Hot Mama's Foods Announces New Chief Financial Officer
Sep 18th 2013 9:24AM
Updated Sep 18th 2013 9:26AM
Hot Mama's Foods Announces New Chief Financial Officer
SPRINGFIELD, Mass.--(BUSINESS WIRE)-- Hot Mama's Foods, Inc., (OTC:HOTF) a leading specialty food manufacturer, co-packer and private label resource for innovative organic, all-natural, and gourmet foods, which include fresh hummus, salsas, and pesto sold under both its own label as well as for other leading food retailers, is pleased to announce that William Kenealy has joined as Chief Financial Officer (CFO) effective August 19, 2013.
Bill has almost 20 years of experience in the consumer products industry, including 13 years as a Chief Financial Officer. From 2010 to 2013, Bill was Chief Financial Officer of Compact Industries, Inc., a leading manufacturer of dry food products with revenues in excess of $100 million. While there, he was responsible for all aspects of finance, procurement and information technology. Prior to that, Bill worked at Reserve Brands, Inc. as Senior Vice-President and CFO from 2007 to 2009. Reserve Brands was a venture capital-backed company which re-launched the former Anheuser-Busch EAGLE Snacks brand before being sold in 2009. From 2006 to 2007 he was a consultant/interim CFO for public and privately held operating companies and private equity firms. Mr. Kenealy obtained his BS in Finance and Economics from Illinois State University in 1985; his MBA in International Finance from Thunderbird School of Global Management in 1986; and became a Certified Public Accountant in 1990.
"We are very pleased to have attracted someone of Bill's caliber to our teamm," commented Matthew Morse, Chief Executive Officer. "Bill's experience with growing food companies and his mergers and acquisition experience will be invaluable to us as we look to continue growing the company over the next few years," concluded Mr. Morse.
ABOUT HOT MAMA'S FOODS
Hot Mama's Foods is a leading specialty food manufacturer, co-packer and private label resource for innovative organic, all-natural, and gourmet foods. The Company has proven expertise in developing and manufacturing top quality salsas, sauces, pesto, hummus, salads, dips, prepared deli salads, and many other gourmet foods. Hot Mama's Foods is one of the largest producers of hummus and salsa in the United States. The Company's products are USDA Certified, Certified Organic, and independently audited. Hot Mama's provides versatile, highly time-sensitive services to discerning food retailers, foodservice customers and food brokers nationwide. Hot Mama's Foods also develops, produces and sells fresh salsas, hummus and other fresh food products under its own label - Hot Mama's Foods. The Company has state-of-the-art production facilities in Springfield, MA and Elk Grove Village, IL.
Hot Mama's Foods was formed in Wendell, Massachusetts, in 1984 as a maker of a variety of fresh salsa recipes, distributed directly to small local retailers by its owner-operator. In 1991, the Company was purchased from its founder by Matthew Morse and maintained as a sole-proprietorship until its incorporation on January 29, 1999 under the name Lansal, Inc. under the laws of the Commonwealth of Massachusetts.
The Company has experienced rapid growth in recent years. Since 2008, revenue has increased slightly over 100%. In 2012 revenue increased 35.8% to $28.9 million. Growth has been driven by increased market penetration, additional product offerings, and, in part, by promotional and marketing efforts increasing awareness of the hummus category in particular. Additional information about the Company can be found at www.hotmamasfoods.com, and at the SEC's web site www.sec.gov.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Hot Mama's Foods
Matthew Morse, 413-737-6572
Strategic Universal Advisors, LLC
Stan Altschuler, 212-838-1510
KEYWORDS: United States North America Massachusetts
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