BranchOut Food Expands Relationship with Nation’s Largest Retailer, Valued at an estimated $7.6M Annually
13 February 2024 - 12:00AM
BranchOut Food Inc. (NASDAQ: BOF), a pioneering food technology
company and producer of dehydrated fruit and vegetable-based
products, today announced that it has expanded its relationship
with the nation’s largest retailer. The new agreement is valued at
an estimated $7.6 million annually.
BranchOut has renewed its contract with the
retailer for two products and entered into a new contract for two
additional products.
The company received a 12-month contract
extension for two dried fruit private label items that were first
supplied in 2023. The Company expects improved margins on these
items from the renewed contract that is valued at an estimated $5.2
million on an annual basis.
The new contract is for two additional dried
vegetable private label items. The order for approximately 3,300
stores is about 50% larger than initially expected and is valued at
an estimated $2.6 million on an annual basis. Shipments are
scheduled to begin in May 2024. This relationship expansion
validates the uniqueness of the Company’s proprietary GentleDry
technology that delivers products that excel in flavor, color and
nutrition, while also providing an exceptional taste
experience.
Eric Healy, CEO of BranchOut Foods, said, “We’re
gratified that the first run of our products in the stores of the
nation’s largest retailer has resulted in this contract extension.
We’re especially excited to have received a new contract for two
additional products, and for more stores than initially expected.
Our private label business is an important growth engine for
BranchOut, and these contracts with the nation’s largest retailer
are just the tip of the potential that we see for this business
segment.”
About BranchOut Food Inc.
BranchOut Food is an international food-tech
company delivering truly great natural snacks and real superfood
ingredients enabled by its licensed dehydration technology. The
company’s GentleDry Technology is the next generation in
dehydration technology, preserving up to 95% of the original
nutrition of fresh fruits and vegetables. BranchOut’s technology is
protected by more than 17 patents. BranchOut Food is proud to be a
leading provider of high-quality dehydrated fruit and
vegetable-based products and its commitment to quality and
innovation sets it apart as a trusted brand and private label
supplier. For more information about BranchOut Food Inc. and its
products, please visit www.branchoutfood.com and follow
us on LinkedIn and Twitter.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements relate to
expectations or forecasts of future events. Forward-looking
statements may be identified using words such as "forecast,"
"intend," "seek," "target," "anticipate," "believe," "expect,"
"estimate", "plan," "outlook," and "project" and other similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters. Forward-looking
statements with respect to the operations of BranchOut Food, Inc.,
(the Company) strategies, prospects and other aspects of the
business of the Company are based on current expectations that are
subject to known and unknown risks and uncertainties, which could
cause actual results or outcomes to differ materially from
expectations expressed or implied by such forward-looking
statements. You are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Although it may voluntarily do so from time to time, the Company
undertakes no commitment to update or revise the forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable securities laws.
For more informationJeff RamsonPCG
Advisory646-863-6893jramson@pcgadvisory.com
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