An interesting thing happened to Nascent Wine Co. Inc. (OTCBB:NCTW) (dba Nascent Foodservice) after participating in the 2008 ANTAD Food and Supermarket Tradeshow that was held March 4-7 of this year in Guadalajara, Mexico. Nascent Wine Company Inc., dba Nascent Foodservice, is the only nationwide distributor of imported products in Mexico, marketing and distributing over 2,000 national and proprietary brand food and non-food products. Nascent is currently servicing over 240,000 sales points, including supermarkets, convenience stores and foodservice accounts like Wal-Mart, Costco, Soriana, Comercial Mexicana, AM/PM, 7-ELEVEN, OXXO and many more.
ANTAD, which stands for “National Association of Supermarkets and Department Stores”, is Latin America’s largest food and supermarket show, held every year in Guadalajara, Mexico. The ANTAD Food Show offers U.S. and European exporters of food (including catering products, beverages, wines and spirits) the opportunity to exhibit their products to buyers for Mexican-based supermarkets and convenience stores. ANTAD 2008 marked the 25th anniversary of the ANTAD supermarket and retail exhibition, and was the biggest one so far. More than 1,100 exhibitors from over 25 countries presented their products to approximately 25,000 trade visitors.
Nascent occupied 6 booths alongside the Wal-Mart booths, and it was there that they showcased their full line of Mitsuki Oriental products, Bonet European items, CORA Italian products, a full line of beverages including Ferrarelle Water, Jolly Rancher Soda, Kabbalah Energy drink, Rockstar Energy Drink, Miller Beer, and - for the first time - introduced the full line of Nery’s Cheese products for national distribution.
The response to Nascent’s exhibit was fantastic, with hundreds of industry buyers showing keen interest and many placing first-time orders. What makes this such an amazing success is that, according to ANTAD, the retailers’ same-store sales are believed to have risen only 1.1 percent in 2007, compared with 4.3 percent in 2006, yet Nascent posted their best year ever. For the year ended December 31, 2007, revenue was expected to be approximately $37 to $40 million, or more than 8 times greater than the $4.7 million revenues generated in 2006.
Other significant milestones surpassed in 07 included the expanding of branded product lines by over 50%, to approximately 2,000 brand name items by December 31, 2007, compared to 1,300 brand name items on December 31, 2006. The company also increased their private label/ proprietary product line to more than 200 private label items, and added more than 6,800 new retail accounts, including Wal-Mart, Sam’s Club, Costco, HEB, Soriana, Gigante, Smart and Final. They also increased distribution centers to 18 from 4, expanded the transportation fleet approximately 500% to 35 trucks from 6, added 4,700 employees, and increased their long term exclusive distribution contracts by 100%.
2007 was a tremendous year for Nascent, and they’ve already started 2008 with a headfull of momentum and plans for more incredible growth.
Nascent Foodservice, Inc. (NCTW.OB) - Dynamic Growth Requires a Dynamic Financial Officer
On march 9th, 2008, Nascent Wine Co. Inc. (dba Nascent Foodservice, trading under the symbol NCTW) did the inevitable; it made effective the appointment of Peter White as the Chief Financial Officer of the company. Mr. White had been acting as Chief Financial Officer to the company since January, and Sandro Piancone, the Chief Executive Officer, decided it was time to make the move official.
This wasn’t unexpected. Nascent has been growing exponentially in the past 18 months, and with growth that fast and broad, having someone with Mr. White’s credentials at the financial helm is a requisite. Peter White brings over 40 years of senior executive experience to the table, with an extensive background in corporate finance, accounting and operations. White will now be responsible for providing the financial and strategic leadership the CEO requires to take Nascent to the next level of expansion.
Mr. White holds a B.S. degree in accounting from New York University, an MBA in finance from Columbia University and is a certified public accountant in the states of Pennsylvania and Massachusetts. Prior work experience includes such prestigious positions such as CFO and COO of Matrix - Systems Inc, a wireless software company for defense and commercial applications; Vice President of Global finance for 3D systems, a global developer of laser systems; Managing Director of Phoenix Equity Partners, an investing firm; and CFO of Global Spill Management, an environmental services company.
