New Tier-1 Placements Illustrate Continued Food Service and Retail Store Momentum
EAST RUTHERFORD, NJ, Aug. 30, 2022 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (NASDAQ: MMMB), which strives to become the largest marketer and distributor of fresh, clean and easy to prepare foods, today announced that it has secured new customer authorizations representing 6,500 product placements on retailer and convenience store shelves, with shipments to begin in late September and October 2022.
The new retailer commitments secured include Key Foods (330 New York Metro and Florida locations); BJ's Club Stores (230 East Coast locations); Shop Rite (220 Northeast and Mid-Atlantic locations); Meijer (270 Midwest retail locations and 230 convenience store locations); Schnucks Supermarkets (110 Midwest locations); and Dutch Farms, a distributor in the Chicago market (expected to sell MamaMancini’s products into 150 retail and convenience store locations). The new placements are largely expected to begin shipment from late September through October 2022.
Products authorized include an assortment of 14 products from T&L Creative Salads, including paninis, salads, grilled chicken, breaded chicken and wraps; six MamaMancini’s Meals for One variations as well as MamaMancini’s Original Meatballs in a Cup™, meat loaf with tangy sauce and bacon jam meat loaf.
“We have seen strong growth in new authorizations this fall, spurred by improving retailer supply chains as well as our enhanced product innovation and marketing efforts in the food service space,” said Carl Wolf, Chief Executive Officer of MamaMancini’s. “These shipments clearly show the momentum of our new Meals for One and Meatballs in a Cup™ product lines, which can be easily adapted to fit countless recipes – enabling more SKUs per store.
“With additional new authorizations anticipated in the coming months, we believe we are well positioned to achieve our goal of a $100 million annualized sales run rate by fiscal year end. I look forward to continued operational execution in the months ahead as we strive to create sustainable, long-term value for our shareholders,” concluded Wolf.
About MamaMancini’s Holdings, Inc.
MamaMancini's Holdings, Inc. (NASDAQ: MMMB) strives to become the largest marketer and distributor of fresh, clean, easy to prepare foods in North America. MamaMancini’s broad product portfolio consists of meatballs, meatloaf, sausages and pasta bowls with beef, turkey, chicken and pork varieties – as well as an assortment of chicken-based dishes, olives, savory products and salads through its T&L Creative Salads and Olive Branch subsidiaries. The Company owns a 24% interest in Chef Inspirational Foods, an innovative sales and marketing company that specializes in the prepared foods category. The Company’s products are sold in over 45,000 locations nationwide, including at regional delis and well-known retailers such as Sam’s Club, ALDI Markets, Schnuck Markets, Whole Foods, Publix, ShopRite, Stop & Shop, Costco and Albertsons – as well as through national distributors such as Sysco and United Natural Foods. The Company also maintains a direct-to-consumer presence 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, 2022 and other filings made by the Company with the Securities and Exchange Commission.
Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ Group - MZ North America
(949) 259-4987
MMMB@mzgroup.us
www.mzgroup.us
