MamaMancini’s Sees Recent Significant Uptick in Economic Growth for U.S for 2021; Receives Major New Commitments from National Accounts
Receives 24 New Authorizations from National Accounts, Club Stores and Large Regional Retailers for Introduction in Late Winter, Spring and Summer 2021
Represents 13,000 – 20,000 New Spots on Retailer Shelves Spanning Plant Based Meatballs, Pasta Bowls & Several Other New Products
EAST RUTHERFORD, NJ, Feb. 01, 2021 (GLOBE NEWSWIRE) -- (OTCQB: MMMB), a marketer of specialty pre-prepared, frozen and refrigerated food products, today announced a recent influx of 24 new product authorizations from retailers and club stores nationwide, all for late winter, spring and summer 2021 rollout.
“We believe that this initial order activity is an early indicator of a significant increase in U.S. economic growth in 2021 and a signal of strong volume growth for MamaMancini’s in the months ahead,” said Carl Wolf, Chairman and CEO of MamaMancini’s Holdings. “Our view mirrors the American Staffing Association’s announcement that its Staffing Index for the week ended January 23rd noted placements up 2.8% from the prior week and 1% above the same week in 2020.
“The economic and political uncertainty as well as rapid increase in COVID-19 transmissions present in the last quarter of 2020 resulted in many retailers holding off on new merchandising and authorizations decisions until the beginning of 2021. Retailer commitments and positive outlook generally increased in the last several days as COVID-19 vaccinations rapidly progressed and political considerations turned more positive. While these new authorizations do not guarantee success or widespread distribution in the marketplace, we are optimistic in that we are now seeing a resumption of strong activity. We also expect higher order volumes during the year from existing retailer hot and cold bars, as well as deli products, as the pandemic recedes and its effect on the economy subsides as compared to 2020.”
Initial purchase orders received for delivery by February 28th include 550 Winn Dixie (Southern Foods) locations; 1,200 Publix locations; 100 Costco locations as a seasonal rotation; 140 locations across two divisions of Albertsons consisting of Safeway Stores in the Mid-Atlantic and Kings Supermarkets/Balducci in the Mid-Atlantic and NY Metro; 130 Hannaford Foods locations in New England (holding of Ahold) and 100 KVAT Food City locations in Virginia and the Southeast.
Recent preliminary commitments, subject to change, for delivery this spring and summer consist of 650-1,300 high-volume Kroger locations across the U.S.; an additional product test rotation at 150 Sam’s Club locations and expected new merchandising on existing products at Sam’s Club with increased volume at 600 locations; 100 additional Costco locations in Northern California for a seasonal rotation; and 1,500-3,000 Walmart locations nationwide.
In aggregate, these new orders and commitments are estimated to appear in 13,000-20,000 new locations on store shelves, in hot bars, delicatessen sections, retail packaged refrigerated sections, and in the grab-n-go sections of the prepared foods departments. In addition, the Company has introduced several new items in live airings on QVC in January with a strong reception to-date.
Items authorized or committed include: beef meatballs in sauce, stuffed beef meatballs, sausage n peppers and onions, chicken parmesan, stuffed meatballs and spaghetti, several existing pasta bowls, plant based meatballs and penne pasta bowl, Florentine lasagna roll ups pasta bowl, family pack meatballs in retail sleeves, and jumbo meat balls in a retail economy pack. New items include Bolognese sauce, pasta and marinara sauce; peppers and onions without sauce, Italian pork or chicken sausage, and Italian dumplings and sauce.
“In the coming months, we are pursuing several new activities in the areas of major direct-to-consumer partnerships, plant-based meatball opportunities, convenience store “grab and go” products, college and university channel partnerships as well as in store merchandising in food service establishments of a prototype “Mama’s Kitchen” Kiosk concept.
“I am proud of our team for continuing to expand our already robust distribution, making MamaMancini’s a truly national brand. We look forward to continued progress in the months ahead as we strive to create sustainable, long-term value for our shareholders,” concluded Wolf.
About MamaMancini’s Holdings, Inc.
MamaMancini's Holdings, Inc. (OTCQB: MMMB) is a marketer and distributor of specialty prepared, refrigerated and frozen all-natural Italian foods. MamaMancini’s product portfolio consists of over 20 products including meatballs, meat loaf, chicken parmesan, sausages and pasta bowl kits, with beef, turkey, chicken and pork varieties. The Company’s products are sold in over 45,000 locations nationwide, including at well-known retailers such as Sam’s Club, Whole Foods, Publix, Costco and Albertsons, as well as through national distributors such as Sysco and United Natural Foods. The Company also regularly maintains a direct-to-consumer presence through presentations on QVC. For more information, please visit .
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's 10-K for the fiscal year ended January 31, 2019 and other filings made by the Company with the Securities and Exchange Commission.
Investor Relations Contact:
Lucas A. Zimmerman
Senior Vice President
MZ Group - MZ North America
(949) 259-4987
