Nascent Foodservice, Inc. (NCTW.OB) Signs Letter of Intent to Acquire One of the Mexico’s Largest Distributors
Nascent announced this afternoon that it has signed a letter of intent to acquire Grupo Sur Promociones de México S.A. de C.V (GSP). The distributor ships imported food and beverage products nationwide in Mexico with revenues exceeding $24 million for the year 2006. This acquisition would be the largest acquisition to date for the company as it reaches into all of Mexico. The companies plan to cross-pollinate their products and services in order to offer a variety of solutions to all their customers. The CEO of Nascent, Sandro Piancone, stated, “With GSP on our team we achieve yet another milestone in…