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Worldwide Food Services (WFSV) Begins Final Acquisition Phase

^{Published on 2010-06-07 04:11:16 - Market Wire}
 

BORDENTOWN, NJ--(Marketwire - June 7, 2010) - WORLDWIDE FOOD SERVICES, INC. (Worldwide Food Services) (Worldwide) (PINKSHEETS: [ WFSV ]) announced today that the Company has been reviewing many potential acquisition/joint venture partners during the past six months. These include national suppliers, distributors, and manufacturers which will create a fully-integrated company and build on its current foundation of customers, suppliers, and contacts.

The Board of Directors feels that Worldwide can control its own destiny by formally completing acquisitions or establishing joint ventures with existing businesses. The added benefit of a close tie-in to food sales and distribution allows both vertical and horizontal growth for the Company. The Board has strict guidelines for acquisitions and joint ventures including at least ten years of profitable operations, solid management, and a progressive business plan.

Due to the upcoming completion of these acquisitions, the Annual Shareholder Meeting has been postponed. The time and place of the meeting will be announced in the near future.

Worldwide Food Services, Inc. is 100% Debt-free. The Company owes no suppliers or manufacturers; inventories that are held have all been paid-in-full.

For further information about this release, contact Rich Kaiser, Investor Relations, [ YES INTERNATIONAL ], #800-631-8127 and/or [ www.wwfoodservices.com ].

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward-looking information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.