Vital Farms Announces National Foodservice Partnership with Acosta
02 2월 2021 - 11:00PM
Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a
range of ethically produced pasture-raised foods nationwide, today
announced a partnership with Acosta Foodservice, a U.S. foodservice
sales and marketing agency in the consumer packaged goods industry.
Acosta will represent Vital Farms’ national U.S. foodservice
distribution.
“Expanding our foodservice distribution is an important pillar
of our growth strategy,” said Peter Pappas, Chief Sales Officer,
Vital Farms. “We’ve steadily grown this segment of the business,
partnering with operators who source our high-quality, ethical food
products and believe our brand resonates with their diners. We look
forward to working with Acosta, our first national sales and
marketing agency for foodservice, to expand our footprint even
further in the commercial and noncommercial foodservice segments in
the months and years ahead.”
“We invested in a partnership with Acosta because we see
significant opportunity for growth across the foodservice channel,
including through increasing our broadline distribution and
expanding into more national and regional restaurant chains,” said
Russell Diez-Canseco, President and CEO, Vital Farms. "Under Pete's
leadership, we are progressing our go-to-market strategy across
retail and foodservice. The Vital Farms brand has a differentiated
value proposition with consumers, and we are eager to introduce
more diners to our high-quality pasture-raised products in
partnership with Acosta.”
“We are thrilled to partner with Vital Farms and introduce their
honest and ethically produced products to foodservice operators
across the country,” said Taylor Crown, President, Acosta
Foodservice. “As the leading pasture-raised egg brand in the U.S.
by retail dollar sales, Vital Farms has demonstrated that consumers
are drawn to the brand’s mission and commitment to transparency. We
look forward to sharing the Vital Farms story with more foodservice
operators at a time when a growing number of diners seek food
selections they can trust.”
The partnership between Vital Farms and Acosta began in January
2021.
About Vital FarmsVital Farms, a Certified B
Corporation, offers a range of ethically produced pasture-raised
foods nationwide. Started on a single farm in Austin, Texas, in
2007, Vital Farms is now a national consumer brand that works with
over 200 small family farms and is the leading U.S. brand of
pasture-raised eggs and butter by retail dollar sales. Vital Farms'
ethics are exemplified by its focus on the humane treatment of farm
animals and sustainable farming practices. In addition, as a
Delaware Public Benefit Corporation, Vital Farms prioritizes the
long-term benefits of each of its stakeholders, including farmers
and suppliers, customers and consumers, communities and the
environment, and crew members and stockholders. Vital Farms'
pasture-raised products, including shell eggs, butter, hard-boiled
eggs, ghee, egg bites and liquid whole eggs, are sold in
approximately 16,000 stores nationwide. For more
information, visit www.vitalfarms.com.
About AcostaAcosta is an integrated sales and
marketing services provider that enables consumer packaged goods
brands and retailers to win in the modern marketplace by delivering
progressive solutions and exceptional service. With more than 90
years of experience, Acosta understands evolving consumer needs and
helps its clients and customers stay a step ahead, fueling their
accelerated performance. For more information, please
visit www.acosta.com.
Forward Looking StatementsThis press release
contains “forward-looking” statements, as that term is defined
under the federal securities laws, including but not limited to
statements regarding Vital Farms’ anticipated future growth, its
partnership with Acosta, and its plans to expand Vital Farms’
commercial and noncommercial foodservice footprint. These
forward-looking statements are based on Vital Farms’ current
assumptions, expectations and beliefs and are subject to
substantial risks, uncertainties, assumptions and changes in
circumstances that may cause Vital Farms’ actual results,
performance or achievements to differ materially from those
expressed or implied in any forward-looking statement.
The risks and uncertainties referred to above include, but are
not limited to: (1) the effects of the current COVID-19 pandemic,
or of other global outbreaks of pandemics or contagious diseases or
fear of such outbreaks, including on Vital Farms’ supply chain, the
demand for Vital Farms’ products, and on overall economic
conditions and consumer confidence and spending levels; (2) Vital
Farms’ expectations regarding its revenue, expenses and other
operating results; (3) Vital Farms’ ability to acquire new
customers and successfully retain existing customers; (4) Vital
Farms’ ability to attract and retain its suppliers, distributors
and co-manufacturers; (5) Vital Farms’ ability to sustain or
increase its profitability; (6) Vital Farms’ ability to procure
sufficient high quality eggs, butter and other raw materials; (7)
real or perceived quality or health issues with Vital Farms’
products or other issues that adversely affect its brand and
reputation; (8) changes in the tastes and preferences of Vital
Farms’ consumers; (9) the financial condition of, and Vital Farms’
relationships with, its suppliers, co-manufacturers, distributors,
retailers and foodservice customers, as well as the health of the
foodservice industry generally; (10) the ability of Vital Farms’
suppliers and co-manufacturers to comply with food safety,
environmental or other laws or regulations; (11) future investments
in Vital Farms’ business, its anticipated capital expenditures and
its estimates regarding its capital requirements; (12) the costs
and success of Vital Farms’ marketing efforts, and Vital Farms’
ability to promote its brand; (13) Vital Farms’ reliance on key
personnel and its ability to identify, recruit and retain skilled
personnel; (14) Vital Farms’ ability to effectively manage its
growth; (15) Vital Farms’ focus on a specific public benefit
purpose and producing a positive effect for society may negatively
influence its financial performance; (16) Vital Farms’ ability to
compete effectively with existing competitors and new market
entrants; (17) the impact of adverse economic conditions; (18) the
sufficiency of Vital Farms’ cash to meet its liquidity needs and
service its indebtedness; (19) seasonality; and (20) the growth
rates of the markets in which Vital Farms competes.
These risks and uncertainties are more fully described in Vital
Farms’ filings with the Securities and Exchange Commission,
including in the section entitled “Risk Factors” in its quarterly
report on Form 10-Q for the fiscal quarter ended September 27, 2020
and other filings and reports that Vital Farms may file from time
to time with the SEC. Moreover, Vital Farms operates in a very
competitive and rapidly changing environment. New risks emerge from
time to time. It is not possible for management to predict all
risks, nor can Vital Farms assess the impact of all factors on its
business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking statements Vital Farms may make.
In light of these risks, uncertainties and assumptions, Vital Farms
cannot guarantee that the future results, levels of activity,
performance, achievements, or events and circumstances reflected in
the forward-looking statements will occur. Forward-looking
statements represent Vital Farms’ beliefs and assumptions only as
of the date of this press release. Vital Farms disclaims any
obligation to update forward-looking statements except as required
by law.
CONTACT:Media:Nisha
DevarajanNisha.Devarajan@vitalfarms.com
Investors:Ashley
DeSimoneAshley.DeSimone@icrinc.com
Vital Farms (NASDAQ:VITL)
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