Midera Food Processing Acquires Arkansas-Based Phoenix Innovations; Financial Terms Not Disclosed

Midera Food Processing, Inc. (Nasdaq: MFP) ("Midera" or the "Company"), a leading global pure-play food processing automation company, today announced the acquisition of Phoenix Innovations Inc. ("Phoenix Innovations" or "Phoenix"), a high-quality designer and builder of poultry processing equipment with extensive experience in the protein industry. Based in Russellville, Arkansas, the company is currently operating at an annual revenue run rate of approximately $25 million.