Barfresh Dramatically Expands its Production Capacity by Adding Two New Third Party Locations
08 July 2024 - 10:30PM
Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq:
BRFH), a provider of frozen, ready-to-blend and ready-to-drink
beverages, adds two co-manufacturing locations. These locations are
strategically located in the Mid-West and the East Coast to better
provide a full range of offerings to our rapidly expanding clients
in all Channels. This includes manufacturing for single serve
pouches, 1:1 gallons and 5:1 ½ gallons. In addition, this new
capacity adds 25 million annual bottling units for our highly
successful Twist & Go Products. Overall, the Company now has
the ability to more than double its overall annual unit capacity.
Riccardo Delle Coste, the Company’s Chief
Executive Officer, stated, “These new locations more than double
our overall capacity covering all of our product offerings
including an additional 25 million bottling capacity. We have
recently announced many new significant customer acquisitions
within the education channel and this capacity will enable us to
more than provide for these customers and many more in all
channels. Barfresh is now in a tremendous positioned to
dramatically increase sales in the coming years due to many factors
including the capacity announced today, new members of management
including the Vice President of Supply Chain & Co-Manufacturing
and new Vice President of Sales, new customers in all channels and
new product offerings. The appeal of our better-for-you product
portfolio, combined with our acquisition pipeline of new customers
that also has numerous bids underway to onboard additional schools
as Barfresh customers for the 2024-2025 school year. This
accelerated pace of new customer acquisitions strategically
positions us for record revenue performance and expanded profit
margins in fiscal year 2024 and beyond.”
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 RelationsJohn
MillsICR646-277-1254John.Mills@icrinc.com
Deirdre
ThomsonICR646-277-1283Deirdre.Thomson@icrinc.com
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