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Worldwide Food Services (WFSV) Announces LOI to Acquire Rainbow Food Services

^{Published on 2010-07-15 06:15:44 - Market Wire}
 

BORDENTOWN, NJ--(Marketwire - July 15, 2010) - WORLDWIDE FOOD SERVICES, INC. (PINKSHEETS: [ WFSV ]) has entered into negotiations to acquire [ Rainbow Food Services (Rainbow Foods), ] a 35-year-old company that provides [ hot school lunch programs ] and mobile cafeterias and owns "Café on the Go."

Rainbow Foods also oversees all procurement of products, assembly, warehousing, packing, storage and distribution of the Emergency Food Kits for the [ Department of Defense ] and for [ FEMA ], named in the BOA for [ Rastelli Global ] and contracted exclusively to Worldwide Food Services, Inc.

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 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.