U-Swirl, Inc. Acquires Beverage and "Gummies" Company
Consumer Products Company to Service Existing Franchisees and
Retailers
HENDERSON, NV--(Marketwired - Mar 11, 2014) - U-Swirl, Inc.
(OTCQB: SWRL) today announced that its wholly-owned subsidiary,
Moxie Consumer Products, LLC, which was created for the purpose of
selling beverages, toppings, and other consumer products, has
acquired the business assets of Moxie USA, LLC. The
acquisition of all intellectual property and worldwide license
rights includes the rights associated with national, regional, and
local distributors that are currently purchasing beverage and candy
products for sale across more than 15 States. U-Swirl
purchased the Moxie USA, LLC assets for an earn-out of up to a
total of 250,000 shares of SWRL common stock over a two-year
period, based upon Earnings Before Interest, Taxes, Depreciation,
and Amortization (EBITDA) generated by the acquired assets.
U-Swirl, Inc. is majority-owned by Rocky Mountain Chocolate
Factory, Inc. (NASDAQ: RMCF).
"This acquisition provides an exceptional opportunity to add
revenue streams to our existing business lines," stated Ulderico
Conte, Chief Executive Officer of U-Swirl, Inc. "On a
system-wide basis, corporate stores and franchisees purchase
significant amounts of toppings and beverages, in addition to
frozen yogurt ingredients. We believe this acquisition will
enhance corporate revenue and earnings, while providing franchisees
greater purchasing efficiencies. Moxie Consumer Products, LLC
will provide us with a relatively low-risk entry into the consumer
products space, while enhancing our presence in schools, where the
Mr. Flav beverage product is very popular."
"We look forward to the introduction of Mr. Flav
beverage and Moxie toppings to the entire U-Swirl family of frozen
yogurt brands," continued Conte. "The self-serve frozen yogurt
market is extremely fragmented, and we believe the initial step in
consolidating an industry involves finding economies of scale by
offering superior products at a competitive price. U-Swirl
intends to play an important role in this process as we pursue both
organic growth and an aggressive acquisition program. In
addition to our recent acquisitions of frozen yogurt chains, we are
pursuing new store openings by franchisees under the U-Swirl,
CherryBerry and Fuzzy Peach brands, with 32 stores
currently in various stages of the development process."
"I am very excited to be part of the U-Swirl, Inc. portfolio of
brands," stated Rob Chang, newly appointed Chief Operating Officer
of Moxie Consumer Products, LLC. "The Company is rapidly
building a strong nationwide presence in the frozen dessert market,
and I look forward to providing franchisees with a variety of
superior product offerings in the near future. Moxie is
currently distributing beverage and gummies products in 15
states. School sales represent a significant part of our
beverage business, as Mr. Flav meets the more strict
criteria for 'allowable sugar' in products sold in educational
facilities. We intend to cross-promote yogurt brands and
beverages in multiple markets."
About U-Swirl, Inc.
U-Swirl, Inc. is an operator and franchisor of self-serve frozen
yogurt cafés that offer frozen yogurt in 20 non-fat and low-fat
flavors, including tart, traditional, and no-sugar-added options,
along with fresh sorbet. Approximately 70 toppings such as
fresh fruit, sauces, candies, and granola, are available to
customize each serving of yogurt to the customer's individual
taste.
In January 2013, the Company acquired frozen yogurt café assets,
franchise rights and certain other assets from Rocky Mountain
Chocolate Factory, Inc. (NASDAQ: RMCF) in exchange for a 60 percent
controlling ownership interest in the Company, certain warrants and
notes payable.
U-Swirl, Inc. is headquartered in Henderson, Nevada, and its
common stock trades on the OTCQB under the symbol "SWRL". As
of March 9, 2014, the Company and/or its franchisees and licensees
operated 286 self-serve frozen yogurt cafés in 38 states and 4
foreign countries. Additional information on U-Swirl, Inc. is
available on the Internet at www.u-swirl.com.
About Rocky Mountain Chocolate Factory, Inc.
Rocky Mountain Chocolate Factory, Inc., headquartered in
Durango, Colorado, is an international franchisor of gourmet retail
chocolate stores and a manufacturer of an extensive line of premium
chocolates and other confectionery products. The company's
common stock is listed on The Nasdaq Global Market under the symbol
"RMCF." Additional information is available on the Internet at
www.rmcf.com.
Rocky Mountain Chocolate Factory, Inc. also owns a majority
interest in U-Swirl, Inc.
Forward-Looking Statements
Certain statements in this press release are
"forward-looking statements". These statements involve risks
and uncertainties, and the Company undertakes no obligation to
update any forward-looking information. Risks and
uncertainties that could cause cash flows to decrease or actual
results to differ materially include, without limitation,
seasonality, consumer interest in the Company's products, general
economic conditions, consumer and retail trends, costs and
availability of raw materials, competition, market conditions, and
future business decisions, all of which are difficult or impossible
to predict accurately and many of which are beyond the Company's
control. Readers are referred to the Company's periodic
reports filed with the SEC, specifically the most recent reports
which identify important risk factors that could cause actual
results to differ from those contained in the forward-looking
statements. The information contained in this press release is
a statement of the Company's present intentions, beliefs or
expectations and is based upon, among other things, the existing
business environment, industry conditions, market conditions and
prices, the economy in general and the Company's
assumptions. The Company may change its intentions, beliefs or
expectations at any time and without notice, based upon any changes
in such factors, in its assumptions or otherwise, and it undertakes
no obligation to revise or update publicly any forward-looking
statements for any reason. The cautionary statements contained
or referred to in this press release should be considered in
connection with any subsequent written or oral forward-looking
statements that the Company or persons acting on its behalf may
issue.
For Further Information, Please Contact U-Swirl, Inc. (702)
586-8700 or via email at Email Contact
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