Exhibit 10.16


Real Property Purchase and Sale Agreement dated May 2, 2008 whereby Golden Flake
    Snack Foods, Inc., a wholly-owned subsidiary of Golden Enterprises, Inc.
           re-acquired certain real property in Nashville, Tennessee.




                                       47
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                            PROPERTY CONTRACT OF SALE

THIS  CONTRACT OF SALE is hereby made and entered into by and between  TENNESSEE
CHIPS,  LLC, a Tennessee  limited liability company (herein called "Seller") and
GOLDEN FLAKE SNACK FOODS, INC., a Delaware corporation  (hereinafter referred to
as "Purchaser").

                                   WITNESSETH:

For and in  consideration of the sum of Ten ($10.00)  Dollars,  as earnest money
paid,  and in part  payment of the purchase  price,  and other good and valuable
consideration,  the receipt  and  sufficiency  of which is hereby  acknowledged,
Seller  hereby  agrees to sell to  Purchaser,  and  Purchaser  hereby  agrees to
purchase  from  Seller,  a certain  tract of real  property  located in Davidson
County,  Tennessee,  together with any  improvements  thereon and all easements,
covenants,  licenses,  and other rights appurtenant to said real property,  said
real property being generally described as follows:

               Land, building, fixtures and improvements

           located at 2930 Kraft Drive, Nashville, Tennessee.

A complete legal description of said real property is attached hereto as Exhibit
"A". All property and  interests of Seller to be conveyed  hereunder  are herein
sometimes collectively called the "Property."

THIS SALE SHALL BE MADE UPON THE FOLLOWING TERMS AND CONDITIONS:

1.  Purchase  Price.  Seller  has  executed a First  Real  Property  Note in the
original  principal  balance of $1,700,000.00  dated October 25, 2000 payable to
Purchaser and a Second Real Property Note in the original  principal  balance of
$300,000.00 dated October 25, 2000 payable to Purchaser. The First Real Property
Note and Second Real  Property Note are herein  collectively  referred to as the
"Notes".  As of May 2, 2008, the unpaid principal  balance together with accrued
but unpaid interest under the Notes will be $1,675,454.14. The Notes are secured
by (i) a Deed of Trust executed by Seller, Trustor, to Shelton Hatcher, Trustee,
for the benefit of Purchaser,  Beneficiary,  dated October 25, 2000 and recorded
with Davidson  County,  Tennessee in Instrument No.  20001108-0111123  ("Deed of
Trust") and (ii) UCC-1 Financing  Statements naming Tennessee Chips, LLC, Debtor
and Golden Flake Snack Foods,  Inc.,  Secured Party of record in Instrument  No.
20001108-0111124,   Instrument   No.   20001117-0114132,   and   Instrument  No.
20070424-0048390,  Register's  Office for  Davidson  County,  Tennessee  ("UCC-1
Financing Statements").  As full consideration for the purchase of the Property,
Purchaser  shall, at closing,  execute and deliver to Seller a satisfaction  and
release  document  reciting  that the Notes have been paid and satisfied in full
and satisfying and releasing the Deed of Trust and UCC-1  Financing  Statements.
The earnest money and the satisfaction and release of the Note and Deed of Trust
shall constitute the full Purchase Price for the Property.

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<PAGE>

2. Deed and Conveyance of Property.

(a) On January  12,  2007,  Tennessee  Chips,  LLC,  without  the prior  written
approval of Golden Flake Snack  Foods,  Inc.,  executed a Quitclaim  Deed to the
Property to Ronald B. Buchanan,  Trustee,  which  Quitclaim Deed is of record in
Instrument  No.   20070125-0010088,   Register's  Office  for  Davidson  County,
Tennessee.  In order to perform under the terms and conditions of this Contract,
Seller  agrees  to cause  Ronald  B.  Buchanan,  Trustee,  to  execute a Special
Warranty  Deed to the Property to Purchaser  and thereby  convey the Property to
the Purchaser  subject only to the  "Permitted  Exceptions" as listed on Exhibit
"B"  attached  hereto.  Moreover,  Seller  agrees to cause  Ronald B.  Buchanan,
Trustee, to comply with and satisfy the Schedule B-Section I requirements of the
Title  Commitment  referred  to  herein,  including,  but not  limited  to,  the
following  items  under  Schedule  B-Section  I:  Items  1,  3,  and  4  to  the
satisfaction of Purchaser and the Title Insurer.

