BUFFALO GROVE, Ill., Jan. 5, 2005 (PRIMEZONE) -- GFY Foods, Inc. (OTCBB:GFYO) announced today the company intends to diversify its product offerings by licensing food or beverage products from third parties. As part of its business strategy, the Company plans to offer the exclusively licensed food and beverage products at its existing locations, and is exploring the potential of marketing packaged goods via the Internet. GFY Foods is interested in either the licensing or the outright purchase of food or beverage products that are compatible with the healthy alternative fare offered at its current locations.
The Company believes there are a large number of entrepreneurs who have excellent products, but not the financial and or marketing resources to grow their businesses quickly. Combining their products with the marketing and distribution capabilities of GFY Foods would benefit both parties.
Ed Schwalb, CEO of GFY Foods said, "We have carefully weighed our options concerning the development of new food or beverage products and have determined that the best approach would be to partner with other firms who have products that we can resell. Our objective is to identify healthy and delicious products that will be well received by our customers and that correspond with our current direction. We already have been approached by several food and beverage companies regarding partnerships. At this time, we are reviewing their product lines and will base our decisions on quality, price and compatibility with our current line."
Mr. Schwalb continued, "We are open and flexible regarding the structure of any such arrangement with a third party. It could take the form of a joint venture, product acquisition or some type of a hybrid licensing agreement that is mutually beneficial. Food and beverage consumers are demanding, especially in regard to new products; therefore, we are looking for the best. Companies with such products are welcome to contact us either by phone or email."
About GFY Foods, Inc.
Founded in the spring of 2003 by Ed Schwalb, GFY Foods is currently operating three restaurant locations. The company believes in the importance of providing high quality foods at affordable prices that are healthy alternatives to food that is now being sold to the American public. For more information please contact Investor Relations at (973) 351-3868.
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.