Overhill Farms signs new key national account
January 26, 2007
by FoodBusinessNews.net Staff
VERNON, CALIF. — Overhill Farms, Inc., a value-added supplier of frozen foods to food service, retail and airline customers, has signed a three-year agreement to produce meals for a major national food brand. The agreement is expected to generate sales of approximately $43 million during the first year. Production began this month and is scheduled to build steadily over the coming months.
"With this new agreement, and other new business and customer initiatives, Overhill Farms is on track to reach an annual revenue run rate of over $200 million by the third quarter of this fiscal year," said James Rudis, chairman and chief executive officer.
The company posted revenues of $168.3 million for its last fiscal year, which ended Oct. 1.
Overhill Farms also announced it plans to produce 24 new private label food items for a major West coast grocery chain that is a current Overhill Farms customer. Production is scheduled to begin in February. This is the largest launch, in terms of number of products, ever undertaken by Overhill Farms for a single customer.
In addition, Overhill Farms has begun manufacturing new private label products for two new retail customers, according to the company.