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EXHIBIT 99
FOR IMMEDIATE RELEASE
DISTRIBUTION ARRANGEMENT BETWEEN
ATLANTIC PREMIUM BRANDS, LTD. AND
SAM'S CLUB INC. TERMINATES
Northbrook, Illinois, August 22, 2000 - Atlantic Premium Brands, Ltd.
(AMEX: ABR) today announced the termination of its distribution arrangement with
one of its Prefco division's food distribution customers, Sam's Club, Inc.
Sam's accounted for approximately 43% of the Company's total net sales
during fiscal year 1999 and a similar percentage for the first six months of
2000. Alan F. Sussna, President and Chief Executive Officer, commented, "Sam's
has completed the construction of its own distribution facility in Texas, and as
a result is transitioning the distribution process in-house. We expect this
transition to be complete by the end of our third quarter. While Sam's has
accounted for a significant percentage of net sales in the past, the gross
margin on sales to Sam's has been no more than 4%. This change will allow the
Company to concentrate on its other, higher margin business."
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 meat products under
brand names including Blue Ribbon, J.C. Potter, Richard's, Carlton, Grogan's
Farm, 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 "about to", "expect" "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 the 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.
