Hot Stuff Foods Adds Lettieri's To Team
Sioux Falls, SD & Shakopee, MN - Hot Stuff Foods, LLC announced the acquisition of Lettieri's, Inc., a manufacturer of ready-made food products. The acquisition is being funded by Hot Stuff management, Lettieri's management and Allied Capital Corporation.
"The Lettieri's transaction solidifies Hot Stuff's leadership position within the"on-the-go" food category and establishes even greater daypart dominance for our brand," said Des Hague, Chairman. President and CEO of Hot Stuff Foods®. Furthermore, Hague stated, "The addition of Lettieri's significantly increases our market reach and presence within the c-store channel by adding established menu items and broadening our distribution channels." "We are very excited not only with what Lettieri's brings to Hot Stuff's franchise partners, but also with the new and innovative programs and products we can offer to Lettieri's distributors and retailers," stated Hague.
The addition of Lettieri's will extend Hot Stuff's reach to over 40,000 additional locations that will now have access to the combined resources of both companies including over 500 products and numerous food programs and formats.
According to Hot Stuff Foods, benefits to both Lettieri's and Hot Stuff customers will be immediate and will include:
- For Lettieri's customers, a "one-stop" menu offering including pizza, gourmet sandwiches, cinnamon rolls and broader ethnic and bread products.
- For Hot Stuff franchisees and licensees, an expanded menu with established breakfast, lunch and roller grill solutions.
Hague emphasized that the acquisition is in line with Hot Stuff's strategy of long-term growth. "By combining the strengths of two dynamic companies, Hot Stuff Foods® further solidifies the Company's corporate philosophy of "Creating Value…Every Day!SM".
SOURCE: Hot Stuff Foods, LLC