Basic American Foods Acquires Harry’s Fresh Foods

BASIC AMERICAN FOODS ACQUIRES HARRY’S FRESH FOODS

Walnut Creek, CA – July 20, 2007 – Basic American Foods, one of the world’s leading suppliers of convenience food products, has acquired Harry’s Fresh Foods (Harry’s), a leader in fresh and prepared foods, based in Portland, Oregon.

Under the terms of the sale, founder Rod Harris will continue as President and CEO of Harry’s. Current management, operations, and staffing are expected to remain in effect, with a continuation of all employee benefits. Production and operations at Harry’s will continue to be housed in its Portland facilities, with integrated marketing and sales support from Basic American Foods.

Financial terms of the sale were not disclosed.

“Harry’s annualized growth rate of 30% over the last decade reflects its operational excellence and its commitment to quality, taste, and convenience in its family of products,” commented Loren Kimura, President and CEO of Basic American Foods. “These are values that we share, and that complement our expanding foodservice, wholesale club, and retail business.”

Harris said, “With the continued popularity of fresh and prepared convenience foods and the market leadership of Basic American Foods, we look forward to synergies that support the growth of both our companies.”

For nearly 30 years, Harry’s Fresh Foods has provided consumers and foodservice partners with a range of fresh and prepared foods, including soups, chilis, stews, side dishes, entrées, sauces, gravies, and desserts. Professional chefs prepare Harry’s recipes which are then cooked in small kettles. Every batch is produced without preservatives and is packaged using a state-of-the-art chill process which locks in freshness and which assures a superior, gourmet quality. Headquartered in an 80,000 square-foot plant in Portland, Harry’s employs more than 250 people.  For more information visit harrysfresh.com.

Headquartered in Walnut Creek, California and privately held, Basic American Foods is one of the world’s leading suppliers of convenience food products, including dry potato and bean products as well as refrigerated potato products. Some of the company’s leading brands in its family of premium products include: Nature’s Own® Potato Pearls® Premium Mashed Potatoes; Golden Grill Russet™ Premium Hashbrown Potatoes; Potato Pearls®; Quick-Start® Chili; and Santiago® refried and black beans; and the Naturally Potatoes® brand of refrigerated potato products. Founded more than 75 years ago, Basic American Foods serves foodservice distributors, commercial, non-commercial foodservice operators, industrial, wholesale club, and retail customers in domestic and international markets. For more information, visit baf.com.