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EXHIBIT 99
FOR IMMEDIATE RELEASE
ATLANTIC PREMIUM BRANDS, LTD. ANNOUNCES
STOCK REPURCHASE PROGRAM AND THE
RESIGNATION OF A DIRECTOR
Northbrook, Illinois, July 12, 2000 - Atlantic Premium Brands, Ltd.
(AMEX: ABR) announced today that its Board of Directors has authorized the
purchase of up to $400,000 of the company's common stock. Purchases will be made
from time to time in the open market or in privately negotiated transactions as
market conditions warrant. The stock repurchase program will expire on November
15, 2000.
Alan F. Sussna, President and Chief Executive Officer of Atlantic
Premium Brands, Ltd., stated, "We believe in our strategy and in our ability to
execute it in a timely manner. As a result, we think that buying back Atlantic
Premium Brands, Ltd. common stock is an excellent investment for our
shareholders."
In a separate announcement, Atlantic Premium Brands, Ltd. announced the
resignation, effective as of June 29, 2000, of Mr. Rick Inatome from its Board
of Directors. Mr. Inatome requested that the Company accept his resignation due
too the increasing demands of his responsibilities in California as President
and Chief Executive Officer of ZapMe! Corporation.
Alan F. Sussna, President and Chief Executive Officer of Atlantic
Premium Brands, Ltd., commented, "We are truly sorry to accept Rick Inatomes'
resignation, but we understand his personal decision and wish him the best of
luck. Rick has been a highly valued colleague and strategic mentor."
Atlantic Premium Brands, Ltd., through its operations in Texas,
Louisiana, Kentucky and Oklahoma, manufactures, markets and distributes food
products for customers in a twelve-state region. Through its operations, the
Company markets and distributes its own branded processed food products under
brand names including J.C.Potter, Blue Ribbon, Richard's, Grogan's Farm,
Carlton, Partin's Country Sausage, Texas Traditions, Favorite Country Recipes
and Cajun Favorites.
Atlantic Premium Brands, Ltd. wants to provide stockholders and
investors with meaningful and useful information. Therefore, this press release
contains forward-looking information, describes the Company's belief concerning
future business conditions, and the outlook of the Company based on currently
available information. Whenever possible, the Company has identified these
"forward looking" statements by words such as "think", "ability to" "believe",
and similar expressions. These forward looking statements are subject to risks
and uncertainties which could cause the Company's actual results or performance
to differ materially from those expressed in these statements. These risks and
uncertainties include the following: risks associated with acquisitions
including the integration of acquired businesses, new product development and
other aspects of the Company's business strategy; uncertainty as to evolving
consumer preferences; customer and supplier concentration; the impact of
competition; and sensitivity to such factors as weather and raw material costs.
Readers are encouraged to read The Company's Annual Report on Form 10-K, its
Current Report on Form 8-K dated June 4, 1997 and other reports filed with the
Securities and Exchange Commission for a more complete description of these
factors. The Company assumes no obligation to update the information contained
in this press release.
