SOURCE: Where Food Comes From

Where Food Comes From

February 28, 2014 09:29 ET

Where Food Comes From® (d.b.a. IMI Global, Inc.) Announces Acquisition of Merck Animal Health Verification Business

Transaction Adds New Producer Customers With Focus on Dairy Beef Cattle Immediately Subject to USDA's Animal Disease Traceability (ADT) Requirements

CASTLE ROCK, CO--(Marketwired - Feb 28, 2014) - Where Food Comes From, Inc. (WFCF) (d.b.a. IMI Global, Inc.) (OTCQB: WFCF), the trusted resource for third party verification of food production practices, today announced it has agreed to acquire certain assets of Global Animal Management Inc., which is owned by Merck Animal Health. Financial terms of the transaction were not disclosed.

Under the agreement, IMI Global will assume responsibility for auditing cattle producers previously audited by Merck Animal Health, including a large number of dairies where newborn calves destined for interstate travel are immediately subject to the USDA's Animal Disease Traceability (ADT) program. There are more than four million dairy calves born annually in the United States. The transaction also gives IMI Global the opportunity to introduce its other value-add verification and certification services to these new customers.

"We are pleased to announce this transaction, which will extend our verification/certification services to additional beef and dairy customers," said John Saunders, chairman and CEO. "Our focus is on ensuring a smooth and seamless transition so that these producers will continue to receive high quality, cost-effective verification services."

In 2012, Where Food Comes From purchased a majority ownership of International Certification Services, Inc. (ICS), a leading organic and gluten-free certifier. In 2013, the Company also acquired Validus Certification, providing expert third-party certification in the pork and dairy industries. This acquisition serves to further solidify Where Food Comes From's reputation as the expert, trusted source for verification and certification for producers and suppliers.

"We are pleased with the pace of our M&A program and continue to evaluate opportunities is this area," Saunders added. "Our focus is to continue growing and diversifying our customer base while looking for ways to bundle verification/certification services to help our customers control costs."

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 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 and demand for, and impact and efficacy of, the Company's products and services on the marketplace, and plans to grow and diversify the Company's customer base 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:

    John Saunders
    Chief Executive Officer
    303-895-3002

    Leann Saunders
    President
    303-895-3002

    Jay Pfeiffer
    Pfeiffer High Investor Relations, Inc.
    303-393-7044