Greenfield Farms' acquisition of Carmela's Pizzeria complete

Oct. 29, 2013

Colorado-based Greenfield Farms Food Inc. announced today that is has closed the acquisition transaction with Carmela's Pizzeria.

This closing completes the acquisition of 100 percent of the equity interests of Carmela's in a newly created, wholly owned operating subsidiary of Greenfield in exchange for shares of Greenfield stock and warrants.

Ronald Heineman has been appointed to serve as president and CEO of Greenfield and Henry Fong, following his resignation as president and CEO of Greenfield, has been appointed to serve as chief financial officer and corporate secretary of Greenfield.

"We are excited to finally have completed this transaction, and are ready to move forward expeditiously with our business plan," Heineman said. "We are confident in the Carmela's Pizza restaurant concept and the solid base we have built with our Dayton, Ohio-area locations. We believe this transaction is the springboard we need to grow the Carmela's brand and create shareholder value for the Greenfield stockholders."

Carmela's presently has three Dayton, Ohio, area locations offering New York-style pizza with a fourth slated to open within 30 days. Carmela's offers a full-service menu for dine in, carry out and delivery as well as pizza buffets in select stores.

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Topics: Financing and capital improvements , Operations Management

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