MamaMancini’s Secures Convenience Store Market Test for Branded Meatballs in a Cup and Meals for One with Tier-1 National Food Service Distributor
MamaMancini's Holdings, Inc. (NASDAQ: MMMB) has announced a significant market test with H.T. Hackney Company to distribute its Meatballs in a Cup and Meals for One in 47 select convenience store locations. This collaboration targets the expansive food service market, which includes 300,000 potential locations across the Eastern United States. The products are set for shipping in September 2022, and success in this test could lead to broader distribution, enhancing MamaMancini's position in the growing food service sector.
- Secured market test with H.T. Hackney could expand distribution to over 20,000 retail locations.
- Opportunity to penetrate a food service market estimated at 300,000 locations.
- Focus on fresh, easy-to-prepare food aligns with consumer trends.
- None.
Successful Market Test with H.T. Hackney, Which Services Over 20,000 East Coast Retail Locations, Presents Significant Food Service Opportunity in Market Spanning 300,000 Locations Nationwide
EAST RUTHERFORD, NJ, Aug. 04, 2022 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (NASDAQ: MMMB), which strives to become the largest marketer and distributor of fresh, clean and easy to prepare foods, today announced that it has secured a market test with H.T. Hackney Company (“Hackney”), one of the largest wholesale distributors in the United States, for branded MamaMancini’s The Original Meatballs in a Cup™ (“Meatballs in a Cup”) and four branded Meals for One products in 47 select locations.
H.T. Hackney services over 20,000 retail locations and stocks over 30,000 products with strategically located distribution centers, creating a 22-state distribution network in the Eastern United States. Retailers serviced by Hackney include convenience stores, drug stores, travel centers and small grocery stores. For over 100 years, Hackney has made it their business to provide customers with everything they need from one reliable source.
The market test will include Meatballs in a Cup as well as four ready to heat Meals for One at 47 “Twice Daily” convenience stores in Tennessee, which focuses on fresh quality food and beverage products. The new test placements are expected to begin shipping in September 2022.
“Distribution with Hackney’s family of retail food service partners is a highly promising milestone in MamaMancini’s growing food service vertical,” said Carl Wolf, Chief Executive Officer of MamaMancini’s. “With over 20,000 locations, a successful test could position us for placement in thousands of Hackney’s customer locations throughout the Eastern United States.
“We hope this order represents our initial foothold into the estimated 300,000 convenience store, small grocer retailer, delicatessen, sandwich shop and comparable retail outlet market. The market size in food service is significant, with the aforementioned figure not including opportunities in other aspects of food service such as colleges and universities, corporate dining, travel hubs, stadiums, large group meetings and fast food. We believe we can expand our food service products, such as our branded Meatballs in a Cup and Meals for One into traditional supermarket chains and club stores as well, with grab-n-go food offerings increasing in popularity.
“We are highly focused on expanding our product line in the food service vertical to complement our significant nationwide presence in tier-1 nationwide retailers, which could potentially represent a doubling of our total addressable market. Combined with our growth strategy targeting large, national retailers with our expanded portfolio of products, we believe food service represents the next large growth opportunity to scale our nationwide footprint as we continue to build sustainable, long-term value for our shareholders,” concluded Wolf.
About MamaMancini’s Holdings, Inc.
MamaMancini's Holdings, Inc. (NASDAQ: MMMB) strives to become the largest marketer and distributor of fresh, clean, easy to prepare foods in North America. MamaMancini’s broad product portfolio consists of meatballs, meatloaf, sausages and pasta bowls with beef, turkey, chicken and pork varieties – as well as an assortment of chicken-based dishes, olives, savory products and salads through its T&L Creative Salads and Olive Branch subsidiaries. The Company owns a
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's 10-K for the fiscal year ended January 31, 2022 and other filings made by the Company with the Securities and Exchange Commission.
Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ Group - MZ North America
(949) 259-4987
MMMB@mzgroup.us
www.mzgroup.us
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