BONITA SPRINGS, Fla., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB:IVFH) ("IVFH" or the "Company"), a national seller of gourmet specialty foods to Professional Chefs and Home Gourmets, today announced five key elements of progress against its strategic plan, which was discussed at its Q3 earnings call, held on November 9, 2023. They are as follows:
- First, the Company has received and accepted an offer to purchase its building in Bonita Springs, FL. The sale is expected to close in approximately 60 days.
- Second, the Company has listed its e-commerce fulfillment center in Mountain Top, PA for sale or lease through CBRE, a national commercial broker.
- Third, the Company has entered into an agreement with Sampford Advisors Inc., a Technology M&A advisory firm, to run the process of exploring strategic alternatives for the Company's e-commerce business.
- Fourth, the Company has signed a letter of intent to sell its Grow Brand Management consulting business to the current manager of that entity. The deal is expected to close in the next 30-60 days.
- Fifth, the Company has entered into an agreement to sell off its minority stake in a small ecommerce startup called Curdbox.com, and expected to close by the end of the year.
"I'm excited about these strategic moves and I am optimistic that they will each have a positive impact on the company's financial performance and focus," stated Bill Bennett, the Company's Chief Executive Officer. "As we discussed in our Q3 ...