Galaxy Nutritional Foods, Inc. develops and globally markets plant-based cheese and dairy alternatives, as well as processed organic cheese and cheese food to grocery and natural foods retailers, mass merchandisers and food service accounts. Our overall strategy is to enhance the value of our brands by developing nutritious and delicious food products made with high quality natural ingredients that exceed the expectations of today's health conscious consumers. In this report, the terms "Company," "we," "us," or "our" mean Galaxy Nutritional Foods, Inc.
Veggie, the leading brand in the cheese alternative category of the grocery channel and our top selling product group, is primarily merchandised in the produce section and provides calcium and protein without cholesterol, saturated fat or trans fat. In the natural foods channel, our brands include: Rice, Veggy, Vegan, Rice Vegan and Wholesome Valley, which are primarily merchandised in the cheese alternative or dairy sections. We also have non-branded imitation and private label products sold in the grocery, mass market and food service channels.
We sell our products through leading grocery store chains including Publix, Kroger, Safeway, Albertson's, Wakefern, H.E. Butt and natural foods stores including Whole Foods, Wild Oats and several independents. We seek to build core brand recognition and a broader consumer base through marketing efforts consisting of advertising, public relations and product sampling to educate consumers on the benefits of cheese alternatives as part of a healthy lifestyle. Our strategy for the future is to continue our marketing efforts primarily in the retail market to capitalize on the continuing interest among consumers in eating foods low in cholesterol, saturated fat and trans fat. We believe that one of the leading contributors of cholesterol and saturated fat in the American diet is conventional cheese. By providing good tasting cheese alternatives in convenient forms and flavors, we believe that we will be able to attract an increasing number of consumers interested in improving their diet and eating habits.
Our Company was founded in 1972 under the original name of Fiesta Foods & Galaxy Foods in New Castle, Pennsylvania. In 1980, the name was changed to Galaxy Cheese Company and subsequently reincorporated under the laws of the State of Delaware in 1987. In June 1991, we moved from New Castle, Pennsylvania to Orlando, Florida and in November 2000 we changed our name to Galaxy Nutritional Foods, Inc. to more clearly define our position in the food category.
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