Poore Brothers (NASDAQ:SNAK)
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Poore Brothers, Inc. (Nasdaq: SNAK), a manufacturer and
marketer of innovative snack food brands, today announced it will ask
shareholders to approve changing the Company's name to The Inventure
Group, Inc. at its annual meeting scheduled for May 23, 2006. The
change is designed to better reflect the Company's diverse holdings of
innovative consumer product ventures, including T.G.I. Friday's(R)
brand snack food and meat snack products, Poore Brothers(R) brand
snack food products, Boulder Canyon Natural Foods(TM) brand snack food
products, Cinnabon(R) brand cookie products, Bob's Texas Style(R)
brand snack food products, Tato Skins(R) brand snack food products,
Braids(R) brand snack food products as well as private label potato
chip manufacturing and snack food distribution operations in Arizona.
If shareholders approve the change, the Company's shares will continue
to be traded under the symbol SNAK.
Since an initial public offering in 1996, the Company has evolved
from a regional potato chip manufacturer and distributor to a national
marketer and manufacturer of innovative consumer products, with the
majority of the Company's growth occurring as a result of acquisitions
and new brands, particularly with licensed brand partners such as
T.G.I. Friday's(R). The Company intends to continue growing all facets
of its existing business as well as build innovative new ventures
while it continues to pursue its strategic goal of becoming a $200
million marketer of Intensely Different(TM) consumer brands.
"The Company believes the name change better represents the
diverse array of products we currently market as well as communicate
our vision of continuing to deliver rapid growth from exciting and
innovative new ventures. We are proud of our Poore Brothers legacy and
intend to celebrate the 20th anniversary of the brand this fall with a
variety of marketing activities and new products, but we also
recognize the need to have a corporate identity that reflects the
diversity of our product lines and our expectation for continued
growth from innovation and new ventures," commented Mr. Eric Kufel,
the Company's Chief Executive Officer.
About Poore Brothers, Inc.
With facilities in Indiana and Arizona, Poore Brothers is a
marketer and manufacturer of Intensely Different(TM) snack foods under
a variety of owned or licensed brand names, including T.G.I.
Friday's(R), Cinnabon(R), Tato Skins(R), Poore Brothers(R), Bob's
Texas Style(R), and Boulder Canyon Natural Foods(TM). For further
information about Poore Brothers or this release, please contact Eric
J. Kufel, Chief Executive Officer, at (623) 932-6255, or logon to
http://www.poorebrothers.com.
Statements contained in this press release that are not historical
facts are forward looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Because such
statements include risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that may cause actual results to differ from the
forward-looking statements contained in this press release and that
may affect the Company's prospects in general include, but are not
limited to, the potential need for additional financing,
acquisition-related risks, significant competition, customer
acceptance of new products, dependence upon major customers,
dependence upon existing and future license agreements, general risks
related to the food products industry, and such other factors as are
described in the Company's filings with the Securities and Exchange
Commission.