Barfresh Announces Major Sales Agreement, Shares Scream Higher On News
Monday, November 2, 2015
According to a recent report from GE Capital, the middle-market food and beverage sector continues to see strong performance. But GE Capital also notes in its report that increasing competition is one of the key external challenges facing food and beverage firms in the middle market.
GE Capital conducted a survey of middle-market food and beverage companies and based on it noted that industry leaders in food and beverage express concern over commodity pricing, food safety and labor costs. Further, the report notes that one-quarter of the firms surveyed have increased the use of in-store promotions/coupons in the past one year in response to consumers’ spending preferences. Further, around 25% of the firms surveyed are considering streamlining distribution in the next 12 months in order to bring down costs.
Having said that, the GE Capital report also notes that the proportion of food and beverage companies reporting year-over-year gains in performance continues to be very high. In addition, margin growth is expected to slow but remain positive in the food and beverage sector over the next year.
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The food and beverage sector is certainly benefiting from strength in the U.S. economy. This morning, an emerging player in the food & beverage space reported some positive news. Barfresh Food Group Inc. (OTCQB:BRFH), a Beverly Hills, California-based company engaged in the business of creation, manufacturing and distribution of ready-to-blend frozen beverages, announced that it has signed a two-year sales agreement with an organization that represents 3,340 bowling centers nationwide. The organization represents more than 70% of bowling centers located in the U.S.
As per the terms of the agreement, Barfresh will work with the organization to provide its line of smoothies, shakes and frappes. The company expects to begin selling in the first quarter of 2016. BRFH’s blended line of smoothies, shakes, and frappes contain no preservatives and are made with real fruit.
Riccardo Delle Coste, founder and CEO of Barfresh Food Group, said that the company is very excited to begin rolling-out Barfresh products to bowling centers across the U.S. Delle Coste further said that the company’s ready-to-blend beverages are a great tasting and healthy addition to menus at bowling centers that serve more than 48 million people each year and is one of the fastest growing sports.
Shareholders of BRFH are also cheering on the news sending shares of the Company up over 20% on strong volume.
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