New 28,000 Sf. Facility Expands Artisan Specialty Product Offerings
BONITA SPRINGS, Fla., July 7, 2015 – Artisan Specialty Foods, a wholly owned subsidiary of Innovative Food Holdings (OTCQB: IVFH) and a nationwide specialty food distributer, re-packer and importer, has paid $890,000 to acquire a new 28,000 sf. distribution facility in Broadview, Illinois that more than doubles its distribution capacity.
The purchase represents a major milestone for Artisan, which was founded in 2004 as a small specialty food distributor servicing foodservice establishments in the Chicago area. Today, the company serves hundreds of customers in the Chicago area, and also serves as a nationwide fulfillment center for other Innovative Food Holdings subsidiaries operating in both the foodservice and direct-to-consumer markets.
The central location and larger size of the new facility allows Artisan to better serve its customers in Metro Chicago and surrounding areas, and the greater capacity allows for growth in stocked inventory, including the company’s products sold nationally. The larger space also allows the company to introduce a wider array of products that are repacked or private labeled.
“Given the strong increase in Artisan’s business during the first quarter and the overall strength in the specialty ingredient market, we needed a much larger distribution facility to support our growth,” noted Justin Wiernasz, president of Innovative Food Holdings. “Beyond alleviating space constraints, the new facility allows us to execute our core competency of building new specialty food platforms, like private label. The facility’s increased capacity also helps us eliminate third-party storage costs, which should go straight to the bottom line.”
The acquisition of the facility was financed through a commercial loan provided by Fifth Third Bank.
About Innovative Food Holdings, Inc.
Innovative Food Holding’s (OTCQB: IVFH) industry-leading specialty food platforms in the foodservice and consumer markets provide chefs and consumers direct access to the highest quality specialty food products across the United States.
In the direct-to-chef foodservice market, Innovative Food Holding’s fully automated direct-to-chef platform offers efficient, cost effective, and transparent direct sourcing and distribution of over 7,000 specialty foods delivered daily to thousands of chefs nationwide.
In the direct-to-consumer channel, Innovative Food Holdings also owns the leading last mile specialty food delivery platform in the United States, creating and delivering daily meals, freshly prepared by chefs at Company-owned culinary centers across the United States. The initial offering on the platform is The Fresh Diet, America’s leading, freshly prepared nutritional and diet-based meal delivery program. The Fresh Diet is currently available across 44 metropolitan areas and 570 cities and towns across the United States. For detailed delivery information, and to review available menu options or learn more about how The Fresh Diet works, please visit www.TheFreshDiet.com.
This release contains certain forward-looking statements and information relating to Innovative Food Holdings, Inc. (the “Company”) that are based on the current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, the Company. Such statements reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “should,” “could,” “anticipate,” “believe,” “intend,” “plan,” “might,” “potentially” or “expect.” The Company does not intend to update these forward-looking statements. Information about other parties was supplied to the Company by other parties and we accept no responsibility for its accuracy.
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