MamaMancini’s Secures New Authorizations at Tier-1 National Supermarkets and Club Stores
MamaMancini's Holdings, Inc. (NASDAQ: MMMB) announced significant retail expansion, including product placements in 600 Sam's Clubs and new authorizations at 1,000 Albertsons and Safeway locations starting in April. Additionally, the company is testing a Panini Sandwich in 200 Sam’s Club Kitchen locations and expanding distribution to 1,000 ALDI Markets. CEO Carl Wolf indicated optimism for robust sales growth and normalizing margins in 2022 despite record-high protein costs. The company also secured new product placements with a European airline.
- Expansion of product offerings into 600 Sam's Clubs and 1,000 Albertsons and Safeway locations, indicating strong market penetration.
- Successful market test authorization for a new Panini Sandwich at 200 Sam’s Club Kitchen locations.
- 60% increase in distribution footprint with ALDI Markets, growing to 1,000 locations.
- New rotational placements with a European airline, enhancing brand visibility.
- Record high protein prices have affected profit margins, posing a risk to profitability.
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EAST RUTHERFORD, NJ, March 08, 2022 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (NASDAQ: MMMB), a marketer and distributor of specialty pre-prepared all-natural foods, today announced new authorizations and shipments of products into tier-1 national and regional food retailers, club stores and a distributor to a major European airline carrier.
MamaMancini’s will commence a major rotation joint merchandising program with all 600 Sam's Clubs for its branded 3# Jumbo Meatballs beginning in early April. The Company has also received authorization for a market test of a Panini Sandwich from the Company’s T&L Creative Salads division at 200 select Sam’s Club Kitchen locations nationally.
Major supermarket authorizations include one new item authorized at 1,000 Albertsons and Safeway locations starting in April, and 10 new items authorized at 111 Schnucks Supermarkets in March. The Company’s Olive Branch division has notably expanded its distribution footprint with ALDI Markets by
“We continued to scale our national network of tier-1 retailer and club store accounts in the first quarter, including the notable addition of T&L Creative Salads products into existing relationships at Sam’s Club,” said Carl Wolf, Chairman and CEO of MamaMancini’s Holdings, Inc. “This demonstrates the ability to push complementary products through the combined national network. In addition, we secured an exciting new rotational placement with a major European airline carrier for a dinner to be served in-flight – changing the age-old adage about airline food.
“In the months ahead we will continue to push new products through the combined national distribution network, both from our MamaMancini’s classic line as well as through acquired companies. This positions us for an acceleration of robust sales growth starting in the first quarter of this fiscal year.
“While record high protein prices have certainly affected margins over the last year, we are hopeful that margins will normalize in 2022 as higher prices are passed on to retailers and there is expectations that commodity costs will back off some from these levels. Considering our potential for sales growth and normalized margins, we believe that we can create sustainable value for our valued shareholders,” concluded Wolf.
About MamaMancini’s Holdings, Inc.
MamaMancini's Holdings, Inc. (NASDAQ: MMMB) is a marketer and distributor of specialty pre-prepared, all-natural foods. 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’s products are sold in over 45,000 locations nationwide, including at regional delis and well-known retailers such as Sam’s Club, ALDI Markets, Schnuck Markets, Whole Foods, Publix, ShopRite, Stop & Shop, Costco and Albertsons – as well as through national distributors such as Sysco and United Natural Foods. The Company also maintains a direct-to-consumer presence on QVC and through Amazon Fresh. For more information, please visit www.mamamancinis.com.
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, 2021 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
FAQ
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