BranchOut Food Announces Nation’s Largest Retailer Increases Third Contract to Approximately $1M Annually, Triples Original Commitment

Rhea-AI Summary

BranchOut Food (NASDAQ: BOF) has announced an expanded contract with the nation's largest retailer, tripling the original commitment to approximately $1 million annually. The retailer will increase the distribution of BranchOut's private label dried fruit products from 1,400 stores to 3,430 stores starting in 2024. CEO Eric Healy expressed enthusiasm for the growing popularity of their products and emphasized the importance of the private label segment for BranchOut's growth strategy. Additionally, BranchOut has purchased a fourth Radiant Energy Vacuum (REV) machine from EnWave , to be installed in their new facility in Peru, to fulfill increasing product requests from major retailers and brands.

Positive

• Third contract value increased to $1 million annually.
• Retail store count for private label products expanded from 1,400 to 3,430 stores.
• Purchase of a fourth REV machine to meet rising product requests.

Negative

• None.

New private label dried fruit products expected to enter 3,430 stores in 2024

BEND, Ore., June 27, 2024 (GLOBE NEWSWIRE) -- BranchOut Food Inc. (NASDAQ: BOF), a pioneering food technology company and producer of dehydrated fruit and vegetable-based products, today announced that the nation’s largest retailer has increased the store count and overall projected sales of its third contract with BranchOut Food. The new third contract now has a value of approximately $1 million in sales and is three times larger than the retailer’s original projection.

The retailer will offer the private label products in 3,430 stores across the nation, up from an original store count of 1,400.

“We are excited about the rapid pace of adoption and popularity of BranchOut Food’s products, and very pleased to be increasing our private label offering with this large, brand-name retailer,” said Eric Healy, CEO of BranchOut Food. “Private label products are a key segment of our business, and we are actively pursuing opportunities for growth in this segment.”

BranchOut Food recently signed a purchase agreement for a fourth Radiant Energy Vacuum (REV) machine, built by EnWave Corporation (TSX-V: ENW | FSE: E4U). The machine will be installed at BranchOut Food’s new, large-scale facility in Peru and will be used to meet the rising number of new product requests from major retailers and large brands.

About BranchOut Food Inc.

BranchOut Food is an international food-tech company delivering truly great natural snacks and real superfood ingredients enabled by its licensed dehydration technology. The company’s GentleDry Technology is the next generation in dehydration technology, preserving up to 95% of the original nutrition of fresh fruits and vegetables. BranchOut’s technology is protected by more than 17 patents. BranchOut Food is proud to be a leading provider of high-quality dehydrated fruit and vegetable-based products and its commitment to quality and innovation sets it apart as a trusted brand and private label supplier. For more information about BranchOut Food Inc. and its products, please visit www.branchoutfood.com and follow us on LinkedIn and Twitter.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate", "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements with respect to the operations of BranchOut Food, Inc., (the Company) strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

For more information
Jeff Ramson
PCG Advisory
646-863-6893
jramson@pcgadvisory.com

FAQ

What is the value of BranchOut Food's third contract with the nation's largest retailer?

The third contract is valued at approximately $1 million annually.

How many stores will carry BranchOut Food's private label dried fruit products under the new contract?

BranchOut Food's private label dried fruit products will be available in 3,430 stores.

When will the increased store distribution for BranchOut Food's products begin?

The increased distribution is expected to begin in 2024.

Which machine did BranchOut Food purchase to meet the rising product requests?

BranchOut Food purchased a fourth Radiant Energy Vacuum (REV) machine from EnWave

Where will the new REV machine be installed?

The new REV machine will be installed at BranchOut Food's facility in Peru.