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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  MamaMancini's Holdings, Inc.    MMMB

MAMAMANCINI'S HOLDINGS, INC.

(MMMB)
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MamaMancini : Announces New Customer Authorizations Including Walmart, Whole Foods, Winn Dixie and Weis Supermarkets

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09/16/2020 | 09:32am EDT

Company Announces New Authorizations at Over 2,500 Tier-1 Storefronts Nationwide

EAST RUTHERFORD, NJ, Sept. 16, 2020 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (OTCQB: MMMB), a marketer of specialty pre-prepared, frozen and refrigerated food products, today announced that it has secured new customer authorizations, both in terms of new locations and expansion of existing placements, at over 2,500 major nationwide for shipment this quarter.

The new customer authorizations include a cycle rotation at select 1,500 Walmart locations nationally, as well as additions in merchandising locations at 500 Whole Foods Kitchens nationwide, 500 Winn Dixie locations in the Southeast and 170 Weis Supermarkets in the Mid Atlantic region. In addition, the Company will be introducing several new items for sale through QVC – which has served as a highly productive direct-to-consumer opportunity for the Company.

Products ordered for the new authorizations include MamaMancini’s 2.5# Family Pack Meatballs, 3 Cheese Meatball Pasta Bowls, Sausage & Peppers Pasta Bowls, Chicken Alfredo Pasta Bowls, Spinach Lasagna Roll Ups, Antibiotic-Free Beef & Turkey Meatballs as well as Beef Meatloaf with Tangy Sauce.

“I am thrilled to announce yet another series of new customer authorizations which will ship in the months of September and October, further expanding our product distribution at over 2,500 tier-1 storefronts nationwide,” said Carl Wolf, Chairman and Chief Executive Officer of MamaMancini’s. “We see a significant opportunity in further penetration in top national retailers such as these and look forward to executing upon the immense opportunity facing our Company today.”

About MamaMancini’s Holdings, Inc.

MamaMancini's Holdings, Inc. (OTCQB: MMMB) is a marketer and distributor of specialty prepared, refrigerated and frozen all-natural Italian foods. MamaMancini’s product portfolio consists of over 20 products including meatballs, meat loaf, chicken parmesan, sausages and pasta bowl kits, with beef, turkey, chicken and pork varieties. The Company’s products are sold in over 45,000 locations nationwide, including at well-known retailers such as Sams Club, Whole Foods, Publix, Costco and Albertsons, as well as through national distributors such as Sysco and United Natural Foods. The Company also regularly maintains a direct-to-consumer presence through presentations on QVC. For more information, please visit www.mamamancinis.com.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's 10-K for the fiscal year ended January 31, 2019 and other filings made by the Company with the Securities and Exchange Commission.

Investor Relations Contact:
Lucas A. Zimmerman
Senior Vice President
MZ Group - MZ North America
(949) 259-4987
MMMB@mzgroup.us
www.mzgroup.us


MamaMancini's logo

Source: MamaMancini's Holdings, Inc.

2020 GlobeNewswire, Inc., source Press Releases


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Financials (USD)
Sales 2021 43,5 M - -
Net income 2021 3,59 M - -
Net Debt 2021 - - -
P/E ratio 2021 18,5x
Yield 2021 -
Capitalization 69,6 M 69,6 M -
Capi. / Sales 2021 1,60x
Capi. / Sales 2022 1,25x
Nbr of Employees -
Free-Float 51,1%
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Consensus
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Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 3,25 $
Last Close Price 2,04 $
Spread / Highest target 59,3%
Spread / Average Target 59,3%
Spread / Lowest Target 59,3%
EPS Revisions
Managers
NameTitle
Carl T. Wolf Chairman & Chief Executive Officer
Matthew Brown President, Chief Operating Officer & Director
Lawrence Morgenstein Chief Financial Officer
Alfred DAgostino Independent Director
Thomas G. Toto Independent Director
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