August 25, 1997
Orlando, FL
Contact: Susan Martin, ext. 107
GALAXY FOODS PIONEERS SUPERMARKET HEALTH MEGATRENDS DESIGNS KROGER’S NEW VEGETARIAN MARKETS
Galaxy Foods Company (NASDAQ: GALX) today announced the unveiling of Kroger’s new Vegetarian Market store within a store” concept designed by Galaxy Foods. The event took place August 20,1997, in Louisville, Kentucky. Kroger is launching its new Vegetarian Market in 40 of its stores and each market will feature 11 of Galaxy’s healthy cheese and dairy-related products.
Kroger requested Galaxy’s assistance in naming these new markets and designing the Market’s banner which will be featured in every Kroger Vegetarian Market. Kroger, the largest supermarket chain in the world with over 1300 units nationwide, is committed to quickly expanding the number of stores featuring the Vegetarian Markets. Frye’s Supermarkets, a 100 store Southwest supermarket chain owned by Kroger, also plans to add Vegetarian Markets in its produce sections. Presently, Galaxy products are sold in many other Kroger stores.
The Company also reported that it continues to gain distribution of its branded retail products in many supermarket chains throughout the country resulting in a continued improvement of the Company’s gross profit margins. Several of the Company’s higher margin healthy branded products, including form�gg� Veggie Slices, can now be purchased at many prestigious supermarket chains and independents throughout the country such as HEB, Albertson’s, Safemart, Safeway, A & P, Publix, Winn Dixie, Hannaford, Stop N Shop, ShopRite, Big Y, Big V, Ralph’s and Vons.
Recognizing that sales of non-fat and low-fat dairy products are growing dramatically, retailers like Kroger now realize the importance of products such as Galaxy’s,” said Angelo S. Morini, Galaxy’s Chairman, President & CEO. Many retailers are devoting space in their produce sections to showcase vegetarian products like Galaxy’s. The rising consumer demand for healthier products which taste great is continuing to drive our mainstream retail sales. Galaxy retail sales have increased 450% for fiscal year 1997, as compared to the fiscal year ended March 31, 1996,” Morini concluded.
Galaxy Foods Company produces a complete line of healthy cheese and dairy-related products for the retail, food service and industrial markets. Galaxy Foods is the inventor and originator of form�gg�, a new, healthier and better way to make cheese. Form�gg products are low or no fat, no saturated fat, have low or no cholesterol and no lactose and contain more vitamins and minerals than conventional cheese. Other brands' names include Soyco�, Soymage�, Veggie Slices�, Lite Bakery�, and Wholesome Valley�. For more information, contact Susan Martin at 407-855-5500, extension 107.