(b) At the  Closing,  the Seller  shall cause Ronald B.  Buchanan,  Trustee,  to
execute and deliver to the Purchaser a special  warranty deed ("Warranty  Deed")
selling  and  conveying  to  Purchaser  fee  simple  title to the  Property  and
warranting good and marketable title to the same free and clear of all liens and
encumbrances  other  than the  Permitted  Exceptions  as listed on  Exhibit  "B"
attached hereto (The form of the "Warranty Deed" is attached as Exhibit "C").

3. Title Insurance.

(a) Purchaser has obtained,  at Purchaser's expense,  title insurance commitment
No. 526324,  dated April 21, 2008 ("Title  Commitment")  issued by Chicago Title
Insurance Company (the "Title Insurer") providing for the issuance of an Owner's
title insurance policy in favor of Purchaser as Owner, insuring fee simple title
in Purchaser  in the amount of the Purchase  Price,  which  Commitment  shall be
certified and updated to the Closing Date. Purchaser will accept and Seller will
cause Ronald B. Buchanan,  Trustee, to convey title to the Property to Purchaser
subject  only to the  exceptions  to title as set forth under Item 3 and Items 5
through and including Item 10 of Schedule  B-Section II of the Title  Commitment
and the 2007 property  taxes,  which  exceptions  are also listed on Exhibit "B"
attached hereto as the "Permitted Exceptions". Purchaser shall pay for the title
insurance policy to be issued in favor of Purchaser.

4.  Survey.  Prior to Closing,  Purchaser  may, at his option and at his expense
obtain an accurate survey of the Property to be prepared by a surveyor  licensed
in the State of Tennessee, certified to Purchaser, Seller and the Title Insurer,
correctly reflecting the existence and location of all easements, right-of-ways,
public roads,  highway  access,  encroachments,  improvements  and other matters
affecting the Property. The survey shall contain a certification as to the flood
zone  classification  and 100 year flood  elevation.  If a survey is obtained by
Purchaser, it shall furnish a copy to Seller.

5. Seller  Representations.  Seller hereby agrees and represents  that as of the
date of this Contract and as of the Date of Closing,  the  following  statements
are and shall be true:

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<PAGE>

(a) Seller is a validly existing Tennessee limited liability company.  Ronald B.
Buchanan,  Trustee, holds fee simple title to the Property,  subject only to the
Permitted  Exceptions.  Seller  has full  right to sell the  Property,  and this
Contract is the duly authorized and binding act of Seller.

(b) Except for the lease to  Purchaser,  there are no lease  option  agreements,
service  contracts,  licenses,  or other  contracts  which affect the  Property,
except for any such agreements listed on Exhibit 5(b).

(c) All taxes and  assessments  constituting  a lien upon the Property have been
paid in full or  shall  be paid at or  prior  to  closing.  Seller  has not been
notified of any future  improvements  by any public  authority,  any part of the
costs of which might be assessed against the Property.

(d) To the  best of  Seller's  knowledge,  there  are no  laws,  ordinances,  or
restrictions,   or  any   changes   contemplated   therein,   any   judicial  or
administrative  actions,  any  actions by  adjacent  landowners,  any natural or
artificial  conditions upon the Property,  any hazardous materials or conditions
at or near the Property,  or any other facts or conditions known to Seller which
would have an adverse  effect  upon the  Property  or its value,  or which might
delay the immediate development of the Property,  which facts or conditions have
not been disclosed in writing to Buyer or disclosed by the Title Commitment.

(e) To the best of Seller's  knowledge,  the  Property  has not been  damaged or
affected by flood or storm runoff water.

(f)  Except  for the  deteriorating  condition  of the roof,  there  shall be no
material  adverse  change in the  title,  physical  condition,  and/or any other
matter warranted or represented  herein related to the Property between the date
hereof and the date of closing.

(g) Seller's only asset is the Property.

(h) Seller has no unpaid debts,  liabilities or  obligations  due and payable or
which may become due and payable relating to the Property except as set forth on
Exhibit 5(h) attached hereto.

(i) Seller has never filed for bankruptcy nor had any involuntary petition filed
against it or made any assignment for the benefit of its creditors.

