GRILLiT Acquires Stake in Natural Organic Grass-Fed Beef Supplier
MIAMI, Florida, December 19, 2013 /PRNewswire/ --
THE COMPANY ENTERS INTO EXCLUSIVE SUPPLY DEAL WITH GAUCHO RANCH DISTRIBUTOR
GRILLiT, Inc. ("GRILLiT" or the "Company") (OTC: GRLT) today announced that it has acquired a 10% equity stake in Natura Foods, LLC, the exclusive distributor of "Gaucho Ranch" branded South American natural and organic grass-fed beef. Additionally, the Company entered into a mutually exclusive supply agreement with Natura Foods for the supply of Gaucho Ranch organic beef products for its corporate restaurant operations.
Natura Foods' Gaucho Ranch brand is dedicated to providing 100% natural and organic grass-fed beef free of antibiotics, hormones and grain from the South American Pampas of Uruguay. Gaucho Ranch cattle are fed only on vegetable proteins, without products or by-products of animal origin. The use of growth hormones is prohibited by law in Uruguay.
"We are thrilled to have the opportunity to partner with Natura Foods," said GRILLiT CEO, Ghazi Hajj. "Gaucho Ranch and GRILLiT share the same high standards of quality and health. We are excited for this partnership moving forward."
The supply agreement executed by the companies stipulates that GRILLiT shall purchase its beef exclusively from Natura Foods, and Natura Foods will supply the Gaucho Ranch brand beef only to GRILLiT restaurants in the fast casual dining restaurant sector. The Company plans to integrate the beef into its menu items over the next 30 days.
About Natura Foods and Gaucho Ranch
With growing concern with what we eat, where it comes from, how it affects the environment and our health, grass-fed beef has become the healthier alternative to corn and grain fed meat. Inspired by the Gaucho (South American Cowboy) Natura Foods is dedicated to providing 100% natural and organic grass fed beef free of antibiotics, hormones and grain from the South American Pampas of Uruguay.
GRILLiT (GRLT) is a growing Latin-Caribbean fusion restaurant concept that marries fast casual to nutritious and healthy food. The company opened its first location in Miami in 2011 and specializes in chef-inspired custom crafted rice bowls, pasta and wraps as well as salads. GRILLiT utilizes domestic growers and delivers healthy cuisine using only fresh proteins, such as never-frozen chicken and Angus beef. Restaurants offer an inviting and comfortable atmosphere with an open kitchen and contemporary, industrial design. For more information, visit http://www.grillitinc.com.
Forward Looking Statements:
Statements in this press release that are not purely historical facts, including statements regarding GRILLiT's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1996. Such statements consist of any statement other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "plan", "may", "expect", "anticipate", "intend", "estimate" or "continue" or the negative thereof or other variations thereof or comparable terminology. The reader is cautioned that all forward-looking statements are speculative, and there are certain risks and uncertainties that could cause actual events or results to differ from those referred to in such forward-looking statements. This disclosure highlights some of the important risks regarding our business. Specifically, the reader should not place undue reliance on statements regarding our interest in, and supply agreement with, Natura Foods. Additionally, there are number of other risk factors relating to our business more fully explained identified by us in our filings with the OTC Markets, which are available through http://www.otcmarkets.com.
INVESTOR RELATIONS CONTACT:
Robert L. Tucker
Director of Corporate Development
MEDIA & FRANCHISING INQUIRIES:
Sanderson & Associates
SOURCE GRILLiT, Inc.