Firm changes name, targets natural foods
Oct 21, 2004 10:59 AM, from staff and wire reports
Zurich American Financial Corp is completing transactions to change its name to Compound Natural Foods Inc and engage exclusively in manufacturing and distributing natural foods and beverages.
The United States natural food and drinks market is expected to surpass $27.5 billion by 2007. More consumers are turning to natural products, with the number of natural food users estimated at 12% growth from 2004 to 2007.
Compound Natural Foods plans to grow through acquisitions. It is reviewing a number of companies to acquire that will fit into its distribution strategy targeted to natural foods specialty stores and supermarkets, as well as mainstream supermarkets. It is in the process of making its first acquisition and will release details when the acquisition is completed. Gerald R Newman, a mergers and acquisitions attorney, has been appointed president of Compound Natural Foods and will manage its acquisitions strategy.
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