Nascent Foodservice, Inc. (OTCBB: NCTW) originated as a family owned cheese business and has grown to become a leading distributor of food and beverages throughout Mexico. Focusing on distribution agreements and strategic acquisitions, the company has positioned itself for success in a growing industry. The company’s product line is extensive, and with so much to offer, Nascent has had a busy 2007.
In December Nascent announced the opening of a new 30,000 square-foot distribution center in Mexico City, intended to house two of the company’s operations to consolidate operations and reduce expenses.
In November of 2007, Nascent’s subsidiary, Grupo Sur Promociones, one of the largest and most successful merchandising and promotions companies in Mexico, celebrated its 30th year in business. The celebration was held in Mexico City and was attended by employees, customers and members of the press.
Part of the company’s success can be attributed to strategic acquisition as well as cheese. In October, Nascent announced the finalization of the acquisition of Comercial Targa S.A. de C.V., a leading imported cheese distributor in Baja California, Mexico. The company’s cornerstone is Nery’s and Nery’s Choice, produced in the U.S. and distributed to nearly every grocery store in Baja.
Additionally, in September the company provided merchandising, promotional and Web –based route management services to 20th Century Fox through its subsidiary Grupo Sur Promociones’ GPS system and software; launched its new Proprietary Sales and Management Web-based Software for salespeople, merchandisers and promoters; and announced the appointment of two new board members.
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