DENVER, CO--(Marketwire - Dec 11, 2012) - Barfresh Food Group, Inc. (
The series of signed agreements calls for the exclusive development of a new drink platform for approximately 6,000 locations nationwide. Details of the agreements include a fully customized smoothie drink line utilizing the Barfresh patent pending proprietary packaging system of ready to blend ingredient packs. The new product line will consist of unique flavors and ingredients customized specifically for this customer.
The agreements also call for product and operations development, which will occur over the next several months including the procurement for product being made available and sold in certain initial markets, commencing as early as three to nine months, with the anticipation of a nationwide rollout shortly thereafter, which will be predicated on timing and availability of equipment.
Barfresh CEO, Riccardo Delle Coste, said, "This is the most significant development agreement for our Company to date. These agreements dramatically change the landscape of our business. This chain has approximately 6,000 locations here in the U.S. alone and when compared to other similar sized QSR customers, who have been quoted as selling hundreds of blended drinks per store per week, this contract for Barfresh represents a potentially significant multi-million dollar deal for us."
"This is also a testament to the strength and flexibility of our proprietary ready to blend delivery system, as we are able to change and adapt different flavors and ingredient combinations for any of our large customers. However, we are contractually obligated to maintain confidentiality and protect the disclosure of our large QSR customer names in an effort to provide them with the utmost competitive advantage."
Mr. Delle Coste added, "These recent agreements solidify the progress we're making with large multinational QSR's. We are very optimistic right now, we're bringing great tasting nutritional beverage products to the fast casual restaurant space that has never been previously made available to their customers. In the past, bringing so many different ingredients together has been either very expensive and/or highly labor intensive, so our system is very unique and affordable for large QSRs."
"There's a big shift taking place in the multi-billion dollar QSR space, whereby we believe consumers are seeking healthier drink alternatives than what they've historically had available to them. Consumers are much more health conscious, so restaurants are looking for ways to provide products that taste good, and are also good for them. This growing trend is seen in parents migrating away from unhealthy food and beverages for their children. Obviously this opens up a tremendous opportunity for us, and that is why we're extremely excited about the future outlook for our Company and shareholders."
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. utilizes contract manufacturing facilities to complete the manufacturing of its "sealed pack of ingredients for an individual smoothie."
The Company sells ready to blend all natural beverages primarily to restaurant chains in the fast food and fast casual dining sector. In the future it intends to target other segments of the food service industry as well as 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.