Barfresh Food Group announces new partnerships with 1,300 Midwest schools to provide healthier smoothie options for students.
Quiver AI Summary
Barfresh Food Group Inc. has announced significant new customer wins in the Midwest educational market, adding about 1,300 schools to its client base, many of which are already offering its healthy smoothie beverages on breakfast menus. This expansion follows the company's recent approval from AEA purchasing, which oversees menu items for approximately 1,200 schools in the region, allowing Barfresh’s Twist & Go™ smoothies to be served. The company expects to broaden its presence further during the 2025-26 school year due to positive initial responses. Additionally, Barfresh is testing a new product line, Pop & Go™ 100% Juice Freeze Pops, aimed at lunch menus, presenting further growth opportunities. CEO Riccardo Delle Coste emphasized the potential of the Midwest market in the company's K-12 strategy and the importance of partnerships with educational service providers to enhance their reach.
Potential Positives
- Barfresh Food Group Inc. secured new customer wins in the Midwest education market, expanding its reach to approximately 1,300 schools, indicating significant market penetration opportunities.
- The company received approval for its Twist & Go™ smoothies from AEA purchasing, allowing its products to be served on breakfast and a la carte menus in a network of about 1,200 schools.
- Positive initial reception of Barfresh smoothies in schools suggests strong demand for better-for-you beverage options in the education sector.
- The introduction of the new Pop & Go™ 100% Juice Freeze Pops product line targeting lunch menus presents a significant growth opportunity, particularly due to higher placement volume compared to breakfast items.
Potential Negatives
- While Barfresh announced new customer wins, the press release heavily relies on forward-looking statements which indicate that actual results may vary significantly due to unforeseen risks and uncertainties.
- The company emphasizes its growth strategy in the K-12 market but does not provide concrete data on financial performance or existing market share, raising concerns about the sustainability of its expansion efforts.
- Despite the positive reception mentioned for their products, there is no indication of how long these early successes will last, leaving potential uncertainty about future sales and customer loyalty.
FAQ
What recent developments have occurred for Barfresh in the education market?
Barfresh secured multiple new customer wins, adding around 1,300 schools in the Midwest education market serving its smoothies.
What is the significance of AEA purchasing approval for Barfresh?
AEA purchasing approval allows Barfresh's smoothies to be included in menus for approximately 1,200 schools, enhancing their market reach.
How have Barfresh smoothies been received in schools?
The initial rollout of Barfresh smoothies has been met with strong reception across several schools, validating demand for better-for-you beverages.
What is the Pop & Go™ 100% Juice Freeze Pops product line?
This new product line is targeting the lunch menu segment, offering significant growth opportunities with higher placement volumes compared to breakfast.
What is Barfresh Food Group's primary business focus?
Barfresh develops and distributes ready-to-blend and ready-to-drink beverages, primarily targeting the education market and foodservice industry.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BRFH Insider Trading Activity
$BRFH insiders have traded $BRFH stock on the open market 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $BRFH stock by insiders over the last 6 months:
- LISA ROGER (Chief Financial Officer) has made 0 purchases and 5 sales selling 4,522 shares for an estimated $11,936.
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$BRFH Hedge Fund Activity
We have seen 7 institutional investors add shares of $BRFH stock to their portfolio, and 2 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HIGHTOWER ADVISORS, LLC added 35,363 shares (+37.4%) to their portfolio in Q3 2024, for an estimated $102,906
- MESIROW FINANCIAL INVESTMENT MANAGEMENT, INC. added 21,398 shares (+inf%) to their portfolio in Q3 2024, for an estimated $62,268
- UBS GROUP AG added 9,550 shares (+512.6%) to their portfolio in Q3 2024, for an estimated $27,790
- GEODE CAPITAL MANAGEMENT, LLC added 7,718 shares (+9.4%) to their portfolio in Q3 2024, for an estimated $22,459
- TOWER RESEARCH CAPITAL LLC (TRC) removed 411 shares (-21.8%) from their portfolio in Q3 2024, for an estimated $1,196
- NEWEDGE ADVISORS, LLC added 209 shares (+68.8%) to their portfolio in Q3 2024, for an estimated $608
- ROYAL BANK OF CANADA removed 74 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $215
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Full Release
LOS ANGELES, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq: BRFH), a provider of frozen, ready-to-blend and ready-to-drink beverages, today announced multiple new customer wins in the Midwest education market. These new school additions represent approximately 1,300 schools across the region. Several of these schools have already begun serving Barfresh's portfolio of better-for-you smoothie beverages on their breakfast menus, with additional implementations set to continue through the start of the 2025-26 school year.
A key highlight of this announced expansion is the Company’s recent approval from AEA purchasing, a regional educational service provider, responsible for the menu items representing approximately 1,200 schools in the Midwest. After a series of successful tests with the purchasing group and their representative members (the schools, including the students at the schools), Barfresh’s Twist & Go™ smoothies were approved for the breakfast and a la carte menus. Initial rollout of Barfresh smoothies has begun across several of their member schools. Following strong early reception, the Company anticipates expanding to additional schools within the AEA’s network during the 2025-26 school year.
Riccardo Delle Coste, the Company’s Chief Executive Officer, stated, “The Midwest market represents a significant opportunity in our K-12 growth strategy. Our relationship with the school districts as well as AEA, which is the group responsible for approving menu items, demonstrates the effectiveness of working with regional educational service providers to expand our reach to schools of all sizes. The strong reception from schools currently rolling out our products validates the demand for convenient, better-for-you beverages in the education channel. Additionally, our new Pop & Go™ 100% Juice Freeze Pops product line, which is currently in regional testing, represents a significant growth opportunity as we prepare for national rollout. This innovative product targets the lunch menu segment, where placement volume is typically 3 to 5 times higher than breakfast menu placement. As we continue our national expansion, these new customer wins and product innovations further strengthen our position in the education channel."
About Barfresh Food Group
Barfresh Food Group Inc. (Nasdaq: BRFH) is a developer, manufacturer and distributor of ready-to-blend and ready-to-drink beverages, including smoothies, shakes and frappes, primarily for the education market, foodservice industry and restaurant chains, delivered as fully prepared individual portions or single serving and bulk formats for on-site preparation. The Company’s single serving, on-site prepared product utilizes a proprietary, patented system that uses portion-controlled pre-packaged beverage ingredients, delivering a freshly made frozen beverage that is quick, cost efficient, better for you and without waste. For more information, please visit www.barfresh.com .
Forward Looking Statements
Except for historical information herein, matters set forth in this press release are forward-looking, including statements about the Company’s commercial progress, success of its strategic relationship(s), and projections of future financial performance. These forward-looking statements are identified by the use of words such as “grow”, “expand”, “anticipate”, “intend”, “estimate”, “believe”, “expect”, “plan”, “should”, “hypothetical”, “potential”, “forecast” and “project”, “continue,” “could,” “may,” “predict,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. All statements, other than statements of historical fact, included in the press release that address activities, events or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the Company believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The contents of this release should be considered in conjunction with the Company’s recent filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including any warnings, risk factors and cautionary statements contained therein. Furthermore, the Company expressly disclaims any current intention to update publicly any forward-looking statements after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.
Investor Relations
John Mills
ICR
646-277-1254
[email protected]
Deirdre Thomson
ICR
646-277-1283
[email protected]