Where Food Comes From(R) (d.b.a. IMI Global, Inc.) Announces Acquisition of
Merck Animal Health Verification Business
Transaction Adds New Producer Customers With Focus on Dairy Beef
Cattle Immediately Subject to USDA's Animal Disease Traceability
CASTLE ROCK, CO -- (Marketwired) -- 02/28/14 -- Where Food Comes
From, Inc. (WFCF) (d.b.a. IMI Global, Inc.) (OTCQB: WFCF), the
trusted resource for third party verification of food production
practices, today announced it has agreed to acquire certain assets of
Global Animal Management Inc., which is owned by Merck Animal Health.
Financial terms of the transaction were not disclosed.
Under the agreement, IMI Global will assume responsibility for
auditing cattle producers previously audited by Merck Animal Health,
including a large number of dairies where newborn calves destined for
interstate travel are immediately subject to the USDA's Animal
Disease Traceability (ADT) program. There are more than four million
dairy calves born annually in the United States. The transaction also
gives IMI Global the opportunity to introduce its other value-add
verification and certification services to these new customers.
"We are pleased to announce this transaction, which will extend our
verification/certification services to additional beef and dairy
customers," said John Saunders, chairman and CEO. "Our focus is on
ensuring a smooth and seamless transition so that these producers
will continue to receive high quality, cost-effective verification
In 2012, Where Food Comes From purchased a majority ownership of
International Certification Services, Inc. (ICS), a leading organic
and gluten-free certifier. In 2013, the Company also acquired Validus
Certification, providing expert third-party certification in the pork
and dairy industries. This acquisition serves to further solidify
Where Food Comes From's reputation as the expert, trusted source for
verification and certification for producers and suppliers.
"We are pleased with the pace of our M&A program and continue to
evaluate opportunities is this area," Saunders added. "Our focus is
to continue growing and diversifying our customer base while looking
for ways to bundle verification/certification services to help our
customers control costs."
About Where Food Comes From, Inc.
Where Food Comes From, Inc.
(d.b.a. IMI Global) is America's trusted resource for third party
verification of food production practices. The Company supports more
than 10,000 farmers, ranchers, processors, retailers and restaurants
with a wide variety of value-added services through its IMI Global,
International Certification Services, and Validus Verification
Services units. In addition, the Company's Where Food Comes From(R)
retail and restaurant labeling program utilizes the verification of
product attributes to connect consumers to the sources of the food
they purchase through product labeling and web-based information
sharing and education. Go to www.wherefoodcomesfrom.com for
This news release contains "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995, based on current expectations,
estimates and projections that are subject to risk. Forward-looking
statements are inherently uncertain, and actual events could differ
materially from the Company's predictions. Important factors that
could cause actual events to vary from predictions include those
discussed in our SEC filings. Specifically, statements in this news
release about industry leadership and demand for, and impact and
efficacy of, the Company's products and services on the marketplace,
and plans to grow and diversify the Company's customer base are
forward-looking statements that are subject to a variety of factors,
including availability of capital, personnel and other resources;
competition; governmental regulation of the agricultural industry;
the market for beef and other commodities; and other factors. Readers
should not place undue reliance on these forward-looking statements.
The Company assumes no obligation to update its forward-looking
statements to reflect new information or developments. For a more
extensive discussion of the Company's business, please refer to the
Company's SEC filings at www.sec.gov.
Chief Executive Officer
Pfeiffer High Investor Relations, Inc.
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