Colgate Holmes, the Chairman of Glow Holdings stated, "This is a momentous occasion for Glow and its shareholders and we are thrilled to acquire the Cedar River Foods operations. This is our first step in executing our strategic plan, which is to merge with and/or acquire operating companies in key targeted business segments, to aggressively and strategically grow Glow. To achieve our goals as a company, and to facilitate growth and expand current business initiative, we intend to raise sufficient growth capital through debt and/or equity financing. Financing Glow's growth will be management's top priority for the near future."
RJ Selfridge, Chief Executive Officer of Glow Holdings, and President of Cedar River Inc., added, "This is indeed a major milestone for Cedar River. It is a rare opportunity to be able to work with Glow's visionary, seasoned management team to grow the Cedar River brand, explore new product opportunities, and leverage this synergy into additional sales pipelines. The legendary success, proven leadership, and innovative focus of the Glow team is a perfect fit for Cedar River."
In addition, RJ Selfridge, Cedarriver Inc. announced today that the company has begun working with the Sinclair Group in order to both better define its branding presence and marketing efforts. In addition to these efforts the Sinclair Group brings an ability to immediately open up markets for the Ultimate Pancake Sandwich product line. The immediate impact of the support will be the opening of the large California markets as well as the national presence and expertise that Sinclair brings to Cedar River.
Selfridge added, "It is great timing for Glow to enter into this strategic partnership