Barfresh Enters into Agreement with Largest Regional Sales Broker in the Southeast

Rhea-AI Summary

Barfresh Food Group Inc. announced an agreement with the largest regional sales broker in the Southeast, adding 82 new sales people to represent its product line across various customer segments. This move is expected to significantly boost the company's sales footprint, drive customer momentum, and lead to projected record revenue in fiscal year 2024.

Positive

• Expansion of sales reach in the Southeast region with 82 new sales people representing Barfresh's products across different customer segments.

• Expected acceleration of customer acquisition capabilities and increased sales footprint, driving projected record revenue in fiscal year 2024.

• Inclusion of specialized sales teams with extensive relationships in key markets such as education, healthcare, amusement parks, and quick-serve restaurants, enhancing product penetration.

Negative

• None.

Company Bolsters Prescence in Southeast with Additional 82 New Broker Sales People Representing Barfresh’s Entire Line of Smoothie Products

Move Rapidly Scales Barfresh’s Sales Footprint Amid Accelerating Customer Momentum, Driving Barfresh’s Projected Record Fiscal Year 2024 Revenue and Year Over Year Margin Expansion

LOS ANGELES, May 13, 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, today announced an agreement with the largest regional sales broker in the Southeast. This agreement rapidly accelerates Barfresh’s sales reach and customer acquisition capabilities across the Southeast as the Company will now have access to an additional 82 new sales people. Under the agreement, the sales broker will represent Barfresh’s comprehensive portfolio of products to all its customer segments, including the education channel and foodservice channel across the Southeast region.

Riccardo Delle Coste, the Company’s Chief Executive Officer, stated, “This new partnership exemplifies the significant momentum building within our company. After navigating through supply challenges over the past couple of years, we have turned the corner. The major hurdles and challenges in our supply chain are increasingly behind us. This is a significant milestone that expands our distribution reach across the entire Southeast region. By joining forces we gain an extensive sales team boasting specialized teams with deep-rooted relationships in the K-12 education market, healthcare, recreation, amusement parks, quick serve restaurants and regional chains. Their expertise and customer knowledge ensures our suite of products penetrate all crucial customer segments at scale. Emerging from setbacks faced during the pandemic, this agreement is part of our concerted efforts to re-engage and actively target all customer segments with our complete offerings. This expansion of the Company’s sales broker network, coupled with a growing pipeline of customer wins positions Barfresh to achieve record revenue levels 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 Relations
John Mills
ICR
646-277-1254
John.Mills@icrinc.com

Deirdre Thomson
ICR
646-277-1283
Deirdre.Thomson@icrinc.com

FAQ

How many new sales people will represent Barfresh's products in the Southeast region?

Barfresh will have access to an additional 82 new sales people to represent its products in the Southeast region.

Which customer segments will the sales broker represent Barfresh's products to?

The sales broker will represent Barfresh's products to all customer segments, including the education channel and foodservice channel across the Southeast region.

What is the expected impact of the agreement on Barfresh's revenue?

The agreement is expected to drive record revenue levels for Barfresh in fiscal year 2024 and beyond.