Revenue from the 100 new locations added in last two months will be Reflected Primarily in Third and Fourth Quarter Results
Additional Increase Beyond 300 Locations expected before End of Year 2018
Expansion throughout Multiple States
BEVERLY HILLS, Calif., Sept. 18, 2018 (GLOBE NEWSWIRE) -- Barfresh Food Group, Inc. (BRFH), a manufacturer of frozen, ready-to-blend beverages, today announced that it has expanded its education program to more than 300 locations throughout multiple states, an increase of 100 locations in the last two months. 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 continue its expansion well beyond 300 locations and expects to realize many additional placements in the fall of 2018. The Company’s continues to receive positive responses from school administrators and believes its unique product offering, specialized programs, national distribution footprint and strategic partnerships ensure 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 over 300 locations across multiple states and we expect continued strong growth for the foreseeable future. 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.”
About Barfresh Food Group
Barfresh Food Group, Inc. (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.