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Combination Creates Unrivaled Leadership in Technology Solutions and Connectivity Across the Entire Food & Beverage Supply Chain

10/9/2009
Press Release

PHOENIX, AZ – October 9, 2009 –- AFS Technologies, Inc (“AFS”), the leading provider of software solutions to trading partners throughout the food and beverage channel, announced today that it has completed the acquisition of Becton Schantz, Inc. (“Becton Schantz”), an Atlanta, GA-based leading provider of integrated administrative solutions for sales agencies serving the retail, consumer products and food service markets. Becton Schantz was acquired for cash, and funded by AFS Technologies´ own cash balances.

Following the acquisition of Becton Schantz, AFS Technologies now serves over 1000 customers within the manufacturing, sales agency (broker), third-party logistics (3PL) warehouse, and distribution segments of the food and beverage channel. AFS provides a broad portfolio of powerful solutions, on a licensed and hosted (SaaS) mode, including enterprise resource planning (ERP), warehouse management systems (WMS), business intelligence (BI), order management systems (OMS), trade promotion management and forecasting tools. Additionally, the company´s PROFILE features the industry´s largest database of product information for trading partners throughout the food and beverage supply chain.

“At AFS, our focus is to assist all trading partners in the food and beverage channel optimize profits by eliminating inefficiencies and soft costs by offering solutions that improve productivity and promote connectivity between trading partners”, said Kurien Jacob, Chief Executive Officer of AFS Technologies. “The acquisition of Becton Schantz allows us to extend that focus to a trading partner segment that provides a critical link and valuable offerings to the entire supply chain: the sales agency, or broker.”

“The addition of Becton Schantz´s robust products, along with its well-respected sales agency customer base, into the AFS family will enable us to continue to develop solutions that improve efficiency, enhance collaboration and build profitable connections between all trading partners in our channel;” continued Mr. Jacob. “The ability to exchange and access important product information through PROFILE, eliminate inefficiencies in trade promotion planning and execution and improve coordination in creating meaningful forecasts and demand planning through broader collaboration of key trading partners are just a few of the myriad of benefits that the industry will realize through this acquisition.”

“For the past 25 years, Becton Schantz has been focused on developing powerful solutions for the unique needs of the sales agency market,” said Marc Schantz, President of Becton Schantz. “With the combination of Becton Schantz and AFS, 70% of all transaction data in the food supply chain, representing over $100 billion in value, will flow through AFS software. This will enable PROFILE to provide supply chain connectivity which will improve data flow between the trading partners and reduce costs”

“All of us at AFS are excited at the potential new opportunities for continued product innovation and growth created by the acquisition of Becton Schantz”, said Walter Barandiaran, Chairman of AFS Technologies. “Our vision of building a more efficient food and beverage supply chain by connecting trading partners with best-of-class solutions is enhanced with the addition of Becton Schantz´s products and customers.”

Madison Park Group served as the investment banking advisor to AFS on this transaction.

About AFS Technologies, Inc. AFS Technologies Inc. is the leading provider of business enterprise and on-demand software solutions to customers across the food and beverage channel. Following the acquisition of Becton Schantz, the company now serves over 1000 customers across North America and the Caribbean with solutions designed to reduce costs, increase efficiency, increase sales and margins, streamline internal processes and assist in regulatory compliances. AFS offers the industry´s only complete end-to-end software suite utilizing service oriented architecture (SOA) and the Microsoft .NET framework. This unique modularly designed system offers solutions for Distribution, Sales & Marketing, Financials, Processing, Warehouse Management, Transportation, and Database Services, featuring the industry´s largest database of product information and recipes, the PROFILE™ Database. For additional information, please visit www.afsi.com or call 877-821-3007.

About Becton Schantz, Inc. Becton Schantz is the leading provider of order management and sales force automation solutions for sales agencies. Founded in 1984 to create an efficient software solution for sales agencies, Becton Schantz offers innovative software products, application development and administrative outsourcing services to a wide variety of industries. The companys web-based suite of products, used by over 150 sales agencies in North America, is hosted in their Atlanta-based service center. For more information, visit www.bectonschantz.com

About Madison Park Group Madison Park Group (MPG) is an investment banking firm focused on advising technology and business services companies on pursuing M&A and private equity transactions. Madison Park Group´s principals have extensive transaction and operating experience in the technology and business services sectors and have executed over $30 billion in financing and M&A transactions. For more information, visit www.madisonparkgrp.com or call 212-292-4407.

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