BlueFire Equipment, Corp. (BLFR), Enters into a Managing Partner and Profit Sharing Operating Joint-Venture With One of Florida’s Largest Family Owned Produce Wholesaler
Rhea-AI Summary
BlueFire Equipment, Corp. (OTC: BLFR) has entered a profit-sharing Joint-Venture with Gulfstream Tomato Packers, Ltd. This collaboration enables BLFR to leverage Gulfstream's extensive resources, including a 55,600 sq. ft. facility and established relationships with major clients. The venture aims for a 50/50 split of net profits, which are expected to surpass Gulfstream's previous annual revenue of $18 million. CEO Nickolas Tabraue expressed confidence in increased revenue and profits, emphasizing the strategic partnership's operational advantages.
Positive
- Joint-Venture established with Gulfstream Tomato Packers to enhance operational capabilities.
- Access to Gulfstream's 55,600 sq. ft. facility and existing client relationships.
- Expected 50/50 profit split aims to exceed prior $18 million annual revenue.
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Homestead, FL., Oct. 11, 2022 (GLOBE NEWSWIRE) -- BlueFire Equipment, Corp. (OTC: BLFR) (“BLFR” or “the Company”), a company specializing in emerging industries acquisitions with an emphasis in the business of agriculture, enters into a profit sharing Joint-Venture (“JV”) with Gulfstream Tomato Packers, Ltd. (“the Partner”), utilizing its sister Company Hialeah Tomatoes and Fresh Produce, Inc. shortly after acquiring Miracle Life Farm, LLC. on September 15, 2022.
The joint-venture allows the company to utilize its partner's 55,600 sq. ft. facility, equipment, employees, trucks, and certifications. Located in Homestead, Fl in the heart of local farmers and minutes aways from Miracle Life Farm, LLC.'s farm. The facility is composed of loading docks, refrigeration units, ripening rooms, storage, manufacturing, packaging and office space. The aforementioned certifications include but are not limited to Florida Department of Health, USDA, FDA, Primus GFS, HACCP, and USDA Organic. Currently facilitating accounts such as Associated Grocers of Florida, United Natural Foods, Sysco, Sedanos and Supervlu to name a few, the Company looks to strengthen the Partner’s current relationships while opening new accounts and expanding internationally through its network.
The Company and the Partner will operate under the Company’s new wholly owned subsidiary, Tropiky, Corp. focused on wholesaling, manufacturing, packing, storage and distributing agriculture goods. The Company will receive a 50/50 Net Profit split (monies made after COGs and operational expense) generated through Tropiky, Corp. in a monthly basis through generated reports following GAAP guidelines.
The Partner at its prime generated over
Nickolas S. Tabraue, BLFR’s CEO, interim CFO & Director comments with, “I am excited to share our accelerated growth shortly after our acquisition of Miracle Life Farm, LLC. Through this joint venture not only do we receive additional revenue and profit, but we can now manufacture, refrigerate, ripen, depot, distribute and utilize all wholesaling agriculture permits at no cost.” Tabraue ends with, “We are positioned to work jointly with all the local and international farmers to pack, manufacture, store, wholesale and distribute their produce throughout our retail network overall leading to greater revenue and profit. I look forward on sharing updates as we progress.”
About Gulfstream Tomato Packers, Ltd.
Gulfstream Tomato Packers, Ltd. was founded in 1989. The Company's line of business includes providing farming services such as crop harvesting and packaging.
For more information visit: https://www.gulfstreamtomato.com
Hialeah Tomatoes and Fresh Produce, Inc.
Hialeah Tomatoes & Fresh Produce is a family owned and operated business. Operating since 1997 being the leader of Produce distribution in South Florida. Its focus is to deliver top quality products and superior service. The business grew and has been serving hotels, restaurants, schools, hospitals and well know Supermarket companies like Sedano's Supermarket. Our warehouse is located in Miami, Florida. Produce is purchased from local farmers and grower from across the United States and from across the world with daily shipments to ensure customers get the freshest produce.
For more information visit: https://www.hialeahtomatoes.com/
About BlueFire Technology, Corp. (BLFR)
BLFR is specialized in emerging industries acquisitions with an emphasis in the business of agriculture. BLFR is primary focused on its wholly owned, Miracle Life Farm, LLC., Tropiky, Corp. and partnered farms focused on growing exotic produce under the USDA and wholesale, storage, manufacture, pack and distribute produce.
For more information visit: https://miraclelifefarm.com
SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company’s expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange — including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will” and other similar expressions — are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company’s control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company’s revenues, financial condition or stock price.
Company Contact:
Nickolas S. Tabraue
21150 SW 167th Ave
Miami, FL. 33187
info@BLFR.info
786.375.7281
