Walmart, 7 Eleven and Safeway are among the new retailers that Hispanica will have access to in this Acquisition.
New York, NY -- (ReleaseWire) -- 07/11/2016 -- Hispanica International Delights of America, Inc. (OTC:HISP), a diversified food and beverage company in the Hispanic and ethnic food industry, announced today the closing of the acquisition of Energy Source Distribution, Inc. (ESD). ESD is a direct store beverage distributor in the San Jose, CA and Northern California Region. ESD generated nearly $3 million dollars in revenues in 2015 and is a strong player in the Energy drinks, Iced Teas, Lemonade, Water, and Craft Beers which have been the leading growth drivers for this successful distribution business. ESD is located in a 15,000 sq. ft. warehouse in Gilroy, CA allowing Hispanica Delights to have a centrally located hub in the important Northern California Region.
ESD distributes beverages in the counties of Santa Clara, Santa Cruz, Alameda, San Benito, and Monterey in which they service more than two thousand locations. ESD enjoys exclusive and coveted vendor numbers including top retailers in the US such as 7 Eleven, Safeway, Nob Hill, Lucky's, Walmart and others.
"This is the first acquisition of many we are currently evaluating. The speed in closing this acquisition just days after announcing the signing of our $7.5M credit facility is a testament to the swift execution of our business plan we have outlined to the investment community ." Stated Mr. Fernando Oswaldo Leonzo, Chairman and CEO of Hispanica International Delights of America, Inc.
"Gaining access to the largest retailers in the US such as Walmart and Safeway is a big asset to HISP and will give us an excellent recognition in the food and beverage distribution business" said Mr. John Romagosa, President of Hispanica
"We expect to add a significant increase to our top line revenues from this acquisition considering that ESD has generated several million dollars in revenues over the past couple of years and their growth rate continues in the Northern California Region." Said Mr. Robert Gunther, Chief Operating Officer of Hispanica.
About Hispanica International Delights of America, Inc.
Hispanic International Delights of America, Inc. (HISP) is a public company, founded in 2013. HISP is engaged in the distribution of proprietary, licensed and third party Hispanic and Ethnic food and beverages throughout the United States. HISP has already begun to distribute fruit juices, nectars, and milk based products and will begin to distribute teas, carbonated drinks, dry goods, preserves, frozen foods and bakery products. The brands distributed are under a proprietary basis (through distribution agreements and/or exclusive licensing arrangements). These brands emulate the flavors, tastes, and traditions which have been known for generations among the Hispanic and other ethnic groups which are now becoming part of the American mainstream diet. HISP is also committed in building long-term relationships with its consumers by offering superior, high quality products at the most competitive prices.
HISP is headquartered in New York State with distribution operations under way in the New York City Tri-State Region, the Washington, D.C. Metro Area, the Houston Metropolitan Area, and in Los Angeles and the Southern California Region.
For more information on Hispanica International Delights of America, Inc. please visit http://www.hispanicadelights.com/
SAFE HARBOR ACT
Forward-Looking Statements: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Hispanica International Delights of America, Inc. its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Hispanica International Delights of America, Inc.'s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Hispanica International Delights of America, Inc.'s filings with the Securities and Exchange Commission.
SOURCE: Hispanica International Delights of America, Inc.
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