With Nascent’s recent acquisitions and determination to consolidate large portions of the fragmented Mexican food distribution industry, Mr. White will be a perfect addition to the management team. To quote Sandro Piancone, Chief Executive Officer of Nascent Foodservice, “We are very pleased and fortunate to have Pete join the executive management team in a permanent capacity. Pete brings significant senior level finance and accounting experience to Nascent and has been a tremendous resource since joining us in December 2007 as our acting Chief Financial Officer. We are pleased to have someone with Pete’s expertise and capabilities to provide the financial leadership in this dynamic stage of the Company’s growth cycle.”
Permanently filling this slot with someone of Mr. White’s caliber sends a message to the food industry that Nascent is serious about achieving its goals, and it will take on the personnel it needs to accomplish this. Developments such as this keep Nascent on the radar screens of investors worldwide.
Nascent Foodservice, Inc. (NCTW.OB) Uses Fold-in Acquisitions to Leave Footprint in Mexican Distribution Nascent Wine Co. Inc. (OTCBB: NCTW) engages in the distribution of food and non-food products, offering nearly everything you’d find in the pantry as well as table settings and utensils. The company’s customers include grocery stores, convenience stores, hotels and resorts, schools, cafeterias and restaurants in the Baja region of California and Mexico, and Miami, Fla. Nascent Wine dba Nascent Foodservice delivers more than 2,000 national proprietary-brand food and non-food products. The company has exclusive rights to distribute many big-name brands, including Miller Beer, throughout Baja Mexico. Nascent’s current growth strategies focus on acquisitions. Following what Nascent calls fold-in acquisitions, the company buys “mom and pop companies,” leaves the warehouse and equipment and uses its owners, sales and experience and “folds” them into the company. The company’s recent acquisition gives Nascent nine new distribution centers. The food service industry in Mexico is a $46 billion market. Nascent’s goal is to acquire the “mom and pop” companies that make up the majority of the industry, allowing the company to leave its footprint in a high-demand segment of the industry. Please see disclaimer on QualityStocks.net website: http://Disclaimer.QualityStocks.net
Nascent Foodservice, Inc. (NCTW.OB) Announces Fourth Quarter and Full Year 2007 Results Nascent Wine Co Inc. (dba Nascent Foodservice) reported its fourth quarter and full year results ended December 31, 2007, as well as 2008 growth opportunities. Highlights of 2007 included: the addition of 4,700 employees; the addition of more than 6,800 new retail accounts, including Wal-Mart, Sam’s Club, Costco, HEB, Soriana, Gigante, Smart and Final; an expanded private label / proprietary product line totaling more than 200 items; and the completion of three major acquisitions. Commenting on the results, Sandro Piancone, CEO of Nascent Foodservice, stated, “We entered 2007 with a goal of expanding our platform to market and distribute food and food related products throughout Mexico and based on our record fourth quarter and full year 2007 revenue growth and infrastructure expansion, we achieved this goal. During the full year of 2007, we expanded the portfolio of products we distribute (branded and private label/propriety items) by over 50%, increased our distribution centers from 4 to 21 and expanded our service footprint to cover all of Mexico’s major metropolitan areas, making Nascent the first and only nationwide distributor in Mexico.” “We are the first nationwide food distributor in Mexico, working with all the leading accounts like Wal-Mart, Costco, Soriana, Comercial Mexicana, AM/PM and 7-ELEVEN. Because of our position and expertise in the Mexican market we are able to attract leading brands such as Miller Beer, Nestle, Haagen-Dazs and General Mills that have entrusted us to distribute and market their products,” he continued. Looking forward to the New Year, he stated, “In 2008, we expect to improve gross and operating margins throughout the year by leveraging our infrastructure, continued organic growth in branded and private label products and potential strategic acquisitions. The foodservice industry in Mexico is highly fragmented with over 25,000 regional food distributors addressing the $46 billion foodservice market. Because of our first mover advantage, management team and distribution and marketing platform we have created, we are in a very strong position to exploit this tremendous growth opportunity for many years to come.” Net sales for Q4 2007 increased 500% to $17 million compared to Q4 2006, while gross profit for the year increased to $6.8 million, a near 1,000% increase over 2006. Gross margin increased to 16.1% in 2007 compared to the 14.9% reported for 2006. The Company is very excited about its long term growth prospects and believes that both its gross and operating margins will continue to improve. Please see disclaimer on QualityStocks.net website: http://Disclaimer.QualityStocks.net
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