LOS ANGELES, Nov 11, 2014 (BUSINESS WIRE) -- Nate's Food Co. (OTC: NHMD) provided a corporate update on its product development and the related markets for these products. The Company will be providing this information to grocery stores and other interested parties.
Background. Nate's Food Co. was created by Nate Steck. Over the past 20 years, Nate Steck has started 5 different food companies that have generated approximately $200 Million in revenue and in which 3 of the companies were bought by other food companies. Currently, Nate developed Nate's Pancakes which is being sold by Nate's Food Co. Nate also created Batter Blaster which was sold in over 13,000 stores and grossed over $40 Million in sales. The market size for pancakes and waffles (which includes frozen waffles/pancakes and dry mixes) is approximately $1.1 Billion. Batter Blaster sold $40 Million or approximately 3.7% of the total market size.
Flavor Extension. By increasing the product line of Nate's Pancakes to include flavor extensions, the Company would expect to triple its total distributions points and thereby increasing sales by 200%-300%.
One-Minute Omelet. The Company has begun developing the One-Minute Omelet. The United States produces nearly 100 Billion eggs per year with sales in excess of $8.5 Billion per year. If the Company is able to have the same revenue penetration as Batter Blaster it would generate in excess of $300 Million in revenue.
Guacamole. The Company has begun developing a guacamole product line. The market for avocados and guacamole is approximately $3.5 Billion and in the United States nearly 1.3 Billion avocados are consumed on Super Bowl weekend alone. If the Company is able to have the same revenue penetration as Batter Blaster it would generate in excess of $129 Million in revenue.
Nate previously created product lines that focused on a single market. However, with Nate's Food the goal it to expand the Company's product line to include up to 10 products in the next year and to continually expand the product line.
