Clearly Canadian to Acquire North American Organic Jam Company

TORONTO—One of North America's largest organic jam companies, Crofters Food Ltd., is spreading the love to Clearly Canadian Brands (OTCBB:CCBEF), which is set to acquire the jam and spreads maker. The acquisition would double the size of Clearly Canadian, putting it on track to reach $30 million in 2009 revenues, and have a positive effect on cash flow. Clearly Canadian expects its organic brand push into the U.S. market to benefit from Crofters, whose selling relationships should support all Clearly Canadian's divisions, including organic baby food and organic nuts. The company's purchase of gourmet and gluten-free meat provider Baldwin Street Kosher, announced in April 2008, is also expected to close shortly.

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