Seaway Valley Capital Corporation (OTCBB: SWVC) announced yesterday that its wholly owned subsidiary, North Country Hospitality, Inc. engaged Quantified Purchasing Resources (QPR), to negotiate vendor product-purchasing contracts on its behalf. QPR, whose customers are primarily multi-unit restaurant groups, purchases over $100 million of products from national manufactures and distributors annually.
James Cook, Vice President of QPR stated, “We are very excited to be working with North Country and Seaway Valley, and we are confident that we can utilize our strength and industry contacts to increase efficiencies in its purchasing program.” Mr. Cook added, “We believe there could be as much as 3-4% of overall savings in North Country’s cost of goods for its restaurant holdings.” Mr. Swartz continued, “The QPR team is comprised of individuals with tremendous experience and knowledge within the restaurant and food procurement industry, and this relationship nicely positions our restaurant group as we look for further expansion opportunities.”
QPR’s business model is based on purchases across multiple companies to lower the overall cost of goods for its clients. North Country recently merged and operates as a wholly owned subsidiary of Seaway Valley. Seaway Valley Capital Corporation makes equity, equity-related, and debt investments in companies that require expansion capital. Seaway seeks investments in leveraged buyouts and companies that are restructuring. Seaway considers investment opportunities in numerous industries, including retail, restaurants, media, business services, manufacturing, and select technologies.
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