The Spice Depot, Inc.
PINK SHEETS : SDEO

The Spice Depot, Inc.

May 14, 2008 08:01 ET

The Spice Depot Appoints Former Walmart EVP John Ryan to its Board of Directors and to the Office of President Retail Development Worldwide

BURNABY, BRITISH COLUMBIA--(Marketwire - May 14, 2008) - The Spice Depot, Inc. (PINK SHEETS:SDEO) ("Spice Depot" or the "Company"), a provider of all-natural and organic spices and spice products, is extraordinarily pleased to announce the appointment of Mr. John Ryan, BA.Econ. to its Board of Directors and also to the office of President Retail Development Worldwide.

"The significance of the appointment of Mr. Ryan to our senior management team cannot be underestimated," says Spice Depot President Danny Ferraro. "John is a true giant in the retail sector, known worldwide for the pivotal role he played in developing Global Sourcing and Supplier Development for Walmart."

Global Sourcing is a Walmart-accredited procurement strategy aimed at leveraging global efficiencies in production; a supply chain convention that so profoundly changed the face of business that, Global Sourcing is now a recognized unit of study at universities and business schools around the world. "John is what I would call a gentleman retail machine. He is unstoppable and we so appreciate the professionalism, enthusiasm and what might be best described as 'efficiency' with which he is quietly but quickly opening new doors for us."

After a period of re-structuring and consolidation that involved major changes to Spice Depot's original business plan and management structure, the Company is gaining altitude quickly in both sales and profile.

Thanks to the combined vision and experience of the newly seated Ryan, CEO Adi Muljo, and Danny Ferraro, Spice Depot grinders will be on the shelves of thousands of major retail and grocery stores in the United States and Canada by the end of May, 2008, and in tens of thousands of major chain and retail outlets by the end of the third quarter. Quarterly sales, forecast at 75,000 units per month are on-track to exceed one million units per month by the end of 2008. And that's just for the grinders.

Given his background it follows that Mr. Ryan thinks very big - big numbers and big ideas. "As far as retail product distribution goes, it takes the same amount of effort to deliver good net profit results as great ones, so naturally I am attracted to opportunities whose fundamentals are ripe for greatness," says Mr. Ryan. "Spice Depot is on-trend, has top-drawer management and the type of supply chain efficiencies that allow for maximum profit for the Company and for shareholders. And we're just getting started."

About John Ryan

John Ryan is a veteran retailer with more than three decades experience. He began his career with Mercantile Stores where he stayed 20 years, ascending ultimately to the position of Executive Vice President responsible for merchandising and marketing.

Mr. Ryan joined Walmart in 1995 as Executive Vice President of International Merchandising and Marketing. He later assumed responsibility for Global Sourcing and Supplier development.

Over the course of Mr. Ryan's career he developed a network of global contacts. Proficiencies include international relationship management with heads of state and multinational companies, cross-cultural negotiations and global supply-chain management.

Mr. Ryan retired from Walmart in 2004 after nine years global sourcing 'everything from caviar to diamonds'. He is intimately familiar with commodities ranging from Brazilian coffee, Indian fabric, global bananas and European olives to Chilean salmon. Hard and soft goods like bed linens, cosmetics, shampoo, photo lab chemicals, paper and electronics and most items in between, fell within his purview as well.

Since leaving Walmart, Mr. Ryan consulted to a variety of retail and supply side companies and traveled the world, maintaining the contacts he garnered over the course of his career.

About the Company

The Spice Depot is a provider of all-natural and organic spices, spice products and herbs to the supermarket and grocery, retail, wholesale and food services industries. The Company is best known for their grinder-top glass bottles of premium spices and spice blends grown primarily by boutique farmers on the spice islands but also Southern Asia, Africa and North America and packaged on-site in the company's organic-certified processing and packaging facility in Indonesia. A relative newcomer to the spice industry, The Spice Depot remains singularly focused on the USD $10.8 billion global spice market.

Forward Looking Statements: This release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements". Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur.

Contact Information

  • The Spice Depot
    Danny Ferraro
    President
    1-800-960-2341
    Website: www.thespicedepot.com
    or
    Connect Capital
    Investor Relations
    1-888-730-4888