SOURCE: Where Food Comes From

Where Food Comes From

October 27, 2014 07:15 ET

Where Food Comes From, Inc. Acquires Sterling Solutions, LLC -- A Leading Third Party Verifier of Beef Claims in the Western U.S.

Fifth Acquisition Since 2012 Further Increases Company's Market Share While Expanding Solutions Portfolio and Geographic Footprint

CASTLE ROCK, CO--(Marketwired - Oct 27, 2014) - Where Food Comes From, Inc. (d.b.a. IMI Global, Inc.) (OTCQB: WFCF), the most trusted resource for third-party verification of food production practices, today announced it has acquired for cash and stock 100% of Sterling Solutions, LLC (www.sterlingtraceback.com), a leading provider of third-party verification services in the western United States. The acquisition is expected to be accretive to WFCF's earnings. Specific financial details of the transaction were not disclosed.

Based in Vale, OR, Sterling Solutions specializes in verification programs for the beef industry and has some of the leading calf ranch and feed yard customers in the western U.S., including a very strong presence in the Pacific Northwest. The Company's licenses and accreditations include Source and Age, Non-Hormone Treated Cattle (NHTC), Animal Welfare, Sterling Natural, High Quality Beef (HQB), Never Ever 3 (NE3), and other programs. The Company serves large dairies, calf ranches and cattle operations, and has more than 10 years of on-farm auditing experience.

"Sterling Solutions is a highly-regarded company with strong credentials in a variety of auditing standards," said John Saunders, chairman and CEO of Where Food Comes From. "This transaction ideally fits our M&A strategy of expanding our verification portfolio, increasing our geographic footprint and growing market share. We are excited about the addition of Sterling Solutions to the Where Food Comes From family, and look forward to working together toward our common goal of providing consumers with maximum transparency into the food supply chain."

"We are pleased to become part of the nation's largest and most comprehensive provider of verification solutions," said John Nalivka, chairman and co-founder of Sterling Solutions along with partner John Morse. "This transaction strengthens our ability to expand our presence in the Pacific Northwest as well as in Texas and California. Where Food Comes From shares our core principles with respect to innovation, integrity and superior customer service, and we are confident this will be a smooth transition for our customers and for our respective organizations."

Sterling Solutions will retain its name and operate as a wholly owned subsidiary of Where Food Comes From, Inc. Susan Morse, program manager for Sterling Solutions, will remain with the Company and continue to work closely with Sterling customers on an ongoing basis.

Since 2012 Where Food Comes From has acquired five independent verification companies and established itself as the largest provider of verification services in the United States, serving more than 10,000 customers in the food production supply chain. The Company's solutions portfolio -- which covers beef, pork, poultry, lamb, dairy, eggs and organic -- includes offerings ranging from source and age, non-hormone and humane handling to organic, non-GMO and gluten free.

About Where Food Comes From, Inc.
Where Food Comes From, Inc. (d.b.a. IMI Global) is America's trusted resource for third party verification of food production practices. The Company supports more than 10,000 farmers, ranchers, processors, retailers, distributors and restaurants with a wide variety of value-added services through its IMI Global, International Certification Services, and Validus Verification Services units. In addition, the Company's Where Food Comes From® retail and restaurant labeling program utilizes the verification of product attributes to connect consumers to the sources of the food they purchase through product labeling and web-based information sharing and education. Go to www.wherefoodcomesfrom.com for additional information.

CAUTIONARY STATEMENT
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Forward-looking statements are inherently uncertain, and actual events could differ materially from the Company's predictions. Important factors that could cause actual events to vary from predictions include those discussed in our SEC filings. Specifically, statements in this news release about industry leadership; expectations for continued growth; and the demand for, and impact and efficacy of, the Company's and its subsidiaries' products and services on the marketplace are forward-looking statements that are subject to a variety of factors, including availability of capital, personnel and other resources; competition; governmental regulation of the agricultural industry; the market for beef and other commodities; and other factors. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update its forward-looking statements to reflect new information or developments. For a more extensive discussion of the Company's business, please refer to the Company's SEC filings at www.sec.gov.

Contact Information

  • Contacts:

    Where Food Comes From, Inc.
    John Saunders
    Chief Executive Officer
    303-895-3002

    Leann Saunders
    President
    303-895-3002

    Investors
    Jay Pfeiffer
    Pfeiffer High Investor Relations, Inc.
    Investor Relations Counsel
    Where Food Comes From, Inc.
    303-393-7044

    Sterling Solutions, LLC
    Susan Morse
    Program Manager
    714-742-4801