Atlantic Acquisition, HF Group Holding merge
HF Group Holding is a foodservice distributor, serving over 3,200 Asian/Chinese restaurants across 10 states.
HF Foods Group Inc., Asia, formerly known as Atlantic Acquisition Corp., New York, consummated its business combination with HF Group Holding Corp., Greensboro, N.C.
Acting through its subsidiaries, HF Group Holding is a foodservice distributor, serving over 3,200 Asian/Chinese restaurants across 10 states. With nearly 400 employees, HF Group's multilingual sales and customer service divisions allow the company to overcome language and culture barriers.
"Zhou Min Ni has done a phenomenal job creating one of the leading foodservice distribution companies in the Asian/Chinese restaurant market in the United States," says Richard Xu, former chairman and CEO of Atlantic Acquisition. "Mr. Ni and his team have been exceptional partners throughout this process, and we look forward to HF Foods Group continuing its success as a public company."
“Our long-term vision is to become a nationwide leader in this niche market,” adds Zhou Mi Ni, chairman and CEO of HF Foods Group. “After more than 20 years of operational experience and growing into a nearly $300 million U.S. entity, we are excited to introduce HF Foods Group as a public company listed on the NASDAQ stock market. We look forward to expanding our customer base, streamlining infrastructure and undertaking strategic expansion through product enhancements, all of which we expect to create value for our investors."
The existing management team of HF Group Holding continues to operate the business post-transaction. Min Ni will remain chairman and CEO, and his wife, Chan Sin Wong, will serve as president. Jian (Jonathan) Ming Ni continues as the company's chief financial officer, a position he has held since 2008.
HF Foods Group's new board of directors will be comprised of Ren Hua Zheng, ATAC independent director, professor Hong Wang of North Carolina A&T State University and Zhehui Ni, vice president of Shanghai Electric Investment Co.