Aug. 31, 2010 (Business Wire) — Tootie Pie Company, Inc. (OTCBB:TOOT) announced that Dawson Holdings, LP has taken a 15% equity stake in the Tootie Pie Company.
“This transaction is significant on many fronts,” said Don Merrill, President & CEO. “Not only are we getting the critical financing that we need at an important time in the life of the Company, but we are gaining the support of an outstanding group, known for their brand building and sales expertise.”
Terms of the transaction are available in the Company’s 8K, which was filed today with the U.S. Securities and Exchange Commission.
“We appreciate that a group of this caliber recognizes the value of what has been accomplished, as well as the opportunities that lie before us,” explained Merrill. “We look forward to working side by side with the Dawsons, as we take Tootie Pie Company to new markets and customers. This is a game changer for the Tootie Pie Company.”
“Tootie Pie exhibits a fanatical commitment to quality, and we recognize the value that the brand represents and are excited to be a part of the company’s growth plans,” said Berkley Dawson. “We see Tootie Pie Company as a natural fit to our current holdings.”
“We see our role as being supportive of current management, while we work together to open additional avenues of sales and distribution. We are here to help management take the Tootie Pie Company to the ‘next’ level,” said Vincent Dawson.
“We will also be looking for ways to expand and enhance the cash flow of Tootie Pie, Inc. through financial relationships that we have established over the years,” Jim Dawson concluded.
About Dawson Holdings, LP.
Brothers Berkley and Vincent Dawson created Dawson Holdings, LP, as a specific investment company for the purpose of identifying and investing in select opportunities in South Texas. The brothers have an established track record of success, having owned and operated the local Anheuser-Busch and Grupo Modelo distributorships, where they grew the market share from 27% to just over 60%, until its sale in 2007. They have broad wholesale and retail experience and their investment portfolio focuses on opportunities in these areas. In addition to their brand building expertise, the Dawsons have a history of supporting a broad range of local businesses and non-profit groups.
About Tootie Pie Co.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual customers through sales in its Tootie Pie Gourmet Cafés, in-store sales, orders via telephone and internet on the Company’s website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels. Tootie Pie Company is a public company traded on the NASDAQ OTC market under the symbol “TOOT.” For additional information or to receive correspondence from Tootie Pie Company, please visit www.tootiepieco.com.
This press release may contain forward-looking statements. The words “believe,” “expect,” “should,” “intend,” “estimate,” and “projects,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company’s current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company’s filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
Tootie Pie Company, Inc.
Carla Carter, 210-737-6600
Source: Business Wire (August 31, 2010 – 9:30 AM EDT)