Get Articles Daily from StraightStocks - Enter Email Address


  • National Debt Clock


Nascent Wine Company Inc (NCTW.OB) to Sell Palermo Italian Foods LLC

Source: http://Blog.QualityStocks.net/?p=10555
Posted on Tuesday, June 10th, 2008 | In Current Market News, OTCBB Markets, Small & Micro Cap, Stocks to Watch
Contributed by: QualityStocks (http://QualityStocks.net) -

Nascent Wine Company, Inc. (OTCBB: NCTW), DBA Nascent Foodservice, Inc., announced today that the company has signed a letter of intent to sell the Italian food importer and distributor division, Palermo Italian Foods, LLC. The Miami, Florida-based Palermo Italian Foods is being purchased by a group of investors and the current president and director Victor Petrone of Nascent Foodservice.

Sandro Piancone, CEO of Nascent, stated, “The sale of the Palermo Italian Foods improves the company’s financial position and enables us to focus and streamline the organization on our higher margin businesses. While we continue to believe that the value of the Palermo Foods business is significant, we believe it is in the best interest of our stakeholders to focus the organization on opportunities within our core competency of food distribution in Mexico.”

Piancone went on to say that he was glad that Victor Petrone was purchasing the business after serving as Nascent Wine Company president for 2 years. Piancone also remarked, how he thought Petrone was well qualified to keep the business moving forward.

Nascent is intending on growing the business by acquiring more profitable and larger distributors. The company is currently servicing large companies like Wal-Mart, Costco, 7-Eleven and many more. Some products distributed by the company are products manufactured by Nestle, General Mills, Bonafont Water and many more. Nascent has almost a quarter of a million sales points currently in Mexico and United States.

Let us hear your thoughts below:

Last 5 posts by QualityStocks





About QualityStocks (http://QualityStocks.net)

Our name, QualityStocks, emphasizes our commitment to connect subscribers with companies that have huge potential to succeed in the short and long-term future. We believe strong management and vision for the future are crucial for any company to be successful. Timing is everything and we help investors succeed by providing an objective, broad-based view of the SmallCap markets on a daily basis.

Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net

Leave a Reply

Name

Email (kept private)

Website









No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.