Innovative Food Holdings, Inc. Announces Close of the Sale of igourmet.com Business
Innovative Food Holdings, Inc. (OTCQB: IVFH) has announced the sale of its igourmet.com business for $700,000 in cash, with $175,000 due 30 days after closing. The deal also includes the assumption of approximately $350,000 in gift card liabilities. This transaction is part of IVFH's strategic stabilization plan to divest assets that don't align with its more profitable foodservice business.
CEO Bill Bennett stated that the proceeds will be invested in the company's new retailer business, focusing on automating gourmet cheese processing to reduce costs. IVFH aims to leverage its expertise in gourmet cheese within a more profitable sales channel, expecting significant improvements in both top and bottom line performance.
Innovative Food Holdings, Inc. (OTCQB: IVFH) ha annunciato la vendita della sua attività igourmet.com per 700.000 dollari in contante, con 175.000 dollari da versare 30 giorni dopo la conclusione dell'accordo. L'operazione include anche l'assunzione di circa 350.000 dollari in passività legate alle carte regalo. Questa transazione fa parte del piano strategico di stabilizzazione di IVFH per dismettere beni che non si allineano con la sua più redditizia attività di ristorazione.
Il CEO Bill Bennett ha dichiarato che i proventi saranno investiti nella nuova attività di vendita al dettaglio dell'azienda, concentrandosi sull'automazione del processo di produzione del formaggio gourmet per ridurre i costi. IVFH punta a sfruttare la propria esperienza nel formaggio gourmet all'interno di un canale di vendita più redditizio, prevedendo miglioramenti significativi sia nelle entrate che nel risultato netto.
Innovative Food Holdings, Inc. (OTCQB: IVFH) ha anunciado la venta de su negocio igourmet.com por 700,000 dólares en efectivo, con 175,000 dólares a pagar 30 días después del cierre. El acuerdo también incluye la asunción de aproximadamente 350,000 dólares en pasivos de tarjetas de regalo. Esta transacción es parte del plan estratégico de estabilización de IVFH para desinvertir activos que no se alinean con su negocio de servicios de alimentos más rentable.
El CEO Bill Bennett declaró que los ingresos se invertirán en el nuevo negocio minorista de la compañía, centrándose en la automatización del procesamiento de quesos gourmet para reducir costos. IVFH pretende aprovechar su experiencia en quesos gourmet dentro de un canal de ventas más rentable, esperando mejoras significativas tanto en los ingresos como en el resultado final.
Innovative Food Holdings, Inc. (OTCQB: IVFH)는 700,000달러의 현금으로 igourmet.com 사업을 매각한다고 발표했습니다, 거래 완료 후 30일 이내에 175,000달러를 지급해야 합니다. 이번 거래는 약 350,000달러의 기프트 카드 부채를 인수하는 것을 포함합니다. 이 거래는 IVFH가 더 수익성 있는 식음료 사업과 일치하지 않는 자산을 매각하기 위한 전략적 안정화 계획의 일환입니다.
CEO Bill Bennett는 수익금이 회사의 새로운 소매업에 투자될 것이라고 밝혔으며, 비용 절감을 위해 고급 치즈 가공의 자동화에 집중하고 있습니다. IVFH는 더 수익성 있는 판매 채널 내에서 고급 치즈에 대한 전문성을 활용하여 수익과 순이익 모두에서 상당한 향상을 기대하고 있습니다.
Innovative Food Holdings, Inc. (OTCQB: IVFH) a annoncé la vente de son activité igourmet.com pour 700 000 dollars en espèces, avec 175 000 dollars dus 30 jours après la finalisation de l'accord. Cette transaction comprend également l'assumption d'environ 350 000 dollars de passifs liés aux cartes-cadeaux. Cette transaction fait partie du plan stratégique de stabilisation d'IVFH visant à se défaire d'actifs qui ne s'alignent pas avec son activité de restauration plus rentable.
Le PDG Bill Bennett a déclaré que les produits seraient investis dans la nouvelle activité de vente au détail de l'entreprise, en se concentrant sur l'automatisation du traitement des fromages fins pour réduire les coûts. IVFH vise à tirer parti de son expertise en matière de fromage gourmet dans un canal de vente plus rentable, s'attendant à des améliorations significatives tant au niveau du chiffre d'affaires que des bénéfices.
Innovative Food Holdings, Inc. (OTCQB: IVFH) hat den Verkauf ihres Geschäfts igourmet.com für 700.000 Dollar in bar angekündigt, wobei 175.000 Dollar 30 Tage nach Abschluss fällig sind. Der Vertrag beinhaltet auch die Übernahme von etwa 350.000 Dollar an Geschenkkartenverbindlichkeiten. Diese Transaktion ist Teil des strategischen Stabilisierungsplans von IVFH, um Vermögenswerte zu veräußern, die nicht mit dem profitableren Gastronomiebereich des Unternehmens übereinstimmen.
CEO Bill Bennett erklärte, dass die Erträge in das neue Einzelhandelsgeschäft des Unternehmens investiert werden, mit dem Schwerpunkt auf der Automatisierung der Verarbeitungsprozesse für Feinkäse, um die Kosten zu senken. IVFH plant, seine Expertise im Bereich Feinkäse innerhalb eines profitableren Vertriebskanals zu nutzen, mit der Erwartung, signifikante Verbesserungen sowohl bei den Einnahmen als auch beim Nettoergebnis zu erzielen.
- Sale of igourmet.com business for $700,000 in cash
- Buyer assumes approximately $350,000 in gift card liabilities
- Proceeds to be invested in new automated machinery for gourmet cheese processing
- Expected improvements in top and bottom line performance through new retailer business
- Divestment of consumer e-commerce business igourmet.com
BONITA SPRINGS, Fla., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs, announced today the close of a transaction to sell its consumer e-commerce business igourmet.com for
Chief Executive Officer Bill Bennett stated, “With today’s announcement, we mark continued progress against our strategic stabilization plan of selling off assets that are not a fit for our larger scale, more profitable foodservice business, as first discussed in our November 2023 earnings call. The cash for this sale will be used to invest into our new retailer business, as we ramp up working capital and install new automated machinery to cut, wrap, and label our gourmet cheese at a fraction of the cost of our previous manual operation. We’re excited to leverage our expertise and capabilities in gourmet cheese in a significantly more profitable sales channel, and expect to deliver sizable top and bottom line impact for the Company.”
About Innovative Food Holdings, Inc.
At IVFH, we help make meals special. We provide access to foods that are hard to find, have a compelling story, or are on the forefront of food trends. Our gourmet foods marketplace connects the world’s best artisan food makers with top professional chefs nationwide. We curate the assortment, experience, and tech enabled tools that help our professional chefs create unforgettable experiences for their guests. Additional information is available at www.ivfh.com.
Forward-Looking Statements
This release contains certain forward-looking statements and information relating to Innovative Food Holdings, Inc. (the “Company”) that are based on the current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, the Company. Such statements reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “should,” “could,” “will,” “anticipate,” “believe,” “intend,” “plan,” “might,” “potentially” “targeting” or “expect.” Additional factors that could also cause actual results to differ materially relate to international crises, environmental and economic issues and other risk factors described in our public filings. The Company does not intend to update these forward-looking statements. The content of the websites referenced above are not incorporated herein.
Investor and Media contact:
Gary Schubert
Chief Financial Officer
Innovative Food Holdings, inc.
investorrelations@ivfh.com
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