Successful market test with HT Hackney, which serves over 20,000 outlets on the East Coast, presents a significant opportunity for foodservice in a market covering 300,000 locations nationwide
EAST RUTHERFORD, NJ, Aug. 04, 2022 (GLOBE NEWSWIRE) — Mama Mancini’s Holdings, Inc. (NASDAQ: MMMB), striving to become the largest marketer and marketer of fresh, clean, easy-to-prepare foods, today announced that it has been awarded a market test with HT Hackney Company (“Hackney”), one of the largest wholesale distributors in the United States, for the brand MamaMancini’s The Original Meatballs in a Cup™ (“Meatballs in a Cup”) and four Meals for One branded products in 47 select locations.
HT Hackney serves over 20,000 outlets and stocks over 30,000 products with strategically located distribution centers, creating a 22-state distribution network in the eastern United States. Retailers served by Hackney include convenience stores, pharmacies, travel centers and small grocery stores. For over 100 years Hackney has been on a mission to provide our customers with everything they need from one reliable source.
The market test will include meatballs in a cup as well as four ready-to-heat-for-one meals at 47 Tennessee “twice-a-day” convenience stores, which focus on quality fresh food and beverages. New test placements are expected to begin shipping in September 2022.
“Distribution with Hackney’s family of retail restaurant partners is a very promising step in MamaMancini’s growing restaurant vertical,” said Carl Wolf, CEO of MamaMancini’s. “With over 20,000 locations, a successful test could position us for placement in thousands of Hackney customer locations in the eastern United States.
“We hope that this order represents our first step into the market estimated at 300,000 convenience stores, small grocers, delicatessens, sandwich shops and comparable points of sale. The size of the catering market is significant, with the aforementioned figure not including opportunities in other aspects of catering such as colleges and universities, corporate restaurants, travel centers, stadiums, large group meetings and fast food. We believe we can extend our foodservice products, such as our Meatballs in a Cup and Meals for One brands, to traditional supermarket chains and club stores, with increasingly popular takeaway offerings.
“We are strongly focused on expanding our foodservice product line to complement our significant national presence at national Tier 1 retailers, which could potentially represent a doubling of our total addressable market. Combined with our growth strategy targeting large national retailers with our expanded product portfolio, we believe foodservice represents the next big growth opportunity to expand our national footprint as we continue to create sustainable, long-term value for our shareholders,” Wolf concluded.
About MamaMancini’s Holdings, Inc.
MamaMancini’s Holdings, Inc. (NASDAQ: MMMB) strives to be the largest marketer and marketer of fresh, clean, easy-to-prepare foods in North America. MamaMancini’s extensive product portfolio includes meatballs, meatloaf, sausages and pasta bowls with varieties of beef, turkey, chicken and pork, as well as an assortment of chicken, olives, savory products and salads through its T&L Creative Salads and Olive Branch subsidiaries. . The Company owns a 24% interest in Chef Inspirational Foods, an innovative sales and marketing company specializing in the prepared food category. The Company’s products are sold in more than 45,000 locations nationwide, including regional delis and well-known retailers such as Sam’s Club, ALDI Markets, Schnuck Markets, Whole Foods, Publix, ShopRite, Stop & Shop, Costco and Albertsons – as well as through national distributors such as Sysco and United Natural Foods. The Company also maintains a direct-to-consumer presence on QVC. For more information, please visit www.mamamancinis.com.
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 expectations, plans, results or strategies and are usually preceded by words such as “may”, “future”, “plans” or “expected”, “will” or “should”, “expected”, “anticipates”, “project” , “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 due to various factors and other risks identified in the Company’s 10-K for the year ended January 31, 2022 and others do cuments filed by the Company with the Securities and Exchange Commission.
Investor Relations:
Lucas A. Zimmerman
Director
MZ Group – MZ North America
(949) 259-4987
MMMB@mzgroup.us
www.mzgroup.us
