Barfresh Expands Annual Production Capacity by Additional 50 million Units with New Third Party Location with Ability for Further Future Expansion
31 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, today announced a new co-manufacturing location. This
new location will primarily be dedicated to manufacturing the
Company’s recently launched Pop & Go™ Freeze Pops, as well as
some of its other offerings. In addition, this new capacity adds 50
million units annually with the ability for further expansion at
this facility in the future. Overall, the Company now has the
ability to produce over 120 million units annually of its full
range of offerings in all channels.
Riccardo Delle Coste, the Company’s Chief
Executive Officer, stated, “In the last month we have added three
new third-party locations, thereby growing our manufacturing
capacity to over 120 million units annually in order to meet
current demand and position ourselves for future success. This
latest location will be instrumental in producing our innovative
new Pop & Go™ freeze pops, which we believe has tremendous
potential in the education channel. The scalability of this new
location aligns perfectly with our projected customer acquisition
growth. These three key partners are part of our strategic
initiative to strengthen and diversify our manufacturing footprint.
This approach not only positions us for rapid expansion but also
mitigates risks by reducing reliance on any single location,
significantly enhancing our operational resilience and
scalability.”
“From adding key hires to increasing customer
acquisition and extending our product portfolio, we’ve methodically
built a robust foundation for significant revenue expansion. These
manufacturing partners complete our strategic preparations,
enabling us to meet growing demand in our key education sales
channel, while also expanding into other foodservice and retail
channels, setting the stage for accelerated growth across multiple
customer segments.”
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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