EX-99.1
2
margo8k02230599-1.txt
PRESS RELEASE
Exhibit 99.1
MARGO CARIBE, INC.
Call Box 1370
Dorado, Puerto Rico 00646
February 17, 2005 FOR IMMEDIATE RELEASE
---------------------
Contact:
Juan B. Medina
Senior Vice President and
Chief Financial Officer
Tel. (787) 883-2570 (Ext. 1033)
MARGO CARIBE ANNOUNCES CLOSING OF PURCHASE OF
THE ASSETS OF STATE-LINE BARK & MULCH, INC.
Vega Alta, Puerto Rico, February 17, 2005, Michael J. Spector, the
President and Chief Executive Officer of Margo Caribe, Inc. (Nasdaq: MRGO),
announced today that on February 16, 2005, Margo State Line, Inc., a Florida
corporation and a wholly owned subsidiary of Margo Caribe, Inc., completed the
purchase of substantially all the assets (other than real property) of
State-Line Bark & Mulch, Inc., a Georgia corporation (the "Seller"). The closing
was effected pursuant to the terms of an Asset Purchase Agreement between the
Seller and Richard K. Stewart and Dana M. Stewart, the shareholders of the
Seller. At closing, Margo paid the Seller $1.96 million in cash for all the
assets other than the real estate and agreed to assume approximately $690,000 in
liabilities. The closing of the real estate, consisting of approximately 100
acres, is subject to the completion of environmental and other due diligence
matters. Margo has agreed to pay $640,000 for the real estate. The Seller is
engaged in the business of the production of bulk or bagged ground cover, soil
and compost and related products in Folkston, Georgia.
Margo Caribe, Inc. is currently engaged in the business of growing and
distributing a wide range of both indoor and outdoor tropical foliage and
flowering plants in Puerto Rico. The Company is also engaged in the sale of lawn
and garden products, the provision of landscaping services and maintenance
throughout Puerto Rico and Caribbean and the manufacturing of potting soils and
other lawn and garden goods under the Rain Forest trade name, as well as in the
process of permitting a residential development project in Puerto Rico.
FORWARD LOOKING STATEMENTS
This press release contains certain "forward looking statements" concerning
Margo Caribe's economic future performance. The words "expect", "anticipate,"
"hope" and similar expressions are meant to identify "forward looking
statements" within the meaning of the Private Securities Litigation reform act
of 1995.
Margo Caribe wishes to caution readers not to place undue reliance on any
such "forward looking statements", which speak only as of the date made and to
advise readers that various factors, including regional and national economic
conditions, natural disasters, competitive and regulatory factors and
legislative changes, could affect Margo Caribe's financial performance and could
cause Margo Caribe's actual results for the future periods to differ materially
from those anticipated or projected.
Margo Caribe does not undertake and specifically disclaims any obligation
to update any "forward looking statements" to reflect occurrences or
unanticipated events or circumstances after the date of such statements.

EX - 99 . 1 2 margo8k02230599 - 1 . txt PRESS RELEASE Exhibit 99 . 1 MARGO CARIBE , INC . Call Box 1370 Dorado , Puerto Rico 00646 February 17 , 2005 FOR IMMEDIATE RELEASE --------------------- Contact : Juan B. Medina Senior Vice President and Chief Financial Officer Tel . ( 787 ) 883 - 2570 ( Ext . 1033 ) MARGO CARIBE ANNOUNCES CLOSING OF PURCHASE OF THE ASSETS OF STATE - LINE BARK & MULCH , INC . Vega Alta , Puerto Rico , February 17 , 2005 , Michael J . Spector , the President and Chief Executive Officer of Margo Caribe , Inc . ( Nasdaq : MRGO ) , announced today that on February 16 , 2005 , Margo State Line , Inc . , a Florida corporation and a wholly owned subsidiary of Margo Caribe , Inc . , completed the purchase of substantially all the assets ( other than real property ) of State - Line Bark & Mulch , Inc . , a Georgia corporation ( the " Seller " ) . The closing was effected pursuant to the terms of an Asset Purchase Agreement between the Seller and Richard K . Stewart and Dana M . Stewart , the shareholders of the Seller . At closing , Margo paid the Seller $ 1.96 million in cash for all the assets other than the real estate and agreed to assume approximately $ 690,000 in liabilities . The closing of the real estate , consisting of approximately 100 acres , is subject to the completion of environmental and other due diligence matters . Margo has agreed to pay $ 640,000 for the real estate . The Seller is engaged in the business of the production of bulk or bagged ground cover , soil and compost and related products in Folkston , Georgia . Margo Caribe , Inc . is currently engaged in the business of growing and distributing a wide range of both indoor and outdoor tropical foliage and flowering plants in Puerto Rico . The Company is also engaged in the sale of lawn and garden products , the provision of landscaping services and maintenance throughout Puerto Rico and Caribbean and the manufacturing of potting soils and other lawn and garden goods under the Rain Forest trade name , as well as in the process of permitting a residential development project in Puerto Rico . FORWARD LOOKING STATEMENTS This press release contains certain " forward looking statements " concerning Margo Caribe 's economic future performance . The words " expect " , " anticipate , " " hope " and similar expressions are meant to identify " forward looking statements " within the meaning of the Private Securities Litigation reform act of 1995 . Margo Caribe wishes to caution readers not to place undue reliance on any such " forward looking statements " , which speak only as of the date made and to advise readers that various factors , including regional and national economic conditions , natural disasters , competitive and regulatory factors and legislative changes , could affect Margo Caribe 's financial performance and could cause Margo Caribe 's actual results for the future periods to differ materially from those anticipated or projected . Margo Caribe does not undertake and specifically disclaims any obligation to update any " forward looking statements " to reflect occurrences or unanticipated events or circumstances after the date of such statements .
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