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Innovative Food Holdings, a publicly traded company that caters to professional and home chefs, has made progress on five deals — involving both property and business units — expected to net the company at least $7 million.
The Bonita Springs firm, which posted $80.1 million in revenue in 2022, is publicly traded over the counter (symbol: IVFH). The deals were discussed during the company’s Nov. 9 third-quarter earnings call. The latest updates, according to a Dec. 18 statement, include:
“As we progress through my first year with the company, it’s critical that we continue to make progress towards our ‘100/10 Plan,’ by achieving our first $100 million in revenue and $10 million in adjusted EBITDA,” Bennett says in the statement. “We are highly focused on first stabilizing the company, then reallocating resources, capital, and focus to our core, profitable business. Between our Artisan Specialty Foods distribution business unit, and our Food Innovations drop ship business unit, I continue to be excited by the significant new customer and channel opportunities we are pursuing with the additional focus and resources we are unlocking for the team.”
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