WILLISTON, Vt., Aug. 11 /PRNewswire-FirstCall/ -- Vermont Pure Holdings, Ltd. (AMEX:VPS) has acquired the assets of three Home and Office distributors in its core markets. The Company has purchased the assets of Cool Beans, Inc., a Hartford, CT based office coffee service company, selected accounts in Vermont from All Seasons, a company with vending operations throughout the Northeastern United States, and home and office delivery routes in the metropolitan Boston market from Polar Beverages. Polar will continue to operate its routes in Worcester, MA.
The combined annual revenue, consisting primarily of water and coffee sales, from the acquisitions is $870,000 and will add approximately 700 accounts to the Company's distribution base. Acquired assets consist primarily of customer lists.
"The acquisition of these businesses is consistent with our strategy to increase the presence of our dependable home and office refreshment service in our core markets. The new accounts will immediately add to our route density in the respective markets," said Peter Baker, President of Vermont Pure Holdings, Ltd. "Cash flow from operations, combined with our line of credit, have provided the financial resources for us to pursue this strategy," he concluded.
Vermont Pure Holdings, Ltd. is the largest independent and third largest Home and Office distributor of its kind in the United States. The Company bottles and distributes natural spring water under the Vermont Pure(R) trademark and purified with minerals added bottled water under the Crystal Rock(R) brand. It markets its bottled water brands, as well as other home and office refreshment products throughout New England, New York, and New Jersey. The Company is currently executing a growth strategy to expand its customer base through acquisition of smaller regional home and office bottled water and refreshment product distributors. Vermont Pure Holdings Ltd.'s common stock trades on the American Stock Exchange under the symbol: VPS.
Note: This press release contains forward looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those indicated by such forward looking statements, including the effects of the pending restatement of our consolidated financial statements, integration of acquisitions, ability to sustain and manage growth, changing market conditions, and other risks detailed in the company's filings with the Securities and Exchange Commission. DATASOURCE: Vermont Pure Holdings, Ltd.
CONTACT: Tim Fallon, CEO, or Peter Baker, President, +1-860-945-0661 ext. 3001, or Bruce MacDonald, CFO, +1-802-860-1126, or Eugene Malone, Corporate Investors Network, +1-888-377-9777, all of Vermont Pure Holdings, Ltd.
Web site: http://www.vermontpure.com/
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