(Other OTC:IVFH),(OTC US:IVFH),
BONITA SPRINGS, Fla., Feb. 25, 2025 (GLOBE NEWSWIRE) — Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs and consumers, is pleased to announce the successful completion of the relocation of LoCo Food Distribution LLC (“LoCo Foods”) from Fort Collins, CO, to Denver, CO. This strategic move consolidates LoCo Foods' operations with the Company's subsidiary, Golden Organics, Inc. (“Golden Organics”), unlocking substantial cost savings and operational synergies.
The relocation marks a significant milestone in the integration of LoCo Foods with Golden Organics and will deliver tangible benefits:
- Logistics Optimization: By relocating to Denver–where 80% of LoCo Foods' customer base is located–the Company will reduce miles driven by approximately 60% and reduce driving labor by approximately 50%, improving both efficiency and sustainability.
- Cost Reductions: The move will eliminate LoCo Foods' $159,000 annual warehouse lease and property tax expense, while also reducing expenses associated with utilities and truck maintenance, further strengthening the financial profile of the business.
- Future Synergies: Additional efficiencies are expected as IVFH continues integrating delivery routes, optimizing inventory management, and capitalizing on cross-selling opportunities across Golden Organics and LoCo Foods' extensive customer networks.
“This relocation is a significant step forward in realizing the value of our acquisition,” said Bill Bennett, CEO of IVFH. “By consolidating operations in Denver, we are not only cutting costs but also improving service levels for our customers. The savings and efficiencies we've already realized reinforce our confidence in the long-term profitable growth potential of this business. But most importantly, the progress demonstrates the speed at which the team is moving in achieving synergies and creating our acquisition integration playbook, which will be leveraged for future acquisitions.”
About Innovative Food Holdings, Inc.
At IVFH, we help make meals special. We provide access to foods that are hard to find, have a compelling story, or are on the forefront of food trends. Our gourmet foods marketplace connects the world's best artisan food makers with top professional chefs nationwide. We curate the assortment, experience, and tech enabled tools that help our professional chefs create unforgettable experiences for their guests. Additional information is available at www.ivfh.com.
Forward-Looking Statements
This release contains certain forward-looking statements and information relating to the Company that are based on the current beliefs of the Company's management, as well as assumptions made by, and information currently available to, the Company. Such statements reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “should,” “could,” “will,” “anticipate,” “believe,” “intend,” “plan,” “might,” “potentially” “targeting” or “expect.” Additional factors that could also cause actual results to differ materially relate to international crises, environmental and economic issues and other risk factors described in the Company's public filings. The Company does not intend to update these forward-looking statements. The content of the websites referenced above are not incorporated herein.
Investor and Media contact:
Gary Schubert
Chief Financial Officer
Innovative Food Holdings, Inc.
investorrelations@ivfh.com
