The food industry has always been a sector of interest for investors, and for good reason too, given the sort of growth that it has generated over the past decades. One of the companies from the sector that could be worth tracking at this point is Innovative Food Holdings Inc. (OTC:IVFH), the national gourmet specialty food seller to professional chefs. Yesterday, the company came into focus after it announced that it had entered into a new contractual partnership as a broad-line distributor partner with Cheney Brothers.
Following the signing of the contract, the two companies would start work on the technical integration of their own platforms, and subsequently, the orders would begin to roll in during the second half of 2024. The partnership would largely depend on the drop-shipping platform of Innovative Food Holdings, and the majority of the platform consists of well-vetted and highly unique vendors. As a consequence, it was possible for the company to build and then scale up the new business without a lot of investment in expenses, inventory, or infrastructure.
In this regard, it may be a good idea for investors to have a better idea about Cheney Brother, the company’s partner, as well. Cheney Brothers is a broad-line distributor in the Southeastin the Southeast and boasts revenues of more than $3 billion. Currently, it is one of the fastest-growing distributors in the United States, making it a big-ticket partner for Innovative Food Holdings. Thanks to the partnership, the company’s products would be made available on the newly established Cheney Brothers Stock Room drop-shipping platform.
The Chief Executive Officer of Innovative Food Holdings, Bill Bennett, spoke about the development on Monday. He noted that the latest partnership was a major step forward for the company and was a demonstration of the growing potential of Innovative Food Holdings.
