Innovative Food Holdings Announces Expansion of Airline Business With New First-Class Cheese Program
Rhea-AI Summary
Innovative Food Holdings (OTCQB: IVFH) has announced a significant expansion into airline services with a new first-class cheese program for a major international airline. The program, marking IVFH's entry into this business segment, is expected to generate $700K in new incremental revenue in its first year.
The company will supply premium cheeses, including whole wheels and precision-cut 0.75 oz portions, utilizing automated cutting equipment that has doubled volume per labor hour. This initiative follows IVFH's strategic divestment from unprofitable e-commerce operations at their Mountain Top, Pennsylvania warehouse, resulting in doubled revenue and labor productivity.
The program leverages IVFH's specialty foods platform, combining sourcing capabilities, 3PL storage, drop-ship services, and custom cutting solutions. The company continues to participate in multiple airline menu planning cycles, positioning itself for future growth in the airline sector.
Positive
- New $700K incremental revenue stream from airline program
- Doubled volume per labor hour with automated cutting equipment
- Doubled revenue after e-commerce divestment
- Improved operational efficiency through automation
- Strategic expansion into high-growth airline sector
Negative
- Required divestment of unprofitable e-commerce operations
BONITA SPRINGS, Fla., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs, is pleased to announce an expansion of its airline business with a new first-class cheese program for a major international airline. This marks the first time IVFH has entered this line of business, providing precision-cut portions that require no additional handling at airline catering stations, streamlining service while maintaining an uncompromising level of quality. The Company expects this new business line to deliver approximately
Through this new partnership, IVFH will leverage its extensive network of vendors to supply a range of premium cheeses, including whole wheels for catering as well as 0.75 oz cuts made possible by the Company’s automated cutting equipment, which has already more than doubled our volume per labor hour. By leveraging its scale enabled by the recent launch of its new retail business, IVFH is delivering a high-quality product in a labor-efficient format, ensuring a seamless experience from sourcing to onboard service.
“Our ability to bring new solutions to the airline industry reflects the transformation we’ve undergone as a company,” said Bill Bennett, CEO of IVFH. “By streamlining our operations and refocusing on high-growth opportunities, we’ve been able to leverage our specialty foods platform to add new sales channels and diversify our customer base while significantly increasing efficiency. After divesting from unprofitable e-commerce operations in our Mountain Top, Pennsylvania warehouse, we’re now leveraging the same assets, talent, and vendor relationships to build a stronger, more focused business line—one where we’ve doubled both revenue and labor productivity while continuing to expand into strategic foodservice channels. This new airline partnership is a testament to that momentum, as we continue to pursue additional opportunities in this space.”
IVFH’s airline business remains a key growth driver as the Company combines its broad-based sourcing, access to artisanal products, 3PL storage and drop-ship capabilities, and custom cutting and packaging solutions to meet evolving customer needs. The Company continues to participate in multiple airline menu planning cycles, creating opportunities for new item placements and expanded partnerships in the years ahead.
About Innovative Food Holdings, Inc.
At IVFH, we help make meals special. We provide access to foods that are hard to find, have a compelling story, or are on the forefront of food trends. Our gourmet foods marketplace connects the world’s best artisan food makers with top professional chefs nationwide. We curate the assortment, experience, and tech enabled tools that help our professional chefs create unforgettable experiences for their guests. Additional information is available at www.ivfh.com.
Forward-Looking Statements
This release contains certain forward-looking statements and information relating to the Company that are based on the current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, the Company. Such statements reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “should,” “could,” “will,” “anticipate,” “believe,” “intend,” “plan,” “might,” “potentially” “targeting” or “expect.” Additional factors that could also cause actual results to differ materially relate to international crises, environmental and economic issues and other risk factors described in the Company’s public filings. The Company does not intend to update these forward-looking statements. The content of the websites referenced above are not incorporated herein.
Investor and Media contact:
Gary Schubert
Chief Financial Officer
Innovative Food Holdings, Inc.
investorrelations@ivfh.com
FAQ
How much revenue will IVFH's new airline cheese program generate in its first year?
What operational improvements has IVFH achieved with its automated cutting equipment?
What services will IVFH provide in its new airline partnership?
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