Initial Shipments Will Be Reflected Primarily in Third Quarter 2018 Results
Expects a Significant Additional Increase Beyond 200 Locations in Conjunction with Beginning of Upcoming School Year
BEVERLY HILLS, Calif., June 18, 2018 (GLOBE NEWSWIRE) -- Barfresh Food Group, Inc. (OTCQB:BRFH), a manufacturer of frozen, ready-to-blend beverages, today announced that it has expanded its education program to a total of 200 school locations with the recent addition of 100 new school locations throughout multiple states. Barfresh is offering four all-natural, “no sugar added” products specifically formulated for the education channel to meet USDA guidelines under its Child Nutrition Program, which allows schools to seek reimbursement for meals served.
Barfresh is very well positioned to significantly expand its school locations well beyond 200, and expects to realize many placements in conjunction with the start of the upcoming school year later this summer and fall of 2018. The Company is receiving positive responses from school administrators and believes its enhanced marketing material and systematic approach ensures it is effectively targeting the United States’ nearly 14,000 public school districts, which represent over 98,000 schools. Most of these school contracts have minimum volume requirements, and many have multi-year terms in place.
Riccardo Delle Coste, the Company's CEO, stated, "We have been serving product in this channel for less than a year and have already expanded our reach to 200 locations across multiple states. With over 98,000 locations in this channel, we believe this segment of the market offers our Company many years of strong growth. The Barfresh team has been extremely busy creating awareness for our product line tailored to meet the needs of today’s students. The health and nutrition of today’s student body is an important national focus for administrators and parents alike, and we believe Barfresh has the right solution to meet this need.”
Mr. Delle Coste continued, “We are in the very early stages of penetrating this massive underserved market opportunity and are very well positioned to solve the issue of complexity, efficiency and waste for school foodservice operators, while also offering its student body an on-trend, healthy beverage solution that meets today’s nutritional requirements. We are excited to communicate additional wins within this growing channel.”
About Barfresh Food Group
Barfresh Food Group, Inc. (OTCQB:BRFH) is a developer, manufacturer and distributor of ready-to-blend beverages, including smoothies, shakes and frappes, primarily for restaurant chains and the foodservice industry. The company's proprietary, patented system uses portion-controlled pre-packaged beverage ingredients that deliver freshly made frozen beverages that are quick, cost efficient, better for you and without waste. Barfresh has an exclusive distribution partnership with the leading food distributor in North America. For more information, please visit www.barfresh.com .
Forward Looking Statements
Except for historical information herein, matters set forth in this press release are forward-looking within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements about the Company's commercial progress and future financial performance. These forward-looking statements are identified by the use of words such as "grow", "expand", "anticipate", "intend", "estimate", "believe", "expect", "plan", "should", "hypothetical", "potential", "forecast" and "project", among others. All statements, other than statements of historical fact, included in the press release that address activities, events or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the Company believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company and may not materialize. Investors are cautioned that any such statements are not guarantees of future performance. The contents of this release should be considered in conjunction with the warnings, risk factors and cautionary statements contained in the Company's recent filings with the Securities and Exchange Commission, including its Annual Report on Form 10K and Quarterly Report on Form 10Q. Furthermore, the Company does not intend, and is not obligated, to update publicly any forward-looking statements, except as required by law.
Contact John Mills ICR 646-277-1254 John.Mills@icrinc.com
Jeff Sonnek ICR 646-277-1263 Jeff.Sonnek@icrinc.com
