Company Secures Seven Co-Operatives to Serve Barfresh Twist & Go Smoothies on the Breakfast Menu in Over 2,200 New Schools to Approximately 1.5 Million Students for Fall
Company Projects to Achieve Highest Annual Revenue in Fiscal Year 2024 and Year-over-Year Margin Improvement Amid Bottling Recovery Efforts, Propelled by Accelerated Customer Wins
Company Expects Confirmation from Many Additional New School Bids Expected to be Won in the Next Few Months to Begin this Fall
LOS ANGELES, April 26, 2024 (GLOBE NEWSWIRE) -- Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq: BRFH), a provider of frozen, ready-to-blend and ready-to-drink beverages, has continued to expand its presence within the education channel and announced today a number of recent large wins within the education channel. The Company recently secured seven school co-operatives, serving over 2,200 school locations and approximately 1.5 million students. These new school locations will serve a variety of the Company’s products, including its carton and bottle smoothie products, 5:1 100% juice concentrates and 1:1 bulk easy pour smoothie concentrates.
Riccardo Delle Coste, the Company’s Chief Executive Officer, stated, “We are thrilled to announce a number of significant new customer wins within our education channel. This success is driven by our strategic initiatives to expand our national sales broker coverage, increase production capacity for our in-demand carton product and the re-introduction of our 100% juice concentrates. These new 2,200 school locations will offer a variety of our products, cementing how important it is for us to offer a diverse lineup of quality, nutritious products to fit the varying needs across the education channel. We are excited to expand our product line with upcoming new smoothie offerings, including a new Tropical Smoothie flavor for Twist & Go, which we expect to release in the fall of this year. Our ability to land these important new accounts underscores the strength of our sales network, the appeal of our products and the bright future ahead as we continue executing on our growth plans.”
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 Relations
John Mills
ICR
646-277-1254
John.Mills@icrinc.com
Deirdre Thomson
ICR
646-277-1283
Deirdre.Thomson@icrinc.com
