Paradise is exploring and evaluating strategic alternatives for the company including a possible merger or sale of, or acquisition or other strategic investment by, the company.
The Board of Directors has retained Hyde Park Capital as financial advisor to assist in this process.
The Company has not set a timetable for completion of the evaluation process or made a decision to pursue any particular strategic alternative.
There can be no assurance that the exploration and evaluation of strategic alternatives will result in any particular outcome. The Company does not intend to provide any updates unless or until it determines that further disclosure is appropriate or necessary.
The Company is primarily engaged in producing, packing and distributing candied fruit to manufacturing bakers, institutions and retailers for use in home baking, as well as in the production of plastic containers for its own products and molded plastics for sale to unaffiliated customers.