Deals could occur with Albertsons/Safeway, Walmart,
Costco, Sam's Club, Kroger,and other major regional retail chains
for up to 27,000-32,000 new spots on supermarket
and club store shelves by Summer and Fall of 2018
EAST RUTHERFORD, NJ, April 19, 2018 (GLOBE NEWSWIRE) -- MamaMancini’s Holdings Inc. (OTCQB: MMMB), a marketer of specialty prepared, frozen and refrigerated, all-natural food products (as defined by the United States Department of Agriculture), today announced that Carl Wolf, Chairman and Chief Executive Officer of MamaMancini’s, was interviewed on The RedChip Money Report television program. The interview will air Sunday, April 22, 2018 at 12:30 p.m. EDT on the Fox Business Channel, available in 100 million homes across the United States.
The RedChip Money Report delivers insightful commentary on small-cap investing, interviews with Wall Street analysts, financial book reviews, as well as featured interviews with executives of public companies. The show is hosted by Dave Gentry, a leading authority on small-cap stocks and the author of Small Stocks, Big Money, published by Wiley.
To view the interview segment, please visit https://youtu.be/wpbD3cQn66g.
In the interview Mr. Wolf stated that the Company is in active negotiations with national retailers for major new authorizations of its products. These include Albertsons/Safeway, Walmart, Costco (divisions), Sam's Club, and Krogers. (divisions). First delivery would begin in June through the early fall. The Company is also in active negotiations with large regional retailers such as HEB (Texas and Southwest), Publix (Southeastern U.S.), Rouse’s (Louisiana region), Hannaford (New England), and HyVee (Midwest) for new items for delivery this summer
Mr. Wolf commented, “If our discussions are successful, the added locations on supermarket and club store shelves would increase locations from 43,000 as of October 31, 2017 to 70,000-75,000 by this fall, a potential 63% - 74% increase. If this occurs, we believe we could meet our goal of a $50 million sales run rate and an estimated EBITDA run rate in excess of $8 million at that time.
“Going forward, we believe we can reach a volume of $300 million within a reasonable period of time thereafter and an estimated EBITDA of $50+ million. This is partially the result of product expansion from regular, and stuffed, meatballs to meatloaf; stuffed pepper mix; chicken parmesan; ravioli lasagna; Italian sausage and sauce; Sunday dinner combo of meatballs and sausage; and to a limited extent retail packaged sauces and vegetarian meatballs. The Company expects to add new food entree items in the future.”
Management believes that the added volume in future years is also a result of entering new markets such as food service and convenience stores - which the Company believes are as big a market as food retailers, Canada and export, and industrial sales to other customers who will use MamaMancini's products as an element of their own products.
About MamaMancini's
MamaMancini's is a marketer and distributor of a line of beef meatballs and turkey meatballs, all with sauce; five cheese-stuffed beef and turkey meatballs, all with sauce; original beef and turkey meatloaves; chicken parmesan; stuffed peppers; and other similar Italian cuisine products. The Company's sales have been growing on a consistent basis as the Company expands its distribution channel, which includes major retailers and distributors such as Costco, Publix, Shop Rite, Jewel, Save Mart, Sam's Club, Lucky's, Lunds and Byerlys, SuperValu, Safeway, Albertsons, Spartan Nash, Whole Foods Market, Hy-Vee, Shaw's, Kings, Roche Bros., Key Foods, Stop & Shop, Giant, Giant Eagle, Foodtown, Kroger, Shoppers, Schnucks Markets, Fresh Direct, King Kullen, Lowes, Central Market, Weis Markets, Ingles, Food City, The Fresh Market, Market Basket, Meatball Obsession, Monterrey Provisions, Porky Products, Sysco, DPI, United Natural Foods, Bozzutos, Burris Foods, and C&S. The Company sells a variety of its products on air and online on QVC, the world's largest direct-to-consumer marketer.
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 filings with the Securities and Exchange Commission.