Tampa, FL - The Lionshare Group Inc announced that the company has acquired Florida Meat Packing Co. in Palatka, FL.
The purchase will operate as a wholly owned subsidiary known as Florida Meat Packing Inc. The company is involved in processing and packing all kinds of beef, pork and poultry products under private label for various clients and specializes in all natural native veal products.
The wholesale meat distribution company that Lionshare Group acquired earlier this year will be merged into this subsidiary as a part of the re-structuring previously announced. This will provide for complete focus on processing, packing and distribution for the existing customer base and position the company to supply the growth of Ragin' Ribs. The combined annual sales of this subsidiary after re-structure is projected to be four million during the upcoming fiscal year July 1, 1998 to June 30, 1999.
Jim Cheatham, founder & CEO, stated, "This is a part of the plans previously announced to acquire a processing facility that already has revenue producing customers and will supply the support to our stores."
RAGIN' RIBS is a totally new concept designed to serve the changing lifestyles of the consumer by offering quality foods like ribs, roast chicken, steaks, vegetables, salads, etc. in a quick service setting that features home delivery, take-out, and dine-in service offering a whole meal.
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