(j) There are no liens on the  Property  and no  potential  liens exist that may
arise from mechanic's or  materialmen's  liens and there are not other creditors
with potential lien claims against the Property.

(k) The present  fair  market  value of the  Property  in its  present  physical
condition is approximately equal to the unpaid indebtedness under the Notes.

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<PAGE>

Except for the roof, Seller shall continue all routine maintenance and repair of
the Property  including that for the grounds,  parking and drive areas,  and all
improvements, until the Closing Date.

6. Closing of Sale.  The Closing shall be held on the 2nd date of May, 2008 (the
"Closing  Date").  The  Closing  shall  occur at the  offices of  Chicago  Title
Insurance Company, 725 Cool Springs Blvd., Suite 160, Franklin, Tennessee 37067,
or such  other  place as the  parties  may  mutually  agree.  In the  event  the
conditions  precedent specified in paragraph 9 herein below are not satisfied on
or prior to the Closing Date,  then unless the  contingencies  not satisfied are
waived in  writing by  Purchaser,  this  Contract  shall be  terminated  and the
earnest money deposit  shall be returned to  Purchaser.  Purchaser  shall not be
required to close except upon  satisfaction  prior to closing of the  conditions
precedent  specified in paragraph 9 below. At closing,  all documents  necessary
for  conveyance  of the Property and issuance of the Title  Insurance  Policy to
Purchaser by the Title Insurer shall be executed and  delivered,  all subject to
the approval of Purchaser and the Title Insurer. Seller at closing shall execute
and deliver all  instruments  reasonably  deemed  necessary by Purchaser and the
Title Insurer to accomplish this transaction.

7.  Prorations.  Real estate taxes for the year in which closing occurs shall be
assumed by the Purchaser. Any back taxes shall be paid by Purchaser. Any special
assessments  or roll-back  taxes which may be a lien against the Property at the
date of closing,  or which are assessed for a period prior to closing,  shall be
paid by Seller.

8. Possession.  Possession shall pass with delivery of deed, provided,  however,
Seller shall have until May 15, 2008,  to remove from the Property the remaining
equipment purchased from Seller by Prime Choice Foods.

9.  Conditions  Precedent to Purchaser's  Obligations.  Purchaser's  obligations
hereunder are expressly  made subject to the  satisfaction  by Seller of each of
the  agreements  and  covenants  set forth  herein  which are to be performed by
Seller.
In the  event  any of the  agreements  and  covenants  of  Seller  have not been
satisfied,  or waived in writing, as of the Closing Date,  Purchaser may, at its
sole  election,  terminate  this Contract by notice of such to Seller,  in which
event Seller shall promptly refund the earnest money paid by Purchaser.

10. Default.  Should Purchaser default in the performance of this Contract, then
the earnest  money paid shall be retained by Seller as liquidated  damages,  and
Purchaser  shall  have no further  liability  hereunder,  either for  damages or
specific performance.

11.  Miscellaneous.  This  Contract is binding upon the heirs,  successors,  and
assigns of the respective parties,  and constitutes the entire agreement between
the parties.  Captions are for convenience only and shall not limit the scope or
intent of this  agreement,  or any part hereof.  Any notice  required or allowed
hereunder  shall be  hand-delivered  or sent by United  States  certified  mail,
return receipt requested, postage prepaid, as follows:

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<PAGE>

                To Purchaser:

                Mr. Mark W. McCutcheon
                President Golden Flake Snack Foods, Inc.
                One Golden Flake Drive
                Birmingham, Alabama 35233
                Fax Number: (205) 458-7335

                Copy to:

                John P. McKleroy, Jr.
                Spain & Gillon, L.L.C.
                The Zinszer Building
                2117 2nd Avenue North
                Birmingham, Alabama 35203
                Fax number: (205) 324-8866

                To Seller:

                Mr. Steve Peak
                C/O Ronald B. Buchanan
                Suite 101
                165 Indian Lake Blvd.
                Hendersonville, Tennessee 37075
                Fax Number: (615) 822-1684

                Copy to:

                Ronald B. Buchanan
                Suite 101
                165 Indian Lake Blvd.
                Hendersonville, Tennessee 37075
                Fax Number: (615) 822-1684

      Where the  circumstances  require,  the singular shall refer to the plural
and the plural to the singular, and the use of one gender shall be applicable to
all  genders.   This  instrument  is  severable  such  that  the  invalidity  or
unenforceability  of any  provision  hereof  shall not  affect the  validity  or
enforceability  of the  remaining  provisions.  This  Contract  and  the  rights
hereunder  are not  assignable,  and the  provisions  hereof  shall  survive the
closing.

