TORONTO, ONTARIO--(Marketwired - March 28, 2014) - BLVD Holdings Inc. ("the Company") (OTCQB:BLVO) - Today John G. Simmonds, Chairman and CEO of BLVD Holdings Inc., is pleased to announce the acquisition of Goudas Food Products and Investments Ltd.
From modest beginnings in 1967, Goudas Foods has grown to be a leading Canadian supplier of ethnic and international food products with more than 600 brands and specialties in the Chinese, South Asian, Caribbean, Filipino and other ethnic market segments.
"This gives us a secure foothold in a growth market which is strategically key to our long term success," said Simmonds. "Goudas has built a successful operation with reliable brands and good market penetration. We see numerous growth opportunities including Western Canada and the United States."
Goudas Foods will continue to be managed by its well-known founder, Spyros (Peter) Goudas including training and guidance. Mr. Goudas has extensive experience in the industry and many successes serving ethnic markets and increasing sales to new and existing customers. The acquisition gives Goudas Foods access to capital to expand inventories and grow the business. Revenue for Goudas Foods is projected to double by 2016.
Mr. Goudas created each of his products to be of the highest quality. He has written extensively on multicultural foods and immigration and is noted for his philanthropy.
The agreement leverages Goudas Foods' excellent reputation and breadth of expertise in the industry with BLVD Holdings' extensive resources for expansion in the fast growing ethnic marketplace. The goal is to become a leading ethnic food company.
About BLVD Holdings Inc.
BLVD Holdings Inc., (BLVO) is a publicly traded company which is now focused on acquiring profitable businesses for expansion and development.
John G. Simmonds began his career with AC Simmonds and Sons, now in its 96th year. He co-founded the largest Canadian golf course operation and has successfully grown companies and built effective teams. Simmonds has served as chairman and board director of several public companies.
Note: This press release contains "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. BLVD Holdings Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in BLVD Holdings Inc. SEC filings. BLVD Holdings Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with BLVD Holdings Inc.'s business, please refer to the risks and uncertainties detailed from time to time in BLVD Holdings Inc.'s SEC filings.
This release does not constitute an offer for sale of securities.