DENVER, CO--(Marketwire - Nov 13, 2012) - Barfresh Food Group, Inc. (
The agreement consists of a development arrangement, whereby Barfresh will provide up to 3,000 of the restaurant chain's franchise locations with a custom range of uniquely blended smoothies utilizing Barfresh's patent pending proprietary pre-portioned packaging system of ready to blend ingredient packs.
Also included are the development of custom flavors and ingredients specific to the Chain's customer demographic, and an initial test of two markets on the West Coast, with the anticipation of a full nationwide rollout shortly thereafter. Upon product test approval and nationwide adoption, the agreement provides Barfresh with the opportunity to have additional distribution through one of the country's leading food service distributors.
As part of the comprehensive development process, the customized flavors will be exclusive to the customer, and will require approval per the customer's specifications prior to being made available for retail sale.
Barfresh CEO Riccardo Delle Coste said, "These large QSR chains are right in the sweet spot for our business model and operations. We know and understand what it takes to provide large QSRs with unique ready to blend beverage options their customers can't find anywhere else.
"Since our customer views the introduction of this new smoothie line as a competitive advantage for them, we are contractually unable to mention their name and are required to maintain their anonymity throughout the process. With so many QSRs rushing to adopt healthier beverage lines for their consumers in an effort to capitalize on this rapidly growing trend, we believe we are providing them with a strong competitive edge in the marketplace. We're developing great tasting beverages, while working closely with their product development groups to deliver a smoothie line that will be well received by their customers. It's a win-win scenario for everyone involved."
Mr. Delle Coste added, "This is our third significant development agreement in the past forty five days. Large QSRs are starting to discover our unique value proposition and strategic positioning through our ability to deliver healthy and great tasting blended smoothie products, as well as the cost effective nature of our proprietary packaging system, and our ability to customize flavors and ingredients specifically for their brand."
About Barfresh Food Group, Inc.
Barfresh Food Group Inc. is a manufacturer and distributor of ready to blend beverages. The Company utilizes a proprietary patent pending system, using controlled pre-packaged portions, to deliver a freshly made smoothie that's quick, cost efficient and with no waste. Barfresh Food Group, Inc. acquired the exclusive North American rights of the technology to manufacturer a "sealed pack of ingredients for an individual smoothie." Barfresh Food group Pty Ltd. ("Barfresh Australia") began manufacturing and selling the products, Smoo Smoothies® in 2005. Barfresh Australia currently provides the smoothie packs to a number of chains (including two international chains) in Australia and a number of other countries.
Barfresh Food Group, Inc. intends to follow a similar business model in the U.S. as that of Barfresh Australia. The Company intends to sell ready to blend all natural beverages primarily to restaurant chains in the fast food and fast casual dining sector. Barfresh Food Group, Inc. intends to target the retail consumer market, including grocery stores and other retail outlets.
Forward-Looking Statement Notice:
This press release includes "forward-looking statements" as defined by the U.S. Securities and Exchange Commission (the "SEC"). 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 and may not materialize. Investors are cautioned that any such statements are not guarantees of future performance. The contents of this release should be considered in conjunction with the warnings, risk factors and cautionary statements contained in the Company's recent filings with the SEC, including its Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Furthermore, the Company does not intend, and is not obligated, to update publicly any forward-looking statements, except as required by law.