| Intercorp Excelle, Inc. | |||
| Ticker: | REN | 1880 Ormont Drive | |
| Exchange: | NASDAQ-Small Cap Market | Toronto, CANAD M9L 2V4 | |
| Industry: | Manufacturing (SIC Code 2035) | 4167442124 | |
| Type of Shares: | Common Shares | Filing Date: | 7/7/97 | |
| U.S. Shares: | 1,000,000 | Offer Date: | 10/12/97 | |
| Non-U.S. Shares: | 0 | Filing Price: | $5.00 | |
| Primary Shares: | 1,000,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $5,000,000 | Selling: | ||
| Expenses: | - | Reallowance: | ||
| Shares Out After: | 4,075,000 |
| Manager | Tier | Phone |
| Sharpe Capital, Inc. | Lead Manager | (212) 791-5590 |
| Aegis Capital Corp. | Co-manager | (516) 872-1100 |
| Issuer's Law Firm: | Gersten, Savage, Kaplowitz & Curtin |
| Bank's Law Firm: | Singe Zamansky LLP |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 1/31/97 | 1/31/97 | ||||
| Revenue: | $10.46 | Assets: | $2.88 | ||
| Net Income: | $0.29 | Curr Assets: | $1.57 | ||
| EPS: | Liabilities: | $2.07 | |||
| Prior EPS: | Curr Liabilities: | $1.20 | |||
| Cash Flow/Oper: | $0.42 | Equity: | $0.81 | ||
| Cash Flow/Fin: | $0.00 | Cash: | $0.00 | ||
| Cash Flow/Inv: | -$0.27 | Working Cap: | $0.37 | ||
| Business Description |
| The company is in the business of developing, manufacturing, marketing, and distributing salad dressings, sauces, dips , marinades and mayonnaise. The company distributes a line of gourmet sald dressings to supermarkets, gourmet stores and specialty shops, primarily in Canada, under the name "Enee's Gourmet." Salad dressings, dips, sauces, marinades and mayonnaise are also distributed under the brand name "Excelle" and under private labels for both retail and food service establishments, inlcuding supermarkets, restaurants, hotels, hospitals, schools and other institutional cafeterias throughout Canada and the United States. The company markets over 200 products. Management believes, based on the number of grocery store chains and gourmet stores that carry the company's products, that its products are sold in over 1,500 retail outlets. Renee's has the largest market share of any refrigerated salad dressing in Canada according to a recent A.C. Nielsen report. |
| Business Plan |
| The company's strategy is to continue to capitalize on the significant brand name recognition of its Renee's line by increasing the amount of supermarkets carrying its products, increasing the amount of products carried by such stores and to penetrate other geographic markets including the United States. The company also intends to acquire or license other existing sauces and marinades products for marketing through its established distribution network. In addition, the company intends to continue to expand its food service distribution business by entering into agreements with large restaurant and hotel chains. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for improvements in its manufacturing capabilities, selling and marketing, the repayment of certain indebtedness, and for working capital and general corporate purposes including potential synergistic acquisitions. |