Envit Capital Announces Acquisition of Irish Pork Rib Company

Tag : pork
The Envit Capital Group, Inc., (Envit Capital) -- (PINK SHEETS:ECGP) -- a financial holding company for financial entities,headquartered in Boston Massachusetts announced today that theCompany has completed the acquisition of a 5% ownership in RibWorld. Rib World is a state-of-the-art pre package pork processingoperation, based in Clonmel, County Tipperary, Ireland. The companyconcentrates on producing pre package pork ribs. Rib World has justcome off one of its best months ever in October 2008, selling over750,000 Euro in rib sales. Rib World calls on many years ofexperience of operational meat production. The plant is designed toproduce a high-quality, unique pork products for the Europeanmarkets. Rib World was founded in 2003 by Bo Nielsen and partners. Chairman and CEO Edward M. Laborio said today, "Rib World is anacquisition that we are very proud to announce. The growth of RibWorld in the past 24 months has been amazing and because of thelimitless potential of the company we have entered into anagreement to acquire an additional percentage of Rib World, whenand if parameters have been satisfied on Envit Capital's behalf. Athis time we are not able to divulge the details of the deal oracquisition in order to honor the request of Rib World's privatecompany status. These details will be released at a later date whenapproved by Rib World." Laborio also stated, "I would like to note to current shareholdersthat no freely trading shares in ECGP where given to Rib World asexchange for the acquisition. The Board of Directors are alsoexploring surrendering different outstanding classes of shares ofthe ECGP in order to give current shareholders a better ratio ofownership." Rib World More information can be found about Rib World at www.ribworld.ie. Envit Capital Group, Inc. The Envit Capital Group, Inc. operates as a holding company forfinancial entities, investor partnerships, and asset managementsubsidiaries. The company is headquartered in Boston,Massachusetts. The Envit Capital Group, Inc., is headquartered in Boston,Massachusetts at 99 Summer Street; 17th Floor Boston, MA 02110(617)-542-3333. Forward-looking Statements "Safe Harbor" Statement under the Private Securities LitigationReform Act of 1995: This press release contains or may containforward-looking statements such as statements regarding theCompany's growth and profitability, growth strategy, liquidity andaccess to public markets, operating expense reduction, and trendsin the industry in which the Company operates. The forward-lookingstatements contained in this press release are also subject toother risks and uncertainties. The Company assumes no obligation toupdate these forward-looking statements to reflect actual results,changes in risks, uncertainties or assumptions underlying oraffecting such statements, or for prospective events that may havea retroactive effect.