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<PAGE>

12.  Environmental  Assessments.  Any environmental  assessments required by the
Purchaser, his representatives or agents, shall be paid for by the Purchaser and
a copy shall be furnished to the Seller.

13.  Condition  of  Property.  Seller  makes no  representations  or  warranties
regarding  the  condition of the  Property  except to the extent  expressly  and
specifically  set forth herein.  Purchaser has had the opportunity to determine,
both personally and through or with a  representative  of Purchaser's  choosing,
any and all conditions of the Property  material to Purchaser's  decision to buy
the Property.  Except as otherwise stated in this Agreement,  Purchaser  accepts
the Property in their present "AS IS" condition.

14. Casualty Loss and  Condemnation.  If, prior to Closing,  the Property or any
part thereof shall be destroyed or materially damaged by fire or other casualty,
or condemned that is in excess of  $100,000.00,  Purchaser shall have the option
either to terminate this Agreement or to consummate the transaction contemplated
by this Agreement  notwithstanding  such  condemnation,  destruction or material
damage.  If Purchaser elects to consummate the transaction  contemplated by this
Agreement,  Seller  shall be entitled to receive  the  condemnation  proceeds or
settle the loss under all policies of insurance applicable to the destruction or
damage and receive the proceeds of insurance  applicable thereto,  and Purchaser
shall,  at Closing  receive a credit  against  the  Purchase  Price equal to the
amount of such  insurance  or  condemnation  proceeds  received  by  Seller.  If
Purchaser  elects to terminate  this Agreement as a result of a casualty loss or
condemnation  in excess of  $100,000,  the  Earnest  Money  shall be returned to
Purchaser,  in which event this Agreement  shall,  without further action of the
parties,  become  null and void and  neither  party  shall  have any  rights  or
obligations under this Agreement.

      If,  prior to  Closing,  there  is any  other  damage  or  destruction  or
condemnation  that is less than $100,000.00 to the Property or any part thereof,
Seller  shall either  repair such damage  prior to Closing or allow  Purchaser a
credit against the Purchase  Price of the Equipment or Real Property,  whichever
is damaged or condemned,  in an amount equal to the reasonably estimated cost of
repair.

15. No Brokers. SELLER AND PURCHASER EACH REPRESENTS TO THE OTHER THAT IT HAS NO
AGREEMENT TO PAY ANY  COMMISSION TO ANY BROKER AS A RESULT OF THIS  AGREEMENT OR
SALE AND EACH PARTY AGREES TO INDEMNIFY, HOLD HARMLESS AND DEFEND THE OTHER FROM
ANY AND ALL CLAIMS FROM REAL ESTATE BROKERS, AGENTS OR OTHER PARTIES CLAIMING TO
BE ENTITLED TO A FEE,  COMMISSION OR OTHER  COMPENSATION  FROM THE  INDEMNIFYING
PARTY AS A RESULT OF THE  EXECUTION OF THIS  AGREEMENT OR THE SALE  CONTEMPLATED
HEREIN. THE OBLIGATIONS OF THIS PARAGRAPH SHALL SURVIVE THE CLOSING.

16.  Attorney's  Fees and Recording  Fees. The Seller shall be  responsible  for
payment of its attorney's  fees.  Purchaser  shall be responsible for payment of
its attorney's  fees.  The recording fees and taxes imposed upon  recordation of
the deed shall be paid by Purchaser.

                  (Signatures appear on the next page)

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      IN  WITNESS  WHEREOF,  the  parties  have  executed  this  Contract  to be
effective as of the last date written below.

      Seller:
                                          TENNESSEE CHIPS, LLC

/s/ Steve Peak                            By:
-----------------------------------
                                          Steve Peak
                                          Its: Member and Chief Manager

      Purchaser:
                                          GOLDEN FLAKE SNACK FOODS, INC.

