Barfresh Builds on Education Channel Momentum with Additional Major Customer Wins
04 Juni 2024 - 2:30PM
Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq:
BRFH), a provider of frozen, ready-to-blend and ready-to-drink
beverages, continued accelerating its education channel growth
trajectory, announcing today it has won several new customers in
this key sales channel. The Company recently secured 542 new school
locations across multiple states, representing a collective
population of over 390,000 students. These new school locations
will serve a variety of the Company’s products, including its Twist
& Go carton and bottled smoothie products, 5:1 100% juice
concentrates, and 1:1 bulk easy pour concentrates to their students
beginning with the 2024-2025 school term. Over the past month,
Barfresh has announced over 3,100 new customer school locations,
representing over 2.2 million students, that will be served a range
of the Company’s products either on their breakfast menus or a la
carte menus. With numerous bids in the education channel currently
underway, the Company anticipates announcing a significant number
of new customer wins before the 2024-2025 school year commences.
Riccardo Delle Coste, the Company’s Chief
Executive Officer, stated, “We’re thrilled to announce another wave
of significant new customer acquisitions within the education
channel. This continued success stems from our strategic efforts to
expand national broker coverage, increase production capacity for
our popular carton product, and reintroduce our 100% juice
concentrate offering. The recent addition of a Vice President of
Supply Chain & Co-Manufacturing will be instrumental in
onboarding these latest school wins while ensuring sufficient
product supply and exceptional service levels as we seek to add a
new bottle co-manufacturing partner. These newly secured 542 school
locations will offer students a diverse portfolio of healthy
beverages thoughtfully crafted to meet the unique needs of the
education channel. Securing these accounts showcases the strength
of our sales capabilities, the tremendous appeal of our
better-for-you product portfolio, and reinforces our runway for
continued expansion. Our powerful acquisition pipeline has numerous
bids underway to onboard additional schools as Barfresh customers
ahead of the 2024-2025 school year. This accelerated pace of new
customer acquisitions strategically positions us for record revenue
performance and expanded profit margins in fiscal year 2024.”
About Barfresh Food Group
Barfresh Food Group Inc. (Nasdaq: BRFH) is a
developer, manufacturer and distributor of ready-to-blend and
ready-to-drink beverages, including smoothies, shakes and frappes,
primarily for the education market, foodservice industry and
restaurant chains, delivered as fully prepared individual portions
or single serving and bulk formats for on-site preparation. The
Company’s single serving, on-site prepared product utilizes a
proprietary, patented system that uses portion-controlled
pre-packaged beverage ingredients, delivering a freshly made frozen
beverage that is quick, cost efficient, better for you and without
waste. For more information, please visit www.barfresh.com.
Forward Looking Statements
Except for historical information herein,
matters set forth in this press release are forward-looking,
including statements about the Company’s commercial progress,
success of its strategic relationship(s), and projections of future
financial performance. These forward-looking statements are
identified by the use of words such as “grow”, “expand”,
“anticipate”, “intend”, “estimate”, “believe”, “expect”, “plan”,
“should”, “hypothetical”, “potential”, “forecast” and “project”,
“continue,” “could,” “may,” “predict,” and “will” and variations of
such words and similar expressions are intended to identify such
forward-looking statements. All statements, other than statements
of historical fact, included in the press release that address
activities, events or developments that the Company believes or
anticipates will or may occur in the future are forward-looking
statements. These statements are based on certain assumptions made
based on experience, expected future developments and other factors
the Company believes are appropriate under the circumstances. Such
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may
vary materially from those indicated or anticipated by such
forward-looking statements. Accordingly, you are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date they are made. The contents of this
release should be considered in conjunction with the Company’s
recent filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K, including any warnings, risk
factors and cautionary statements contained therein. Furthermore,
the Company expressly disclaims any current intention to update
publicly any forward-looking statements after the distribution of
this release, whether as a result of new information, future
events, changes in assumptions or otherwise.
Investor RelationsJohn
MillsICR646-277-1254John.Mills@icrinc.com
Deirdre
ThomsonICR646-277-1283Deirdre.Thomson@icrinc.com
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