Company to Review Strategic Alternatives to Realize Enhanced Shareholder Value
EAST RUTHERFORD, NJ, Oct. 05, 2020 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (OTCQB: MMMB), a marketer of specialty pre-prepared, frozen and refrigerated food products, has engaged B. Riley Securities, a full-service investment bank and broker-dealer and subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), to assist in the exploration and evaluation of strategic alternatives for enhancing shareholder value.
These alternatives could include, among others, a sale of the company, a strategic business acquisition, continued execution of the Company’s business plan or some combination of one or more of these possible alternatives.
“Over the past year, we’ve enjoyed great success with record-breaking revenue and net income, firm-wide operational improvements and increased manufacturing plant efficiency,” said Carl Wolf, Chairman and Chief Executive Officer of MamaMancini’s. “That being said, we believe the market valuation of our Company has maintained below that of industry fair value. As our business continues to see robust growth by all metrics, we believe our current market valuation presents the potential for notable upside.
“Given this, we have engaged B. Riley Securities to begin the process of exploring a possible sale of the Company along with other potential strategic alternatives. I have seen notable success in my career in growing and selling successful food brands and believe MamaMancini’s is no different, representing an extremely attractive asset for various industry players given the Company’s vast distribution, widely beloved product portfolio and immense growth potential.
“While there can naturally be no assurances this process will result in a transaction, we believe this path will help achieve our ultimate goal of maximizing value for our shareholders. I look forward to working closely with the B. Riley team to achieve the strategic objectives we have laid out,” concluded Wolf.
About B. Riley Securities
B. Riley Securities provides a full suite of investment banking, corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and recapitalization. B. Riley is nationally recognized and highly ranked for its proprietary small-cap equity research. B. Riley Securities formerly operated as B. Riley FBR following the merger of B. Riley & Co. and FBR & Co. For more information, visit https://brileyfin.com/capabilities/investment-banking-and-capital-markets.
About MamaMancini’s Holdings, Inc.
MamaMancini's Holdings, Inc. (OTCQB: MMMB) is a marketer and distributor of specialty prepared, refrigerated and frozen all-natural Italian foods. MamaMancini’s product portfolio consists of over 20 products including meatballs, meat loaf, chicken parmesan, sausages and pasta bowl kits, with beef, turkey, chicken and pork varieties. The Company’s products are sold in over 45,000 locations nationwide, including at well-known retailers such as Sams Club, Whole Foods, Publix, Costco and Albertsons, as well as through national distributors such as Sysco and United Natural Foods. The Company also regularly maintains a direct-to-consumer presence through presentations on QVC. For more information, please visit www.mamamancinis.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's 10-K for the fiscal year ended January 31, 2019 and other filings made by the Company with the Securities and Exchange Commission
Investor Relations Contact:
Lucas A. Zimmerman
Senior Vice President
MZ Group - MZ North America
(949) 259-4987
MMMB@mzgroup.us
www.mzgroup.us
B. Riley Financial Contact:
Michael Guzman
Senior Managing Director – Investment Banking
B. Riley Securities
(310) 689-2236
mguzman@brileyfin.com