SOURCE: Italian Food & Beverage Corp.

Italian Food & Beverage Corp.

April 26, 2016 09:00 ET

IFBC Expands Its Presence in the UK

PLAINVIEW, NY--(Marketwired - April 26, 2016) - Italian Food & Beverage Corp. (OTC PINK: IFBC) -- The board of directors has approved expansion to include doing business in the UK.

Thanks to this new initiative, the company has received its first order to export beverages to London and has started negotiating the possible acquisition of a store location in London, which is already factoring $350,000 with a net of $114,000 a year. A new strategy model will be copied in Italy and Singapore in the very near term.

The IFBC UK project provides the opening of new outlets with the quality of food and beverage according to the history and quality of the Campagna Amica products in England, as well as the Italian stores' formats for pasta, pizza, ice-cream and so on. The IFBC mother company in the USA owns 70% of this new division, and the remaining 30% is owned by one of the company's founders, Leone Corazza.

Last year's gross revenue was just shy of the first goal of one million dollars, with an increase of sales from the previous year of 60%. The company anticipates a future revenue in the multimillions in 2016, between wine sales and the food stands. "The opening of our first location in London could open a new era for us. England here we come," stated Vice-President Andrea di Gregorio.

"This strategy of slowing expanding in the street food business has generated an increase in gross revenues of 60% in 2015, taking us very close to our first million dollar mark, and should constantly grow to our multimillion dollars goal," stated Vice-President Andrea Di Gregorio.

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About Italian Food & Beverage Corp.

Italian Food & Beverage Corp. establishes and develops brands committed to fulfill customer needs throughout the world while providing the finest experiences based on the Italian wine and food culture. IFBC operates as an importer, exporter, merchant, distributor and dealer of fine wine and food products. The Company and its subsidiaries have established wholesale distribution headquarters, offices and warehouses in several countries including Italy, Singapore, Austria, Hungary and the UK.

Forward Looking Statements

This release contains "forward-looking statements" and information provided by Italian Food & Beverage Corp. such as online, printed documents, publications or information available via its website. It may contain certain forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause the Company's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. These statements may also include plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. There can be no assurance that the negotiations being considered by the letter of intent will be completed.

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