MamaMancini's Holdings, Inc., which strives to become the largest marketer and distributor of fresh, clean, and easy-to-prepare foods, announced that it has secured new customer authorizations, representing over 4000 new spots on the shelves of tier-1 nationwide retailers. The new spots are expected to increase MamaMancini’s sales to its guidance of over $100 million in annualized sales by fiscal year end.
The new retailer commitments secured include a new product placement at BJ’s Club Stores (one item in 230 East Coast locations), Hannaford Food Stores rotation (four new items replacing existing items in 150 New England locations), The Fresh Market (three new items in 150 South, Northeast and Midwest locations), Albertsons Safeway (three new items in 300 locations Northern California and Hawaii), Acme/Safeway Stores Division of Albertsons (three new items in 330 East Coast locations), Shop Rite Stores (one new item in 300 Mid-Atlantic locations), Raley's (five new items in 120 California hot bar locations in testing and not counted in new spots accounting above), Key Foods Cooperative (four new items in 320 Mid Atlantic area and Florida locations), Lowes Stores (four new items in 80 South East Locations), and Food Town Cooperative (six new items in 65 New Jersey locations).
Products ordered range from six varieties of meals for one (or two) to go, beef meatballs in sauce for the deli, four pasta bowls, MamaMancini's branded club store Jumbo Beef Meatballs retail pack, MamaMancini's Branded Meatballs in a Cup, grilled chicken breasts, breaded chicken breasts, balsamic chicken breasts, meat loaf and tangy sauce, and meat loaf and bacon jam sauce.
The new placements are largely expected to begin shipment from August through October 2022. When taken in tandem with several additional new placement wins expected in the coming months, these orders move the Company beyond with its expectation of a $100 million annualized sales run rate by year-end.
“During the first half of 2022 we continued to execute on our growth strategy targeting large, national retailers with our expanded portfolio of products,” said Carl Wolf, chief executive officer of MamaMancini’s. “This set of new shipments represents the success of our newly acquired product portfolio and continued innovation within the core MamaMancini’s product portfolio, which has seen large-scale acceptance across our tier-1 national distribution network.
“As we move into the second half of 2022, we are working to further expand our national footprint, introduce innovative new products and enhance our margin profile—launching MamaMancini’s into the next phase of its growth trajectory,” concluded Wolf.
Source: MamaMancini's
