Sadot Group Announces Sale of Superfit Foods
Sadot Group Inc. (NASDAQ:SDOT) has announced the sale of Superfit Foods , a subscription-based meal prep concept in Orange Park, FL. This move is part of Sadot's portfolio optimization plan to focus on its core agri-commodity businesses. CEO Michael Roper stated that this is the first of three restaurant concepts to be sold, marking the company's exit from the restaurant industry.
Additionally, Sadot has refranchised its last company-owned Muscle Maker Grill (MMG) location in Bronx, NY. This action is expected to reduce corporate G&A expenses and generate royalties. The company is actively pursuing the divestiture of the now fully franchised MMG concept and its 39-unit Pokemoto chain.
Sadot Group Inc. (NASDAQ:SDOT) ha annunciato la vendita di Superfit Foods, un concept di preparazione pasti in abbonamento a Orange Park, FL. Questa mossa fa parte del piano di ottimizzazione del portafoglio di Sadot per concentrarsi sulle sue attività principali nel settore delle materie prime agricole. Il CEO Michael Roper ha dichiarato che questa è la prima di tre concept di ristorazione che verranno venduti, segnando l'uscita dell'azienda dall'industria della ristorazione.
Inoltre, Sadot ha ri-franchising l'ultima sede di Muscle Maker Grill (MMG) di proprietà aziendale nel Bronx, NY. Questa azione dovrebbe ridurre le spese generali e amministrative dell'azienda e generare diritti di royalty. L'azienda sta attivamente perseguendo la dismissione del concept MMG ora completamente in franchising e della sua catena Pokemoto di 39 unità.
Sadot Group Inc. (NASDAQ:SDOT) ha anunciado la venta de Superfit Foods, un concepto de preparación de comidas basado en suscripciones en Orange Park, FL. Este movimiento forma parte del plan de optimización de cartera de Sadot para enfocarse en sus negocios principales de materias primas agrícolas. El CEO Michael Roper declaró que este es el primero de tres conceptos de restaurantes que se venderán, marcando la salida de la compañía de la industria de restaurantes.
Además, Sadot ha re-franquiciado su última ubicación de Muscle Maker Grill (MMG) de propiedad de la empresa en el Bronx, NY. Se espera que esta acción reduzca los gastos generales y administrativos corporativos y genere regalías. La compañía busca activamente la desinversión del concepto MMG ahora completamente franquiciado y su cadena de 39 unidades Pokemoto.
Sadot Group Inc. (NASDAQ:SDOT)은 플로리다주 오렌지 파크에 있는 구독 기반 식사 준비 개념인 Superfit Foods의 매각을 발표했습니다. 이 움직임은 Sadot의 포트폴리오 최적화 계획의 일환으로, 핵심 농산물 비즈니스에 집중하기 위한 것입니다. CEO 마이클 로퍼는 이것이 세 개의 레스토랑 개념 중 첫 번째 판매이며, 회사를 레스토랑 산업에서 탈퇴하게 만드는 계기가 될 것이라고 밝혔습니다.
추가로, Sadot은 브롱크스, NY에 있는 회사 소유의 마지막 Muscle Maker Grill (MMG) 지점을 재프랜차이즈했습니다. 이 조치는 기업의 일반 및 관리 비용을 줄이고 로열티를 생성할 것으로 예상됩니다. 이 회사는 현재 완전히 프랜차이즈화된 MMG 개념과 39개 유닛의 Pokemoto 체인 매각을 적극적으로 추진하고 있습니다.
Sadot Group Inc. (NASDAQ:SDOT) a annoncé la vente de Superfit Foods, un concept de préparation de repas basé sur un abonnement à Orange Park, FL. Cette décision fait partie du plan d'optimisation du portefeuille de Sadot, visant à se concentrer sur ses activités principales dans le secteur des matières premières agricoles. Le CEO Michael Roper a déclaré qu'il s'agit de la première de trois concepts de restaurant qui seront vendus, marquant ainsi le retrait de l'entreprise de l'industrie de la restauration.
De plus, Sadot a ré-franchi son dernier site de Muscle Maker Grill (MMG) en propriété dans le Bronx, NY. Cette action devrait réduire les dépenses générales et administratives de l'entreprise et générer des redevances. L'entreprise poursuit activement la cession du concept MMG désormais entièrement franchisé et de sa chaîne Pokemoto de 39 unités.
Die Sadot Group Inc. (NASDAQ:SDOT) hat den Verkauf von Superfit Foods angekündigt, einem abonnementbasierten Konzept zur Zubereitung von Mahlzeiten in Orange Park, FL. Dieser Schritt ist Teil von Sadots Portfolio-Optimierungsplan, der sich auf die Kernaktivitäten im Agrarrohstoffbereich konzentriert. CEO Michael Roper erklärte, dass dies der erste von drei Restaurantkonzepten ist, die verkauft werden, was den Ausstieg des Unternehmens aus der Restaurantbranche markiert.
