March 9 (Reuters) - Dixie Brands (USA) Inc DIXIu.CD :
* BR BRANDS AND DIXIE AGREE TO COMBINE, CREATING MARKET-LEADING CPG PLATFORM
* DIXIE BRANDS (USA) INC - UNDER TERMS OF DEAL, BR BRANDS WILL COMBINE OPERATIONS WITH DIXIE BY ASSUMING PUBLICLY TRADED PLATFORM VIA A REVERSE TAKEOVER
* DIXIE BRANDS (USA) INC - BOARD OF DIRECTORS OF MERGED CO WILL BE COMPRISED OF THREE NOMINEES OF BR BRANDS AND TWO NOMINEES OF DIXIE
* DIXIE BRANDS (USA) INC - CHUCK SMITH, PRESIDENT & CEO OF DIXIE, TO BECOME PRESIDENT AND CEO OF MERGED CO
* DIXIE BRANDS (USA) INC - ANDREW SCHWEIBOLD WILL SERVE AS CHAIRMAN OF BOARD OF MERGED COMPANY
* DIXIE BRANDS (USA) INC - DIXIE'S CFO, GREG ROBBINS HAS RESIGNED EFFECTIVE IMMEDIATELY
* DIXIE BRANDS (USA) INC - DIXIE'S CURRENT CONTROLLER, JARED LANSER, WILL ASSUME ROLE OF INTERIM CFO OF DIXIE
* DIXIE BRANDS (USA) INC - UNDER TERMS OF DEAL, BR BRANDS WILL COMPLETE REVERSE TAKEOVER OF DIXIE AT IMPLIED VALUATION OF DIXIE OF MINIMUM OF $43.2 MILLION