/s/ Mark W. McCutcheon                    By:
-----------------------------------
                                          Mark W. McCutcheon
                                          Its: President

STATE OF ____________   )
__________ COUNTY       )

      I, the  undersigned  authority,  a notary public in and for said county in
said  state,  hereby  certify  that  Steve  Peak,  whose  name is  signed to the
foregoing  instrument  in his capacity as Member and Chief  Manager of Tennessee
Chips,  LLC., a Tennessee  limited  liability  company,  and who is known to me,
acknowledged  before me on this day that, being informed of the contents of said
instrument,  he executed the same  voluntarily on the day the same bears date as
the act of said corporation.

                     Given under my hand and official seal this the _____ day of
________________, 2008.


                                    Notary Public
                                    My Commission Expires:
                                                          --------------------

STATE OF ALABAMA        )
JEFFERSON COUNTY        )

      I, the  undersigned  authority,  a notary public in and for said county in
said state, hereby certify that Mark W. McCutcheon,  whose name is signed to the
foregoing  instrument  in his capacity as President of Golden Flake Snack Foods,
Inc., a Delaware corporation,  and who is known to me, acknowledged before me on
this day that,  being informed of the contents of said  instrument,  he executed
the  same  voluntarily  on the  day  the  same  bears  date  as the  act of said
corporation.

                     Given under my hand and official seal this the _____ day of
________________, 2008.


                                    Notary Public
                                    My Commission Expires:
                                                          --------------------


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                                   EXHIBIT "A"

                                LEGAL DESCRIPTION
                                -----------------


Parcel I:
---------

            Land  in  Davidson  County,  Tennessee,  being  Lot  No.  21 and the
            northerly  one-half (1/2) of Lot 20 on the Map of Sidco Subdivision,
            of record in Book 2133, page 115, Register's Office for said County.

            Said Lot No.  21 and the  northerly  one-half  (1/2)  of Lot No.  20
            adjoin and front together 150 feet on the easterly boundary of Kraft
            Drive and run back between parallel lines, 315 feet to a dead line.

Parcel II:
----------

            Land  in  Davidson  County,  Tennessee,  being  Lot  No.  22 and the
            southerly  one-half  of Lot 23 on the Map of Sidco  Subdivision,  of
            record in Book 2133, page 115, Register's Office for said County.

            Said  Lots No.  22 and part of 23 front 150 feet
            on the  easterly  side of Kraft Drive and extend
            back  between  parallel  lines  315  feet to the
            center line of the L. & N. lead track.

            Being the same  property  conveyed to Ronald B.  Buchanan,  Trustee,
            with full  power to sell,  mortgage  or convey  without  joinder  of
            beneficiary by Quitclaim Deed from Tennessee  Chips,  LLC, of record
            in Instrument No.  20070125-0010088,  Register's Office for Davidson
            County, Tennessee.

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                                   EXHIBIT "B"


                              PERMITTED EXCEPTIONS
                              --------------------

1.    Taxes for the year of 2007 are unpaid and  delinquent.  Taxes for the year
      2008 are a lien, not yet due and payable.

2.    Subject to all matters shown on the Plan of Sidco Subdivision of record in
      Plat Book 2133,  Page 115, as amended in Book 5842,  page 627,  Register's
      Office for Davidson County, Tennessee.

3.    Restrictive  Covenant  of record in Book 6513,  page 24,  said  Register's
      Office,  as partially  released by instrument of record in Book 8719, page
      650, said Register's Office.

4.    Mutual  Easement of record in Book 5958, Page 861,  Register's  Office for
      Davidson County, Tennessee.

5.    Easement for sanitary  sewers and/or storm drainage  granted  Metropolitan
      Government of Nashville and Davidson County,  Tennessee, of record in Book
      4017, page 327, Register's Office for Davidson County, Tennessee.

      Exception  to  Easement  as of record in Book 5846,  Page 715,  Register's
      Office for Davidson County, Tennessee.

6.    Rights reserved with reference to uranium,  thorium and all other material
      essential to  production of  fissionable  materials as is fully set out in
      deed of record in Book 2152,  page 347,  Register's  Office  for  Davidson
      County, Tennessee.

7.    Easements  as set out in  instrument  of  record in Book  2293,  page 555,
      Register's Office of Davidson County, Tennessee.

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