Food distributor plans spinoff

BONITA SPRINGS — Innovative Food Holdings plans to spin off The Fresh Diet into a separate public company.

Bonita Springs-based Innovative Food provides chefs nationwide with specialty and artisan foods and its Fresh Diet subsidiary delivers fresh meals to consumers in 44 metropolitan areas.

“We believe the market value of The Fresh Diet and our profitable direct-to-chef businesses are not being fully appreciated or captured in Innovative Food Holdings' stock price,” says Sam Klepfish, CEO of Innovative Food Holdings, in a statement. “By establishing our direct-to-chef and direct-to-consumer businesses as distinct operations — each with their own particular business characteristics and dynamics — we believe it provides the best opportunity to maximize shareholder value.”