Blue Star Foods Enters into Supply Agreement for Up to $4 Million Annually with Just Food For Dogs
January 31 2023 - 8:30AM
Blue Star Foods
Corp.,
(“Blue
Star,”
the “Company,” “we,”
“our” or “us”)
(NASDAQ:
BSFC), an integrated
Environmental, Social, and Governance (ESG) sustainable seafood
company with a focus on Recirculatory Aquaculture Systems (RAS), is
pleased to announce it has entered into an agreement with Just Food
For Dogs. The initial contract for 2023 is expected to add an
estimate of up to approximately $4 million annual revenue to Blue
Star.
Blue Star entered into a supply agreement for
1,150 tons or 2,500,000 lbs. of wild caught cod (minced frozen of
#1 quality human grade) per year with Just Food For Dogs with an
auto renewal option provision. The cod fishery is certified by
MSC (Marine Stewardship Council) and is managed in a
responsible and sustainable manner in accordance with
internationally recognized criteria.
John Keeler, Chairman and CEO of Blue Star
Foods, commented, “We are thrilled to enter into this new
relationship with Just Food For Dogs and expand into a new category
for us, the pet/dog food industry. Our cod will be used as an
ingredient used for their ala carte gourmet pet food.” Trond
Ringstad, Board Member commented, “You’ve got to visit a Just Food
For Dogs store, as they are very impressive with their layout and
selection of high quality dog food.”
By mid-year 2020, U.S. pet food spending reached
US$37.96 billion, according to BLS data, representing a US$9.06
billion increase from mid-year 2019.
About Just Food For DogsFounded
by Shawn Buckley and based in Irvine, California, Just Food For
Dogs launched in 2010 the first-ever kitchen for dogs, making fresh
food out in the open for all to see. Just Food For Dogs is
assembled by a team of veterinarians and specialists to develop
healthy, nutritionally balanced meals. Ever since, Just Food For
Dogs has made it its mission to improve the length and quality of
life for as many pets as possible—through real food and
nutrition—by way of the following core values:
Relentlessly Advocating for Pet
Health Being Completely TransparentBasing Decisions on
Scientific Evidence Driving Change in Our
Category Honoring Pet Life Through Support of Rescue
Efforts
For more information on Just Food For Dogs,
please visit: https://www.justfoodfordogs.com.
About Blue Star Foods
Corp.
(NASDAQ:
BSFC)Blue Star Foods Corp. is an
integrated Environmental, Social, and Governance (ESG) sustainable
seafood company with a focus on Recirculatory Aquaculture Systems
(RAS) that processes, packages and sells high-value seafood
products. The Company believes it utilizes best-in-class
technology, in both resource sustainability management and
traceability, and ecological packaging. The Company also owns and
operates the oldest continuously operating Recirculating
Aquaculture System (RAS) full grow-out salmon farm in North
America. The company is based in Miami, Florida, and its corporate
website is: https://bluestarfoods.com
Forward-Looking
Statements:The
foregoing material may contain “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, each as
amended. Forward-looking statements include all statements that do
not relate solely to historical or current facts, including without
limitation statements regarding the Company’s product development
and business prospects, and can be identified by the use of words
such as “may,” “will,” “expect,” “project,” “estimate,”
“anticipate,” “plan,” “believe,” “potential,” “should,” “continue”
or the negative versions of those words or other comparable words.
Forward-looking statements are not guarantees of future actions or
performance. These forward-looking statements are based on
information currently available to the Company and its current
plans or expectations and are subject to a number of risks and
uncertainties that could significantly affect current plans. Risks
concerning the Company’s business are described in detail in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2021, and other periodic and current reports filed with the
Securities and Exchange Commission. The Company is under no
obligation to, and expressly disclaims any such obligation to,
update or alter its forward-looking statements, whether as a result
of new information, future events or otherwise.
Investor
Contacts:investors@bluestarfoods.com
Blue Star Foods (NASDAQ:BSFC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Blue Star Foods (NASDAQ:BSFC)
Historical Stock Chart
From Apr 2023 to Apr 2024