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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's Engages B&A Food Brokers to Expand Presence in Food Service Industry

10/16/2020 | 08:31am EST

Company to Heavily Market Key Food Service Accounts for Plant Based Meatballs and Pasta Bowl Products

EAST RUTHERFORD, NJ, Oct. 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 engaged B&A Food Brokers (B&A), one of the largest independent food brokers, for food service sales solicitation in the Mid-Atlantic region of the United States, as well as with strategic national accounts throughout the country.

Founded in 1985, B&A Food Brokers is a rapidly growing firm providing on site merchandising, sales and promotional programs with a wealth of resources and a network of relationships

The new sales program will emphasize MamaMancini's offerings for plant-based meatballs, pasta bowls, and beef and turkey meatballs to this client base, driven by an aggressive marketing campaign.

“The Mid-Atlantic area is unique in that it is a mix of traditional chain and corporate accounts as well as local independent customers,” said Carl Wolf, Chairman and Chief Executive Officer of MamaMancini’s. “B&A’s representative customer base includes over 50,000 independent take-out delis, gourmet food stores, restaurants, small retail supermarkets and convenience stores; as well as distributors servicing this exciting new niche.

“We choose B&A because of their established food service presence as one of the top sales groups in the region. With their creative and innovative approach, we believe B&A is the right choice to help drive the expansion of our footprint in this key market as well as with key strategic accounts nationwide,” concluded Wolf.

Andy Epstein, Chief Executive Officer of B&A Food brokers added, “We are looking forward to becoming an extension of the MamaMancini's sales team, bringing buyers and sellers together around their beloved meatball and pasta bowl product lines. We will provide the focus and experience necessary to maximize sales opportunities, and are eager to help further penetrate the Mid-Atlantic region, as well as select national accounts for MamaMancini's.”

About B&A Food Brokers

B&A Food Brokers is a privately owned sales agency representing fast growing brands and companies in the specialty food segment to all classes of trade. With offices in 8 states, B&A offers local, regional, and national coverage options to its Principals. Among the Star brands in the B&A portfolio are Kerrygold Irish Butter and Cheeses, Reser’s prepared foods and salads, Alouette Cheeses, Jarlsberg, Brownie Brittle, Honey Stinger, Diamond Crystal, and Dairy Farmer’s of America. For more information, please visit www.brokeroftheyear.com

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

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Financials (USD)
Sales 2021 43,5 M - -
Net income 2021 3,59 M - -
Net Debt 2021 - - -
P/E ratio 2021 18,2x
Yield 2021 -
Capitalization 69,3 M 69,3 M -
Capi. / Sales 2021 1,59x
Capi. / Sales 2022 1,25x
Nbr of Employees -
Free-Float 51,1%
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Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 3,25 $
Last Close Price 2,00 $
Spread / Highest target 62,5%
Spread / Average Target 62,5%
Spread / Lowest Target 62,5%
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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