Current Report — Form 8-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 8-K Dated 06-11-01 8 39K
8: EX-22 Jointpressreleasedated061201 2 11K
2: EX-99.A4 Assestpurchaseagreementdated061101 36 124K
7: EX-99.A4 Assignment/Assumptionagreementdated061101 3 10K
3: EX-99.A4 Escrow/Securityagreementsdated061101 12 40K
5: EX-99.A4 License Agreementdated061101 8 27K
6: EX-99.A4 Noncompetitionagreementdated061101 8 30K
4: EX-99.A4 Transitionservicesagreementdated061101 13 36K
EX-22 — Jointpressreleasedated061201
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ACIRCA ACQUIRES MILLINA'S FINEST SAUCES
Second Largest Organic Pasta Sauce Joins Growing Portfolio
Arlington, VA - June 12, 2001 - Acirca, Inc., today announced it acquired the
nation's second largest brand of certified organic pasta sauce, Millina's
Finest(R), and Fruitti Di Bosco(R)from Spectrum Organic Products, Inc. (Nasdaq:
SPOP).
The addition of Frutti Di Bosco and Millina's Finest certified organic gourmet
pasta sauces gives Acirca the number two position in the U.S. organic pasta
sauce category with a 22% market share.
Commenting on the acquisition Acirca CEO Mark S. Rodriguez said, "The addition
of these two fine brands to our recently launched lines of Walnut Acres(R)
certified organic soup and salsa substantially improves Acirca's offering. A
more diversified product line allows the company to provide knowledgeable,
health conscious consumers with more high quality, great tasting certified
organic food and beverage products. Additionally, the improved scale helps the
company better serve our valuable distributors and retail customers and allows
us to realize synergies in our supply chain, production, distribution and
marketing."
Spectrum CEO Jethren P. Phillips stated, "We are pleased with the sale of the
Millina's business to Acirca. Acirca has the resources available to take the
business to a higher level than Spectrum could have accomplished in the near
term. Spectrum will continue to expand its strategic alliance with Acirca by
continuing to supply organic raw materials through our Organic Ingredients
division. More importantly, the transaction will provide Spectrum with new
working capital to invest in our rapidly growing core businesses of EFA
(essential fatty acid) food and supplement products under the brand names
Spectrum Naturals(R) and Spectrum Essentials(R)."
Terms of the transaction were not disclosed.
Organic food - food produced without the use of chemical fertilizers or
pesticides and processed without synthetic ingredients - is the fastest growing
specialty foods category in the United States. With an average annual growth
rate of 24% throughout the last decade, U.S. retail sales of organic food are
estimated to grow from $8 billion in 2000 to nearly $20 billion in 2005. Within
this market, sales of packaged organic food (as distinguished from organic
fruits and vegetables), already at $3.5 billion, are expected to expand even
faster, enjoying growth rates of 30% annually over the same period. Acirca is
well positioned to foster this growth and benefit from it.
About Acirca
------------
Acirca, which produces and markets Walnut Acres certified organic soups and
salsa, was formed on June 1, 2000, to develop premier certified organic brands.
The name Acirca is inspired by the phrase "a circle of life" and reflects the
company's commitment to the development of products that help consumers obtain
better health and are good for the environment. Acirca is a privately held
company owned collectively by company employees and independent investors.
About Spectrum
--------------
Spectrum Organic Products, Inc. is a leading manufacturer and marketer of
natural and organic foods, culinary oils, vinegar and condiments under the
Spectrum Naturals(R) label and essential fatty acids nutritional supplements
under the Spectrum Essentials(R) label. Spectrum is a publicly traded
corporation on the NASDAQ under the symbol SPOP. "Safe Harbor" Statements under
the Private Securities Act of 1995: The statements contained in this release,
which are not historical facts, are "forward-looking" statements that are
subject to risk and uncertainties that could cause actual results to differ
materially from those set forth or implied by the forward-looking statements.
These risks are described in Spectrum Organic Products, Inc. Securities and
Exchange Commission filings.
# # #
Media Contacts:
For Acirca, Inc.
Michael Neuwirth (212) 246-6252, mjneuwirth@aol.com
Beth Corwin (212) 229-0500, bcorwin@ptanaka.com
--------------------
For Spectrum Organic Products, Inc.
Tori Janaya, 707/778-8900 ext. 3316, torij@spectrumorganic.com
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Dates Referenced Herein
| Referenced-On Page |
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| This ‘8-K’ Filing | | Date | | First | | Last | | | Other Filings |
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| |  |
| Filed as of: | | 6/26/01 | | | | | | | None on these Dates |
| Filed on: | | 6/25/01 |
| | 6/12/01 | | 1 |
| For Period End: | | 6/11/01 |
| | 6/1/00 | | 1 |
| List all Filings |
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