products. For Hot Stuff franchisees and licensees, an expanded menu with established breakfast, lunch and roller grill solutions. Hague emphasized that the acquisition is in line with Hot Stuff’s strategy of long-term growth. "By combining the strengths of two dynamic companies, Hot Stuff Foods® further solidifies the Company’s corporate philosophy of "Creating Value…Every Day!SM”. About Hot Stuff Foods, LLC: Headquartered in Sioux Falls, SD, Hot Stuff Foods, LLC franchises and/or licenses its branded food concepts in approximately 1,600 locations throughout the U.S., Canada, Europe and Asia. Hot Stuff manufactures and distributes a broad line of branded food product solutions including Hot Stuff Food On the Go®, SmashHits Deli™, Summit Subs®, Mac’s Market®, C-Street Bakery®, StoneWilly PIZZAHOUSE™, and GAME TIME SPORTS GRILL™. Hot Stuff Foods® can currently be found at www.hotstufffoods.com or by calling 1-877-841-1431 (International callers may reach Hot Stuff Foods® at 605.336.6961). About Lettieri’s: Headquartered in Shakopee, MN (outside Minneapolis), Lettieri’s produces branded and private label products, including breakfast sandwiches, enrobed hot dogs, stuffed baguettes, calzones, burgers and breadsticks, for c-store customers. Products are shipped frozen and ready-made and require only microwave, oven cooking or radiant heat (i.e. roller grill) to serve. Lettieri’s can be found at www.lettieris.com. To schedule an interview with Des Hague, contact Rachel Ambrose at 605.336.6961 ext. 7552, or Rachel.Ambrose@HotStuffFoods.com
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