Innovative Food Holdings, Inc. Announces Sale of igourmet.com Business
Innovative Food Holdings, Inc. (OTCQB: IVFH) has announced the sale of its consumer e-commerce business igourmet.com for $700,000. The transaction is expected to close within 30 days, excluding the company's Pennsylvania facility. This move aligns with IVFH's strategic stabilization plan, first discussed in November 2023, to divest unproductive assets and focus on its profitable foodservice business.
CEO Bill Bennett stated that the proceeds from the sale will support the company's anticipated M&A strategy and investment in new growth initiatives for their foodservice operations. The company aims to further develop its core, profitable Professional Chef business. Sampford Advisors, Inc. and Erben M&A Advisors acted as sell-side advisors for the transaction.
Innovative Food Holdings, Inc. (OTCQB: IVFH) ha annunciato la vendita della sua attività di e-commerce per consumatori igourmet.com per $700.000. Si prevede che la transazione si chiuda entro 30 giorni, escludendo lo stabilimento dell'azienda in Pennsylvania. Questa mossa si allinea con il piano di stabilizzazione strategica di IVFH, discusso per la prima volta a novembre 2023, per dismettere asset non produttivi e concentrarsi sulla sua attività di ristorazione redditizia.
Il CEO Bill Bennett ha dichiarato che i proventi della vendita supporteranno la strategia di M&A prevista dall'azienda e gli investimenti in nuove iniziative di crescita per le loro operazioni di ristorazione. L'azienda mira a sviluppare ulteriormente il suo business principale, redditizio, dedicato ai cuochi professionisti. Sampford Advisors, Inc. ed Erben M&A Advisors hanno agito come consulenti per il lato vendite della transazione.
Innovative Food Holdings, Inc. (OTCQB: IVFH) ha anunciado la venta de su negocio de comercio electrónico para consumidores igourmet.com por $700,000. Se espera que la transacción se cierre dentro de 30 días, excluyendo la instalación de la empresa en Pennsylvania. Este movimiento está alineado con el plan estratégico de estabilización de IVFH, discutido por primera vez en noviembre de 2023, para deshacerse de activos no productivos y centrarse en su negocio de servicios de alimentación rentable.
El CEO Bill Bennett declaró que los ingresos de la venta apoyarán la estrategia de M&A anticipada de la empresa e invertirán en nuevas iniciativas de crecimiento para sus operaciones de servicios de alimentación. La empresa tiene como objetivo desarrollar aún más su negocio principal y rentable dedicado a los chefs profesionales. Sampford Advisors, Inc. y Erben M&A Advisors actuaron como asesores de venta para la transacción.
Innovative Food Holdings, Inc. (OTCQB: IVFH)는 소비자 전자상거래 사업 igourmet.com의 판매를 $700,000에 발표했습니다. 이 거래는 펜실베이니아에 있는 회사 시설을 제외하고 30일 이내에 마감될 것으로 예상됩니다. 이 조치는 2023년 11월에 처음 논의된 IVFH의 전략적 안정화 계획과 일치하며, 비생산 자산을 매각하고 수익성 있는 식품 서비스 사업에 집중하는 것을 목표로 하고 있습니다.
CEO 빌 베넷(Bill Bennett)은 판매 수익이 회사의 예정된 M&A 전략과 식품 서비스 운영을 위한 새로운 성장 이니셔티브에 대한 투자에 도움이 될 것이라고 밝혔습니다. 회사는 전문 셰프 사업의 핵심, 수익성 있는 분야를 더욱 발전시키는 것을 목표로 하고 있습니다. 샘포드 어드바이저스(Sampford Advisors, Inc.)와 어번 M&A 어드바이저스(Erben M&A Advisors)는 거래의 매도 측 자문으로 활동했습니다.
Innovative Food Holdings, Inc. (OTCQB: IVFH) a annoncé la vente de son activité de commerce électronique pour consommateurs igourmet.com pour 700 000 $. La transaction devrait être finalisée dans les 30 jours, à l'exclusion de l'établissement de l'entreprise en Pennsylvanie. Ce mouvement s'inscrit dans le cadre du plan de stabilisation stratégique d'IVFH, discuté pour la première fois en novembre 2023, visant à céder des actifs non productifs et à se concentrer sur son activité de services alimentaires rentable.
Le PDG Bill Bennett a déclaré que les recettes de la vente soutiendraient la stratégie M&A prévue de l'entreprise et l'investissement dans de nouvelles initiatives de croissance pour leurs opérations de services alimentaires. L'entreprise vise à développer davantage ses activités principales et rentables liées aux chefs professionnels. Sampford Advisors, Inc. et Erben M&A Advisors ont agi en tant que conseillers du côté vendeur de la transaction.
Innovative Food Holdings, Inc. (OTCQB: IVFH) hat den Verkauf ihres Verbraucher-E-Commerce-Geschäfts igourmet.com für 700.000 $ bekannt gegeben. Es wird erwartet, dass die Transaktion innerhalb von 30 Tagen abgeschlossen wird, wobei die Einrichtung des Unternehmens in Pennsylvania ausgeschlossen ist. Dieser Schritt steht im Einklang mit dem strategischen Stabilisierungsplan von IVFH, der erstmals im November 2023 diskutiert wurde, um unproduktive Vermögenswerte abzubauen und sich auf das profitable Gastronomiebusiness zu konzentrieren.
CEO Bill Bennett erklärte, dass die Erlöse aus dem Verkauf die geplante M&A-Strategie des Unternehmens unterstützen und in neue Wachstumsinitiativen für die Gastronomiebetriebe investieren werden. Das Unternehmen strebt an, sein kerngeschäft, das rentable professionelle Chefgeschäft, weiterzuentwickeln. Sampford Advisors, Inc. und Erben M&A Advisors fungierten als Verkaufsberater für die Transaktion.
- Sale of igourmet.com for $700,000, providing additional cash for the company
- Alignment with strategic plan to focus on profitable foodservice business
- Potential for M&A activities and new growth initiatives in core business
- Divestment of a business unit, potentially reducing overall revenue streams
BONITA SPRINGS, Fla., Aug. 08, 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 signing of an agreement to sell its consumer e-commerce business igourmet.com for
Chief Executive Officer (“CEO”) Bill Bennett stated, “With today’s announcement, we mark continued progress against our strategic stabilization plan of selling off unproductive assets and redirecting resources and focus to our profitable foodservice business, as first discussed in our November 2023 earnings call. The cash for this sale will be used to support our anticipated M&A strategy, as well as investment into new growth initiatives in our foodservice business. We look forward to continuing to further develop our core, profitable Professional Chef business.”
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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