Hot Stuff Foods (www.hotstufffoods.com) has acquired Lettieri'sInc. (www.lettieris.com
), a manufacturer of ready-made food products. Financial terms of the deal were not disclosed, but the companies said the acquisition is being funded by Hot Stuff management, Lettieri's management and Allied Capital Corp. The addition of Lettieri's extends the company's reach to more than 40,000 additional convenience stores that will now have accessto the combined resources of both companies including 500products and numerous food programs and formats. Lettieri'sproducts range from a variety of breakfast sandwiches, stuffedbaguettes and authentic calzones, gourmet sandwiches includinga hamburger, cheeseburger and chicken filet sandwich and several sausage products enrobed in bread called "Wrap-Dogs!"
In November 2004, Lettieri's opened a state-of-the art production and R&D facility near its headquarters in Shakopee, Minn.The plant is nearly 60,000 square feet, specially equipped withan innovative development kitchen that brings innovative andhigh-quality food products to market. Lettieri's customers nowhave a "one-stop" menu offering that includes pizza, gourmetsandwiches, cinnamon rolls and broader ethnic and bread products. Hot Stuff franchisees and licensees will immediately enjoyan expanded menu with established breakfast, lunch and rollergrill solutions.
"The Lettieri's transaction solidifies Hot Stuff's leadershipposition within the ‘on-the-go' food category and establishes aneven greater daypart dominance for our brand," said Des Hague,chairman, president and CEO. "The addition of Lettieri's significantly increases our market reach and presence within thec-store channel by adding established menu items and broadening our distribution channels."
