LYNN, Mass.-Cheesewhse.com struck a deal on Feb. 19 to buy Crystal Food Import Corp., based here, for an undisclosed sum. The deal, according to a letter from Crystal's Stephanie Ciano Pace sent to vendors and Gourmet News, closed around March 1.
The sale includes the inventory, accounts receivables, and all assets of Crystal Food Import. All vendors will be paid in full for every invoice from Nov. 9, 2009, to the present. On Nov. 9, 2009, Crystal Food Import filled Chapter 11 bankruptcy protection, according to court records.
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According to the letter, Cheezwhse.com will run Crystal Food Import as an independent division while streamlining costs by consolidating freight, efficiencies in logistics, and increased purchasing power based on the two companies buying together.
Gourmet News was unable to reach Ciano Pace, who was attending the Salon du Fromages in Paris, before press time. Gourmet News was also unable to reach Joe Gellert, president of Cheesewhse.com, before press time.
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