Menu Foods Income Fund

Menu Foods Income Fund

August 14, 2007 13:13 ET

Menu Foods Income Fund

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2007) - Menu Foods Income Fund (TSX:MEW.UN) announced today that it has received verbal notice from a significant customer (previously identified as Menu Foods' largest customer) that it intends to terminate its agreement to purchase "loaf" products from Menu Foods effective October 1, 2007. That customer's purchases of those products accounted for approximately 10.8% of total volume in 2006. As previously disclosed, the customer had earlier given notice terminating its purchases of other products from Menu Foods.

Paul Henderson, President and Chief Executive Officer of Menu Foods, stated: "Menu Foods is disappointed in the reaction of this customer to the pet food recall. The intentional tainting of product inputs from a third party supplier in China was a fraudulent act that victimized many pet food manufacturers, customers and consumers. Menu Foods has acted decisively to address the issue, and has been working collaboratively with its customers and the entire pet food industry throughout the process. Unfortunately, this customer has now chosen to stop working with us."

Forward Looking Statements

This release includes certain forward-looking statements. Although Menu Foods believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These forward-looking statements are subject to a number of risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements.

Contact Information

  • For investor inquiries:
    Menu Foods GenPar Limited
    Mark Wiens
    Chief Financial Officer
    (905) 826-3870
    For media inquiries:
    Hill and Knowlton Canada
    Robert Merrick
    (416) 413-4602