Inventure Foods To Invest $3.9 Million in Freezing Capabilities, New Equipment
PHOENIX, Dec. 9, 2013
PHOENIX, Dec. 9, 2013 /PRNewswire/ --Inventure Foods, Inc. (Nasdaq: SNAK)
("Inventure"), a leading specialty food marketer and manufacturer, today
announced the planned purchase of two state-of-the-art IQF (Individually Quick
Frozen) freezing tunnels for an estimated total purchase price of $3.9 million
"We continue to look for opportunities to meet growing demand for our frozen
fruit products, while also improving margins in our frozen fruit segment by
increasing our internal freezing capabilities," said Terry McDaniel, Chief
Executive Officer of Inventure Foods, Inc.
"This intended investment is our latest move in that operational strategy.
When this equipment is coupled with the freezing assets we acquired this year
at Willamette Valley Fruit Company and Fresh Frozen Foods, we will have made
significant progress toward meeting our frozen fruit processing requirements
The Company expects to install the new tunnels in the second quarter 2014,
prior to the harvest season, at its berry processing facilities in Lynden, WA
and Salem, OR.
About Inventure Foods,Inc.
With manufacturing facilities in Arizona, Indiana, Washington, Oregon and
Georgia, Inventure Foods, Inc. (Nasdaq: SNAK) is a marketer and manufacturer
of specialty food brands in better-for-you and indulgent categories under a
variety of Company owned and licensed brand names, including Boulder Canyon
Natural Foods®, Jamba®, Seattle's Best Coffee®, Rader Farms®, T.G.I.
Friday's®, Nathan's Famous®, Vidalia Brands®, Poore Brothers®, Tato Skins®,
Willamette Valley Fruit Company^TM, Fresh Frozen^TM and Bob's Texas Style®.
For further information about Inventure Foods, please visit
Statements contained in this press release that are not historical facts are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Because such statements include risks and
uncertainties, actual results may differ materially from those expressed or
implied by such forward-looking statements. Factors that may cause actual
results to differ from the forward-looking statements contained in this press
release and that may affect the Company's prospects in general include, but
are not limited to, general economic conditions, increases in cost or
availability of ingredients, packaging, energy and employees, price
competition and industry consolidation, ability to execute strategic
initiatives, product recalls or safety concerns, disruptions of supply chain
or information technology systems, customer acceptance of new products and
changes in consumer preferences, food industry and regulatory factors,
interest rate risks, dependence upon major customers, dependence upon existing
and future license agreements, the possibility that we will need additional
financing due to future operating losses or in order to implement the
Company's business strategy, acquisition and divestiture-related risks, the
volatility of the market price of the Company's common stock, and such other
factors as are described in the Company's filings with the Securities and
Exchange Commission. All forward−looking statements are based on information
available to the Company as of the date of this news release, and the Company
assumes no obligation to update such statements.
SOURCE Inventure Foods, Inc.
Contact: Steve Weinberger, 623-932-6200, firstname.lastname@example.org
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