Innovative Food Holdings Announces it is Exiting the Cheese Conversion Business, Entering Agreement to Sell Pennsylvania Facility, and Relocating Remaining Profitable Operations to Chicago Facility
Innovative Food Holdings (OTCQB:IVFH), a national gourmet specialty foods seller, announced strategic restructuring plans including: exiting its cheese conversion business, selling its Pennsylvania warehouse, and relocating profitable operations to Chicago. The Pennsylvania facility sale, expected to close by September 30, 2025, will eliminate approximately $9 million in debt.
The company will consolidate its profitable airline and broadline distribution businesses with Artisan Specialty Foods in Chicago, aiming to leverage operational synergies. These strategic moves are projected to improve trailing twelve-month pre-tax income by $2 million.
Innovative Food Holdings (OTCQB:IVFH), un venditore nazionale di alimenti gourmet specializzati, ha annunciato piani di ristrutturazione strategica che includono: l'uscita dal settore della conversione del formaggio, la vendita del magazzino in Pennsylvania e il trasferimento delle operazioni redditizie a Chicago. La vendita della struttura in Pennsylvania, prevista per il 30 settembre 2025, permetterà di eliminare circa 9 milioni di dollari di debiti.
L'azienda consoliderà le sue attività redditizie di distribuzione aerea e broadline con Artisan Specialty Foods a Chicago, con l'obiettivo di sfruttare sinergie operative. Queste mosse strategiche dovrebbero migliorare il reddito ante imposte degli ultimi dodici mesi di circa 2 milioni di dollari.
Innovative Food Holdings (OTCQB:IVFH), un vendedor nacional de alimentos gourmet especializados, anunció planes de reestructuración estratégica que incluyen: salir del negocio de conversión de quesos, vender su almacén en Pensilvania y trasladar las operaciones rentables a Chicago. La venta de la instalación en Pensilvania, que se espera cerrar antes del 30 de septiembre de 2025, eliminará aproximadamente 9 millones de dólares en deuda.
La empresa consolidará sus negocios rentables de distribución aérea y broadline con Artisan Specialty Foods en Chicago, con el objetivo de aprovechar sinergias operativas. Se proyecta que estos movimientos estratégicos mejoren el ingreso antes de impuestos de los últimos doce meses en 2 millones de dólares.
Innovative Food Holdings (OTCQB:IVFH)는 전국적인 고급 특산 식품 판매업체로서, 치즈 가공 사업 철수, 펜실베이니아 창고 매각, 수익성 있는 사업을 시카고로 이전하는 전략적 구조조정 계획을 발표했습니다. 펜실베이니아 시설 매각은 2025년 9월 30일까지 완료될 예정이며, 약 900만 달러의 부채를 해소할 것입니다.
회사는 수익성 있는 항공사 및 광역 유통 사업을 시카고의 Artisan Specialty Foods와 통합하여 운영 시너지를 극대화할 계획입니다. 이러한 전략적 조치는 최근 12개월간 세전 이익을 약 200만 달러 개선할 것으로 예상됩니다.
Innovative Food Holdings (OTCQB:IVFH), un vendeur national de produits alimentaires gourmets spécialisés, a annoncé des plans de restructuration stratégique incluant : la sortie de son activité de transformation de fromages, la vente de son entrepôt en Pennsylvanie, et le transfert de ses opérations rentables à Chicago. La vente de l'installation en Pennsylvanie, prévue pour le 30 septembre 2025, permettra d'éliminer environ 9 millions de dollars de dettes.
L'entreprise consolidera ses activités rentables de distribution aérienne et broadline avec Artisan Specialty Foods à Chicago, dans le but de tirer parti des synergies opérationnelles. Ces mesures stratégiques devraient améliorer le résultat avant impôts des douze derniers mois de 2 millions de dollars.
Innovative Food Holdings (OTCQB:IVFH), ein nationaler Anbieter von Gourmet-Spezialitäten, hat strategische Umstrukturierungspläne angekündigt, die den Ausstieg aus dem Käseverarbeitungsbereich, den Verkauf des Lagers in Pennsylvania und die Verlagerung profitabler Geschäftsbereiche nach Chicago umfassen. Der Verkauf der Einrichtung in Pennsylvania, der bis zum 30. September 2025 abgeschlossen sein soll, wird etwa 9 Millionen US-Dollar Schulden abbauen.
Das Unternehmen wird seine profitablen Geschäftsbereiche für Fluggesellschaften und Broadline-Distribution mit Artisan Specialty Foods in Chicago zusammenlegen, um operative Synergien zu nutzen. Diese strategischen Maßnahmen sollen das vorsteuerliche Ergebnis der letzten zwölf Monate um etwa 2 Millionen US-Dollar verbessern.
- None.
- Discontinuation of cheese conversion business due to insufficient scale and cash flow
- Potential disruption during relocation of operations to Chicago
BROADVIEW, Ill., Aug. 01, 2025 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs, today announced a strategic decision to exit its cheese conversion business, sell its Pennsylvania warehouse, and relocate its remaining profitable operations to Chicago.
IVFH has entered into a definitive agreement to sell its Pennsylvania warehouse. The transaction is expected to close by September 30, 2025 and will eliminate approximately
Following the sale, IVFH will relocate its remaining profitable Pennsylvania operations—primarily its airline and broadline distribution businesses—to its Chicago facility. These operations will be combined with Artisan Specialty Foods, enabling the Company to leverage operational, supplier, and inventory synergies.
The combined effect of these strategic moves (exiting the cheese conversion business, selling the building, and relocating the remaining profitable business to Chicago) would have improved trailing twelve month pre-tax income by approximately
Bill Bennett commented, “While the cheese conversion business showed promise, ultimately we determined it would not quickly enough reach a scale that would generate cash flow. Today’s announcement now allows us to eliminate our largest loan, discontinue an unprofitable segment, and sharpen our focus on the most attractive parts of our business.”
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, including those related to the Company’s growth plans, 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, which include words such as “should,” “could,” “will,” “anticipate,” “believe,” “intend,” “plan,” “might,” “potentially,” “targeting,” “expect,” or similar expressions. Additional factors that could also cause actual results to differ materially relate to current conditions and expected future developments, international crises, environmental and economic issues and other risk factors described in the Company’s public filings. As a result, readers are cautioned not to place undue reliance on these forward-looking statements and should understand that these statements are not guarantees of performance or results and that there are a number of risks, uncertainties and other important factors, many of which are beyond the Company’s control, that could cause the Company’s actual results to differ materially from those expressed in these statements, including, among others: economic factors affecting consumer confidence and discretionary spending; cost inflation/deflation and commodity volatility; competition; reliance on third party suppliers and interruption of product supply or increases in product costs; changes in the Company’s relationships with vendors and customers. The Company does not intend to update these forward-looking statements.
For a detailed discussion of these risks, uncertainties and other factors that could cause the Company’s actual results to differ materially from those anticipated or expressed in any forward-looking statements, see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”). Additional risks and uncertainties are discussed from time to time in current, quarterly and annual reports filed by the Company with the SEC, which are available on the SEC’s website at https://www.sec.gov/.
Investor and Media contact:
Gary Schubert
Chief Financial Officer
Innovative Food Holdings, inc.
investorrelations@ivfh.com
FAQ
When will Innovative Food Holdings (IVFH) complete the sale of its Pennsylvania facility?
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Why is IVFH exiting the cheese conversion business?
What operations will IVFH relocate to its Chicago facility?
