NEW YORK, NY, Jan 30, 2015 (Marketwired via COMTEX) — Rising India, Inc. (OTC: RSII), a holding company focused in restaurant concepts and other ventures focused in meals and entertainment, announces today that it has entered official negotiations to acquire a food delivery company comprised of a consortium of premium brands configured to produce, source and deliver fresh, natural foods and specialty wines. Operations are in line with the Company’s commitment to educate its customer communities on cooking techniques, diet and embracing local variety.
“Last Quarter, we stated a goal to have impactful acquisition(s) and/or assets toward shareholder benefit in Q1 2015,” states Rising CEO Jim DiPrima. “We have identified a prime candidate and have reached terms toward issuance of an LOI in the coming days with finalization of the acquisition on target with our goals.”
Growing at a CAGR of 11.7% from 2006-2011, the organic food and beverages industry in North America is the fastest growing sector of the American food market. Outpacing the European market, North America has emerged as the largest market for organic food and beverages in the world in the last few years. As well, Sales of local food grew from about $1 billion in 2005 to nearly $7 billion in 2013, according to the U.S. Department of Agriculture.
“I’m thrilled to bring this consortium of brands to the Rising India portfolio,” states DiPrima. “The acquisition target is in a strong trending sector, in line with our overall business model and with potential for multiple near-term revenue streams toward what we hope to result in impactful shareholder growth.”
Rising India plans to detail the consortium of brands upon announcement of the LOI and/or finalization of the deal.
About Rising India, Inc.
Rising India, Inc. is a dynamic developer of restaurant concepts and other ventures focused in meals and entertainment driven by our mission to become a global leader in delivering exceptional dining and social experiences. Learn more at RisingIndiaUSA.com, or follow us on Social Media at: Facebook.com/RisingIndiaUSA or Twitter.com/RisingIndiaUSA.
Forward-Looking Statement Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company’s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
CONTACT: INVESTOR RELATIONS IR@RISINGINDIAUSA.COM