April 15, 1996
Orlando, Florida
Galaxy Foods Company (Nasdaq: GALX) today announced its Retail Division continues to gain retail store presence of its branded products through further expansion of its distribution network nationwide.
Angelo S. Morini, Galaxy's Chairman and President, stated, "We continue to achieve our volume and profit goals and are extremely pleased to have added sixteen new retail customers since June 30, the end of our first quarter."
The Company announced increased retail distribution through several new accounts including White Rose, one of the largest distributors in the New York metropolitan area, supplying over 1,000 retail accounts such as Waldbaums, Kings, Bravo, C Town and Pioneer; Associated Grocers of Springfield, Missouri, supplying over 350 independent stores; Fleming Distributors of Miami with over 190 accounts and SWB Central of Chicago with over 100 accounts. Additionally, the Company reported it will be directly supplying its branded products to major retailers such as Safeway Stores (Baltimore region with over 126 stores) and Albertson's 87 stores located in Florida. Morini further stated, "These are just a few of the Company's most recent retail successes. Also, we continue to substantially increase sales in our food service and health food divisions. In fact, we fully expect sales for the Company's second quarter ending September 30 to significantly exceed Galaxy's total first quarter sales of $3.3 million." Galaxy Foods Company produces a complete line of healthy cheese and cheese related products for the retail, food service and industrial markets. Galaxy Foods is the inventor and originator of formägg, perfectly balanced nutritional products which are low in fat, have no cholesterol and no lactose and contain more vitamins and minerals than conventional cheese. Other brands names include Soyco, Soymage and Lite Bakery For more information, contact Rebecca Barksdale at 407-855-5500, extension 105.
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