Business
MamaMancini’s Adds Over 4,000 Spots on Retailer Shelves with New Placements in Tier-1 National Locations
EAST RUTHERFORD, NJ, July 29, 2022 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (NASDAQ: MMMB), which strives to become the largest marketer and
About this update from Mama's Creations, Inc.
[{"type":"text","content":"EAST RUTHERFORD, NJ, July 29, 2022 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (NASDAQ: MMMB), which strives to become the largest marketer and distributor of fresh, clean and easy to prepare foods, today 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 (1 item in 230 East Coast locations), Hannaford Food Stores rotation (4 new items replacing existing items in 150 New England locations), The Fresh Market, (3 new items in 150 South, Northeast and Midwest locations), Albertsons Safeway (3 new items in 300 locations Northern California and Hawaii), Acme/Safeway Stores Division of Albertsons (3 new items in 330 East Coast locations), Shop Rite Stores (1 new item in 300 Mid Atlantic locations), Raley's (5 new items in 120 California hot bar locations in testing and not counted in new spots accounting above), Key Foods Cooperative (4 new items in 320 Mid Atlantic area and Florida locations), Lowes Stores (4 new items in 80 South East Locations), and Food Town Cooperative (6 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 CupTM, 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 ...