Nightfood Ice Cream Signs First Major Regional Distribution Agreement With New England Ice Cream Corporation
Tarrytown, NY, Jan. 28, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Nightfood, Inc. (OTC: NGTF), the ice cream company solving America’s $50 billion-dollar nighttime snacking problem, has announced a distribution agreement with New England Ice Cream Corporation (NEIC).
The relationship covers distribution throughout the states of Massachusetts, Vermont, New Hampshire, Maine, Rhode Island, and Connecticut. Playing a pivotal role arranging this agreement was Nightfood’s own Jim Christensen, former VP of Ice Cream Sales for global ice cream giant Unilever (owners of Ben & Jerry’s, Breyers, and the more recently acquired Talenti).
“This is the first of many distribution announcements we expect throughout 2019 as the national roll-out is now underway,” commented Nightfood CEO Sean Folkson. “We look forward to a strong and profitable relationship with New England Ice Cream. They’re as excited to get started as we are.”
The multi-year Agreement gives the Nightfood brand immediate access to thousands of distribution outlets throughout New England. Investors can learn more about the NEIC distribution network and their other brands at NewEnglandIceCream.com
“We started hearing the industry buzz about Nightfood last month and it’s a fascinating brand with a ton of potential,” explained Michael DaPonte, Executive Vice President of New England Ice Cream. “We believe Nightfood clearly has what it takes to be a huge hit in 2019 and beyond.”
“I’d like to publicly commend Jim for putting this deal together,” continued Folkson. “This is a tremendous step toward our goal of securing distribution in 10,000 retail locations by this time next year.”
The Company will receive a significant purchase order in the first half of February in conjunction with this agreement. In addition to direct sales efforts to major regional and national retail chains, the Company is in discussions with other regional distributors across the country as it continues establishing Nightfood distribution from coast to coast.
In an update to previously reported information, the Company has also received the initial purchase order from its first major regional supermarket chain. It was originally reported that the chain would be placing Nightfood in 100% of their locations, as that’s what was reported to management by the account broker in October. The Company has been notified that the product will be launched in approximately 40% of the locations to start. The product will hit shelves in February, and performance will be evaluated over the summer prior to inclusion into the remaining locations.
About Nightfood Holdings:
Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc.
Nightfood, Inc, “The Nighttime Snack Company”, is currently rolling out its line of nighttime ice cream across the country.
Ice cream is now the 2nd most popular night snack choice. Almost half of all consumers reach for ice cream at night, and it is estimated that 80% of all at-home ice cream consumption occurs shortly before bed. Available in 8 delicious flavors, Nightfood ice cream can help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way.
According to IRI Worldwide, 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks in the US. Market research giant Mintel recently released a report identifying nighttime specific food and beverages as one of their most “compelling and category changing” trends for 2017 and beyond.
The Company has developed a dynamic infographic at http://NightSnacking.com as a definitive consumer and media resource clearly illustrating the size and scope of the largely untapped nighttime snack category.
To enter the Nightfood Ice Cream Giveaway, where the Company is giving away a one-year supply of Nightfood ice cream, plus a brand-new freezer to store it in, visit http://nightfoodicecream.com – each entrant gets a coupon for a free pint of ice cream (some purchase may be required).
MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half-Baked”. Munchies is currently preparing a patent application with the USPTO for a proprietary ingredient to be used in Half-Baked snacks that Management believes will give it a unique and defensible competitive advantage against other recreational edible brands. The Company believes tremendous opportunities currently exist to launch successful and legally compliant products in this space, and that such opportunities will continue to grow over time.
Questions can be directed to investors@Nightfood.com
Forward Looking Statements:
This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Media Contact: Tim Sullivan media@Nightfood.com 732-816-0239 Investor Contact: Stuart Smith investors@Nightfood.com 888-888-6444, x3
Released January 28, 2019