Innovative Food to enter gourmet food consumer market
May 06, 2009
by FoodBusinessNews.net Staff
NAPLES, FLA. — Innovative Food Holdings, Inc., which offers gourmet food products through food service channels to professional chefs, is entering the gourmet food retail consumer market through the debut of its "For the Gourmet" subsidiary.
As part of the venture, Innovative Food Holdings will offer its line of gourmet cheeses, texturas, meats, caviar and stocks and demiglaces through the sale of products via partnerships and via the web directly to consumers through its soon-to-be-launched web site at www.forthegourmet.com.
"After successfully selling gourmet food products to discerning professional chefs for several years, we carefully concluded that the much larger retail consumer market was one we should be able to compete in very favorably," said Sam Klepfish, chief executive officer of Innovative Food Holdings.
"We believe that we currently occupy a unique position within the gourmet food industry, which could potentially allow Innovative Food Holdings future sources of revenue growth through the entrance into several lucrative additional growth areas within the specialty food market," he said. "Given the value that these revenue sources could potentially bring to the company, we believe that creating separate operating companies to operate each entity as a standalone business could further unlock value for our shareholders."
Founded in 1979 as Alpha Solarco Inc., Innovative Food distributes more than 3,000 perishable and specialty food products. In 2008, the company had annual sales of nearly $7 million, with specialty items accounting for 43% of sales, meat and game, 21%; seafood, 14%; cheese, 13%; produce, 5%; and poultry, 4%.