Poore Brothers (NASDAQ:SNAK)
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The Inventure Group, Inc. (FKA Poore Brothers, Inc.)
(Nasdaq:SNAK), a manufacturer and marketer of innovative snack food
brands, today announced the appointment of Mr. Steve Weinberger to the
position of Senior Vice President, Chief Financial Officer, Treasurer
and Secretary, effective August 8, 2006.
Mr. Weinberger is a food industry veteran who brings the company
over 25 years of financial leadership experience in food
manufacturing, marketing, and distribution. Mr. Weinberger, who is a
Canadian citizen, has a demonstrated track record of success in
operations as well as finance, including his most recent role as CFO
and General Manager at Fiera Foods Co., a mid-sized frozen baked goods
manufacturer. From 1999 to 2003, Mr. Weinberger was Senior Vice
President of Finance at Canada Bread Company LTD, a public company
with annual revenues of more than $Cdn 1 billion. He spent twenty
years at Nabisco Canada, including three years as Senior Vice
President of Finance of the Christie Brown & Company division,
producer of brands such as Chips Ahoy! and Oreo.
Reporting to Chief Executive Officer Eric Kufel, Mr. Weinberger
will partner with the executive team to drive profitable revenue
growth. He will lead investor relations, SEC compliance, contracting
and acquisitions. His management responsibilities include information
technology, financial planning, accounting and business intelligence.
"We are thrilled to have Steve join the company as Chief Financial
Officer. He has deep industry experience from similar roles at other
food manufacturers, where he produced substantial bottom line
improvements. Steve will assist the company in maturing through its
next stage of growth with better visibility of profit opportunities,
process improvements, effective risk management, and a shareholder
value-oriented culture," said Mr. Eric Kufel, Chief Executive Officer.
"I'm very eager to get started with the Inventure Group. The
company has a particularly strong balance sheet, brands that are
poised for growth, available manufacturing capacity, an experienced
senior executive team and a highly ethical culture. These are the
ingredients for success, and I'm privileged to be part of the team,"
commented Mr. Weinberger, Chief Financial Officer.
About The Inventure Group, Inc.
With facilities in Indiana and Arizona, The Inventure Group 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), Clamato(R) and Boulder Canyon Natural Foods(TM). For
further information about The Inventure Group or this release, please
contact Eric J. Kufel, President and 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.