Greenfield Farms Food has signed a letter of intent(LOI)to acquire Ohio-based Carmela's Pizzeria for an undisclosed amount.Carmela's Pizzeria operates three locations in Dayton,US,offering New York style pizza.
Carmela's also offers a full service menu for Dine In,Carry out and delivery as well as pizza buffets in selected outlets.
The transaction is subject to execution of definitive agreements and board approvals.
Greenfield Farms Food president Henry Fong said that Carmela's is a great addition for Greenfield given America's love of pizza and the proven record of the industry.
"In our opinion Carmela's has built a solid business model offering quality food at affordable prices that can be scaled-up quickly with sufficient capital resources,"Fong added.
Carmela's president Ron Heineman said,"We are excited to become part of a public company as it will open up the capital markets to us in an effort to accelerate our growth as we believe that the simplicity of the Carmela's business model is highly scalable."
