NEWPORT BEACH, Calif., Dec. 21, 2007 (PRIME NEWSWIRE) -- International Food Products Group (OTCBB:IFDG) Chairman/CEO Mr. Richard Damion today announced that IFPG has signed a Letter of Commitment with Inka Grill, Inc., a Californian-based Peruvian food restaurant chain, for the exclusive marketing and distribution rights to an extensive line of the chain's most popular Peruvian gourmet meals, which will be sold through major retail, specialty and club stores nationwide. Mr. Damion also confirmed that IFPG has rescinded its offer for the acquisition of the cheese processing company, as previously announced, due to external financial market forces which seriously hindered the company's ability to finalize the capitalization for the transaction. Mr. Damion commented, "Over the past year we have invested heavily in time and resources to conclude the acquisition of this company. While we are disappointed at the outcome, we are however refocused and on making the Inka Grill(tm) retail product lines a resounding success." Damion added, "As Peruvian food gains international recognition as a rich and varied world class cuisine, we are delighted to have secured the exclusive rights for the retail sales. This is a unique food concept and a great opportunity for IFPG. Not only will we have an extensive and varied line of Peruvian food products to market and distribute, but also, Inka Grill(tm) is in the final stages of a launching the first major Peruvian restaurant franchise concept in the USA, a move that should provide substantial visibility as the brand enters the retail food category." Mr. Damion concluded, "The company is in ongoing negotiations with the Inka Grill and fully anticipates playing a major role in the franchise aspect of exceptional business opportunity as Peruvian food is about to take its rightful place as one of the Worlds finest emerging cuisines."
About International Food Products Group, Inc.: A public company trading on the OTCBB with the ticker symbol "IFDG." The Corporate Offices are at 895 Dove Street, 3rd Floor, Suite 365, Newport Beach, CA, 92660; http://www.goldenchoice.com. IFPG was the manufacturer and marketer of a variety of food products including Golden Choice 100% Colombian Roasted Coffees, Golden Choice Organic Harvest(tm) and Supreme Harvest(tm) lines of Frozen Fruits and Vegetables, and 100% Fresh Squeezed Pure Fruit Juices. Other products include "G.O.T. FRIES(r)," Just Popped(tm), and other fine domestic and imported food products.
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