Nate’s Food Co. Announces It Is Finalizing Agreements with 3 Food Brokers For Nate’s Pancakes
October 23 2014 - 8:00AM
Business Wire
Nate’s Food Co. (OTC: NHMD) announced today that it is
finalizing agreements with 3 food brokers for placement of Nate’s
Pancakes. The brokers will assist the Company in selling Nate’s
Pancakes through 3 different channels: (1) grocery stores, (2) big
box stores (i.e. Costco), and (3) private label.
The 3 food brokers have previously worked with Nate Steck for
over 14 years and assisted in the sales of nearly $200,000,000.
This will represent the first time that the 3 brokers will be
working together as a group. The Company’s goal is to expand its
total points of distributions and leverage the work that Nate Steck
has done previously with Batter Blaster to reduce the capital
requirements needed to build out the production capacity to meet
the demand of the product.
The process involved with grocery placement and private label
is: (1) hire a food broker, (2) meet with buyers, (3) samples sent
to buyer, (4) set up pricing, (5) delivery dates established
(typically 1 to 3 months), and (6) begin with a rollout with a
region of the stores before full deployment.
While the Company is finalizing the deal points with the brokers
and pricing terms for the product, the Company is beginning to
increase its capacity in anticipation of the orders from the
contracts the food brokers will bring to the Company. By beginning
to increase the capacity now, the Company will avoid costly
expenses that plagued Batter Blaster and prevent any delays in
meeting the increase in demand that is created for our products in
what we expect to be over 50,000 points of distribution.
Once the final contracts have been executed the Company will
provide the details of the agreements with the specific broker.
About Nate’s Food Co.
Nate’s Pancakes are a ready-to-use, pre-mixed pancake and waffle
batter delivered in a pressurized can. Our pre-made batter makes
light and airy pancakes or waffles that are fun for the entire
family to make together, and are a great way to start your day.
With no preparation and no clean-up, we’ve made making breakfast
easier for your busy mornings.
About Nate’s Pancakes
Nate’s Pancakes is a food manufacturing and product development
company with corporate offices in Huntington Beach, CA. Our product
development and food science facilities are based in Fairfield, CA
and our production facilities are based in Southern California.
Nate’s Pancakes is owned and operated by Nate’s Food Co., which is
a public company. More information on Nate’s Food Co. can be found
at www.natesfoodco.com.
Notice Regarding Forward-Looking
Statements in this press release which are not purely
historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. These forward-looking statements are made as of the date
of this news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that any beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our annual
and interim reports.
Contacts: Nate’s Food Co. Nate Steck (661) 418-7842
info@nhmd.net
Nate’s Food Co.Nate Steck, 661-418-7842info@nhmd.net
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