March 9, 2020 / 10:13 AM / 20 days ago

BRIEF-BR Brands And Dixie Agree To Combine, Creating CPG Platform

March 9 (Reuters) - Dixie Brands (USA) Inc:

* BR BRANDS AND DIXIE AGREE TO COMBINE, CREATING MARKET-LEADING CPG PLATFORM

* DIXIE BRANDS (USA) INC - UNDER TERMS OF DEAL, BR BRANDS WILL COMBINE OPERATIONS WITH DIXIE BY ASSUMING PUBLICLY TRADED PLATFORM VIA A REVERSE TAKEOVER

* DIXIE BRANDS (USA) INC - BOARD OF DIRECTORS OF MERGED CO WILL BE COMPRISED OF THREE NOMINEES OF BR BRANDS AND TWO NOMINEES OF DIXIE

* DIXIE BRANDS (USA) INC - CHUCK SMITH, PRESIDENT & CEO OF DIXIE, TO BECOME PRESIDENT AND CEO OF MERGED CO

* DIXIE BRANDS (USA) INC - ANDREW SCHWEIBOLD WILL SERVE AS CHAIRMAN OF BOARD OF MERGED COMPANY

* DIXIE BRANDS (USA) INC - DIXIE’S CFO, GREG ROBBINS HAS RESIGNED EFFECTIVE IMMEDIATELY

* DIXIE BRANDS (USA) INC - DIXIE’S CURRENT CONTROLLER, JARED LANSER, WILL ASSUME ROLE OF INTERIM CFO OF DIXIE

* DIXIE BRANDS (USA) INC - UNDER TERMS OF DEAL, BR BRANDS WILL COMPLETE REVERSE TAKEOVER OF DIXIE AT IMPLIED VALUATION OF DIXIE OF MINIMUM OF $43.2 MILLION Source text for Eikon: Further company coverage:

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