Business
MamaMancini’s Secures New Authorizations at Tier-1 National Supermarkets and Club Stores
EAST RUTHERFORD, NJ, March 08, 2022 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (NASDAQ: MMMB), a marketer and distributor of specialty pre-prepared
About this update from Mama's Creations, Inc.
[{"type":"text","content":"EAST RUTHERFORD, NJ, March 08, 2022 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (NASDAQ: MMMB), a marketer and distributor of specialty pre-prepared all-natural foods, today announced new authorizations and shipments of products into tier-1 national and regional food retailers, club stores and a distributor to a major European airline carrier. MamaMancini’s will commence a major rotation joint merchandising program with all 600 Sam's Clubs for its branded 3# Jumbo Meatballs beginning in early April. The Company has also received authorization for a market test of a Panini Sandwich from the Company’s T&L Creative Salads division at 200 select Sam’s Club Kitchen locations nationally. Major supermarket authorizations include one new item authorized at 1,000 Albertsons and Safeway locations starting in April, and 10 new items authorized at 111 Schnucks Supermarkets in March. The Company’s Olive Branch division has notably expanded its distribution footprint with ALDI Markets by 60% to 1,000 locations nationwide. In addition, MamaMancini’s will begin rotation of a new dinner meal with a distributor servicing a major European airline carrier. “We continued to scale our national network of tier-1 retailer and club store accounts in the first quarter, including the notable addition of T&L Creative Salads products into existing relationships at Sam’s Club,” said Carl Wolf, Chairman and CEO of MamaMancini’s Holdings, Inc. “This demonstrates the ability to push complementary products through the combined national network. In addition, we secured an exciting new rotational placement with a major European airline carrier for a dinner to be served in-flight – changing the age-old adage about airline food. “In the months ahead we will continue to push new products through the combined national distribution network, both from our MamaMancini’s classic line as well as through acquired companies. This positions us for an acceleration of robust sales growth starting in the first quarter of this fiscal year. “While record high protein prices have certainly affected margins over the last year, we are hopeful that margins will normalize in 2022 as higher prices are passed on to retailers and there is expectations that commodity costs will back off some from these levels. Considering our potential for sales growth and normalized margins, we belie...