NHMD - Nate's Food Co. Announces It Is Finalizing Agreements with 3 Food Brokers For Nate's Pancakes
Oct 23, 2014 08:00:00 (ET)
LOS ANGELES--(BUSINESS WIRE)--October 23, 2014--
Nate's Food Co. (OTC: NHMD) announced today that it is finalizing agreements with 3 food brokers for placement of Nate's Pancakes. The brokers will assist the Company in selling Nate's Pancakes through 3 different channels: (1) grocery stores, (2) big box stores (i.e. Costco), and (3) private label.
The 3 food brokers have previously worked with Nate Steck for over 14 years and assisted in the sales of nearly $200,000,000. This will represent the first time that the 3 brokers will be working together as a group. The Company's goal is to expand its total points of distributions and leverage the work that Nate Steck has done previously with Batter Blaster to reduce the capital requirements needed to build out the production capacity to meet the demand of the product.
The process involved with grocery placement and private label is: (1) hire a food broker, (2) meet with buyers, (3) samples sent to buyer, (4) set up pricing, (5) delivery dates established (typically 1 to 3 months), and (6) begin with a rollout with a region of the stores before full deployment.
While the Company is finalizing the deal points with the brokers and pricing terms for the product, the Company is beginning to increase its capacity in anticipation of the orders from the contracts the food brokers will bring to the Company. By beginning to increase the capacity now, the Company will avoid costly expenses that plagued Batter Blaster and prevent any delays in meeting the increase in demand that is created for our products in what we expect to be over 50,000 points of distribution.
Once the final contracts have been executed the Company will provide the details of the agreements with the specific broker.
About Nate's Food Co.
Nate's Pancakes are a ready-to-use, pre-mixed pancake and waffle batter delivered in a pressurized can. Our pre-made batter makes light and airy pancakes or waffles that are fun for the entire family to make together, and are a great way to start your day. With no preparation and no clean-up, we've made making breakfast easier for your busy mornings.
About Nate's Pancakes
Nate's Pancakes is a food manufacturing and product development company with corporate offices in Huntington Beach, CA. Our product development and food science facilities are based in Fairfield, CA and our production facilities are based in Southern California. Nate's Pancakes is owned and operated by Nate's Food Co., which is a public company. More information on Nate's Food Co. can be found at www.natesfoodco.com.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual and interim reports.
Contacts:
Nate's Food Co.
Nate Steck
(661) 418-7842
info@nhmd.net
CONTACT: Nate's Food Co.
Nate Steck, 661-418-7842
info@nhmd.net
SOURCE: Nates Food Co.
Copyright Business Wire 2014
(END) Dow Jones Newswires
October 23, 2014 08:00 ET (12:00 GMT)
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