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Healthy Food Holdings Acquires Van’s International Foods
December 2006

Boulder, CO (December, 2006) –Healthy Food Holdings, a portfolio company of private equity firm Catterton Partners whose aim is to provide food products clearly positioned as healthier alternatives to conventional foods,  has closed on its acquisition of Van’s International Foods, Inc., the maker and marketer of Van’s Waffles.  Hadley Partners, Inc. initiated the transaction, assisted in the negotiations and served as financial advisor to Healthy Food Holdings in connection with the transaction.  Terms of the transaction were not disclosed.

Van’s Waffles is the leading brand of all-natural and organic frozen waffles.  Van’s manufactures and markets waffles within several categories, including Wheat-Free/Gluten-Free, Organic, Original Gourmet, Hearty Oats, Belgian, and Mini Waffles, each of which is available in a variety of flavors.  Through its soy product division, Veat Gourmet, Van’s also markets soy protein meat-alternative products, including Chick’n Free Nuggets, Gourmet Bites, Vegetarian Breast and Vegetarian Fillet.

Van’s commitment to producing high-quality products that are as healthy as they are delicious has enabled the company to be a leader in the all-natural and organic breakfast foods category,” said Chuck Marcy, Chief Executive Officer of Healthy Food Holdings.  “We are extremely excited to add the Van’s brand to our portfolio, which will give us a strong foothold in the natural and organic foods business.  With the operational and financial strength provided by Healthy Food Holdings and Catterton, I am confident we can further enhance Van’s market leadership.”
Mr. Marcy also stated, “Our financial advisor, Hadley Partners, was instrumental in initiating this opportunity and in facilitating the completion of the transaction.  They really helped us achieve our objectives and we look forward to working with them again in the future.”

About Van’s International Foods, Inc. (www.vanswaffles.com)
Van’s International Foods, Inc. manufactures and markets Van’s Waffles – the country’s leading brand of all-natural and organic frozen waffles.  Van’s broad line of waffle products includes Wheat-Free/Gluten-Free, Organic, Original Gourmet, Hearty Oats, Belgian, and Mini Waffles.  The Van’s family recipe for waffles was introduced to the United States from Belgium at the 1964 New York World’s Fair.  Van’s all-natural waffles are available in many supermarkets and most natural food stores across the United States and Canada.  Van’s also markets soy protein meat-alternative products, including Chick’n Free Nuggets, Gourmet Bites, Vegetarian Breast and Vegetarian Fillet, under the Veat Gourmet brand.

About Healthy Food Holdings, LLC
Healthy Food Holdings, a portfolio company of Greenwich-based private equity firm Catterton Partners, is a management holding company for branded, “better-for-you” foods.  Healthy Food Holdings makes strategic investments in high-quality food and beverage companies focused on healthy, natural and organic products.  Healthy Food Holdings’ current product portfolio includes the YoCrunch® brand of yogurt products.  Healthy Food Holdings has also entered into a letter of intent with CoolBrands International Inc. to acquire CoolBrands Dairy, which manufactures and markets Breyers® yogurt products.

About Hadley Partners, Inc. (www.hadleypartners.com)
Founded in 1999, Hadley Partners always seeks to provide the highest-quality merger & acquisition advisory, private placement and financial advisory services. We have a world-class team of veteran bankers that bring Wall Street experience to middle-market and emerging growth companies. Our goal is to develop relationships of trust with the leaders of these companies and with investors that pursue investment opportunities in such companies. We provide our services in a fair and flexible manner, and we always put our clients’ interests first. Hadley Partners is a registered broker-dealer, and a member of the National Association of Securities Dealers and the Securities Investor Protection Corporation.

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