New Placements Expected to Add $0.7 Million To Q4 2019 Sales
EAST RUTHERFORD, NJ, Nov. 21, 2019 (GLOBE NEWSWIRE) — MamaMancini’s Holdings, Inc. (OTCQB: MMMB), a marketer of specialty pre-prepared, frozen and refrigerated all-natural food products, announced that it will begin selling an array of new items to existing and new retailers starting in the fourth quarter of 2019.
The new authorizations include Sausage n Peppers, four of its innovative new Pasta Bowl product lines for supermarkets, Beef Meatballs and Sauce, Beef Meat Loaf and Several Pasta and Meatball Entrees.
Existing retailers authorizing new placements include several divisions of The Kroger Co. (NYSE: KR), Acme Markets Inc. (a division of Albertsons Companies), BJ’s Wholesale Club (NYSE: BJ), and Maryland based Giant Food Stores (a division of Ahold Delhaize).
New major retailers include Michigan based Busch’s Supermarkets, supplied through Lipari Foods, and Sacramento based Raley’s Supermarkets.
In addition, MamaMancini’s has been authorized for several new items for sale on QVC, the world’s largest direct to consumer marketer.
“Our continued focus on growth with large, national retailers, new product introductions and operational improvements has resulted in increased authorizations,” said Carl Wolf, Chairman and CEO of MamaMancini’s Holdings, Inc. “The total volume increase in new shipments is expected to result in increased sales of approximately $700,000 for the fourth quarter ending January 31, 2020, which we estimate on a preliminary basis will exceed $10 million in sales. Our revenue run-rate and further increases in sales will depend upon successful consumer acceptance of our products as well as proper merchandising by our retailer base, however, we remain optimistic that we have positioned ourselves favorably for continued growth.
“Looking ahead, we are working on a variety of exciting new products for calendar 2020, including additional plant-based protein offerings connected to our recently announced Beyond Meat partnership. We will continue to focus on delivering new products and following fast growing trends in the food industry that engage our customers and drive shareholder value.”
MamaMancini’s Holdings, Inc. (OTCQB: MMMB) is a marketer and distributor of specialty prepared, frozen and refrigerated all-natural Italian foods. MamaMancini’s product portfolio consists of over 20 products including meatballs, meatloaf, chicken parmesan, sausages and pasta dinner kits with beef, turkey, pork and chicken varieties. The Company’s products are sold in over 45,000 locations nationwide, including at well-known retailers such as Walmart, Kroger, Publix, Costco and Albertsons, as well as through national distributors such as Sysco and United Natural Foods. The Company’s products are frequently offered for sale on QVC, the world’s largest direct to consumer marketer. For more information, please visit www.mamamancinis.com.
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, 2019 and other filings made by the Company with the Securities and Exchange Commission.
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