Zusätzlich hat Sadot seinen letzten firmeneigenen Standort von Muscle Maker Grill (MMG) im Bronx, NY, wieder franchisiert. Es wird erwartet, dass diese Maßnahme die allgemeinen und administrativen Kosten des Unternehmens senkt und Lizenzgebühren generiert. Das Unternehmen verfolgt aktiv die Veräußergung des nun vollständig franchisierten MMG-Konzepts und seiner 39-Einheiten Pokemoto-Kette.
- Sale of Superfit Foods as part of portfolio optimization
- Refranchising of last company-owned Muscle Maker Grill location
- Expected reduction in corporate G&A expenses
- Potential for increased royalties from franchised MMG location
- Strategic focus on core agri-commodity businesses
- Exiting the restaurant business, potentially reducing revenue streams
- Divestiture of multiple restaurant concepts may impact short-term financials
The sale of Superfit Foods marks a strategic shift for Sadot Group, signaling a focus on core competencies in agri-commodity operations. This divestment, along with the refranchising of the last company-owned Muscle Maker Grill location, should improve operational efficiency and reduce corporate G&A expenses.
While specific financial details are not disclosed, the move is likely to streamline operations and potentially improve profitability. The transition to a fully franchised model for MMG could enhance revenue stability through royalties. However, investors should note that the impact on overall revenue might be initially negative as direct restaurant sales are replaced by franchise fees.
The company's plan to divest two more restaurant concepts suggests a complete exit from the restaurant sector, which could significantly alter Sadot's business model and risk profile. Investors should closely monitor future announcements for details on the financial implications of these strategic moves.
Sadot's decision to divest its restaurant assets aligns with broader market trends of companies focusing on core competencies. The move from direct restaurant ownership to a franchise model for Muscle Maker Grill reflects a shift in risk and capital allocation that's becoming increasingly common in the food service industry.
The company's pivot towards agri-commodity operations suggests a strategic bet on the global food supply chain. This could position Sadot to capitalize on increasing demand for food security and sustainable agriculture practices. However, it also exposes the company to different market dynamics and risks, including commodity price volatility and geopolitical factors affecting trade.
Investors should consider how this transformation might affect Sadot's competitive position and growth prospects in its new focus areas. The success of this strategy will largely depend on the company's ability to leverage its expertise in the agri-commodity sector and navigate the complexities of global food supply chains.
FORT WORTH, TX / ACCESSWIRE / August 6, 2024 / Sadot Group Inc. (NASDAQ:SDOT) ("Sadot" or the "Company") today announced the sale of one of its restaurant assets, Superfit Foods LLC, a subscription-based meal prep concept located in Orange Park, FL, servicing the Jacksonville market.
Michael Roper, CEO of Sadot Group, stated, "We are pleased to announce the sale of Superfit Foods LLC, an important step in our portfolio optimization plan to focus on our strategically advantaged businesses of agri-commodity origination, trading, shipping, and farming. This transaction is the first of three restaurant concepts to be sold from our portfolio and is the first step in our plan to exit the restaurant business. We expect that the divestment of these non-core assets will drive operational savings and simplification along with ensuring our resources are firmly aligned around the highest potential opportunities."
Additionally, as part of the optimization plan, Sadot announced that it has refranchised its final company-owned Muscle Maker Grill (MMG) location in Bronx, NY, thereby lowering corporate G&A expenses and generating royalties for the restaurant division. As a result, the MMG restaurant concept, being a fully franchised concept, is now positioned to potentially attract a wider audience base of interested parties. The Company continues to pursue the divestiture of Muscle Maker Grill along with its 39-unit Pokemoto chain.
About Sadot Group Inc.
Sadot Group Inc. has rapidly established itself as an emerging player in the global food supply chain. Sadot Group provides innovative and sustainable supply chain solutions that address the world's growing food security challenges.
Sadot Group currently operates within key verticals of the global food supply chain including global agri-commodity origination and trading operations for food/feed products such as soybean meal, wheat and corn, and farm operations producing grains and tree crops in Southern Africa.
Sadot Group connects producers and consumers across the globe, sourcing agri-commodity products from producing geographies such as the Americas, Africa and the Black Sea and delivering to markets in Central and South America, Southeast Asia, China and the Middle East/North Africa region.
Sadot Group is headquartered in Ft. Worth, Texas with subsidiary operations in Miami, Dubai, Curitiba (Brazil), Singapore, Kyiv, Toronto and Zambia. For more information, please visit www.sadotgroupinc.com.
For additional updates, news and general knowledge related to the global Agri-commodity supply-chain, please visit our website at: www.sadotgroupinc.com and our social media postings on Facebook and X (Twitter).
Forward-Looking Statements
This press release may include "forward-looking statements" pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products, or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as "should", "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," and "proposes." Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Sadot Group, Inc., does not undertake any duty to update any forward-looking statements except as may be required by law.
Investor Relations:
Frank Pogubila
SVP, Integrous Communications
W - 951.946.5288
E - IR@sadotco.com
SOURCE: Sadot Group Inc.
View the original press release on accesswire.com
FAQ
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